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Started By
Message
re: What do you consider middle class?
Posted on 2/10/20 at 11:18 am to deltaland
Posted on 2/10/20 at 11:18 am to deltaland
quote:
For most of the southeast for a family of 4 I’d say Poor- under 40k household income
Solid.
quote:
Working class 40-55k
Agreed.
quote:
Middle 56k-120k
Perhaps a tad too high on the high end, but close enough.
quote:
Upper middle 121k-250k
Whoa. No. Upper middle is inside of the middle.
If you're making 130k/yr, even with a family of 4, your standard of living will be far greater than 75% of this country.
2
Posted on 2/10/20 at 11:20 am to deltaland
quote:
Poor- under 40k household income
Good times
Posted on 2/10/20 at 11:20 am to lsu777
quote:
Exactly, who the hell maxes the 401k? I put 20k in but that's including my company putting in a shite ton as I have a 3 to 1 match on first 4%.
Even if you take that poster to mean someone who has the ability to max their 401k, but not necessarily doing it, that's still a very high savings rate for the real middle class ranges.
Posted on 2/10/20 at 11:26 am to slackster
quote:Thats what upper middle class is though right?
If you're making 130k/yr, even with a family of 4, your standard of living will be far greater than 75% of this country.
Posted on 2/10/20 at 11:26 am to Salmon
quote:I think paying for a decent house, 2-3 cars, insurance, groceries for four, save for retirement, etc and not live paycheck to paycheck would be pretty difficult on 100k
you only said you don't know how people survive on $100k
Posted on 2/10/20 at 11:27 am to GreatLakesTiger24
quote:
I think paying for a decent house, 2-3 cars, insurance, groceries for four, save for retirement, etc and not live paycheck to paycheck would be pretty difficult on 100k
unless you are just retarded with money, its not
Posted on 2/10/20 at 11:37 am to GreatLakesTiger24
quote:
I think paying for a decent house(3000sqft house in a good neighborhood), 2-3 cars(No more than 5 years old each), insurance(got to have 300/100/300 to protect all my assets), groceries for four(Fiji water/steaks/snacks galore), save for retirement, etc and not live paycheck to paycheck would be pretty difficult on 100k
Posted on 2/10/20 at 11:40 am to Puffoluffagus
quote:
I think paying for a decent house(3000sqft house in a good neighborhood), 2-3 cars(No more than 5 years old each), insurance(got to have 300/100/300 to protect all my assets), groceries for four(Fiji water/steaks/snacks galore), save for retirement, etc and not live paycheck to paycheck would be pretty difficult on 100k
Bingo
Posted on 2/10/20 at 11:43 am to MBclass83
quote:
100,000 per year would be doable but not easy.
dissapointed. i figured a few people would say 200k minimum or else you can't afford private school for the kids and also the notes on the wife's Audi Q7 and your Raptor.
Posted on 2/10/20 at 11:45 am to Janky
quote:
2-3 cars(No more than 5 years old each),
and there it is. because no self-respecting OT 'middle-classer' would dare be seen driving a car 5 years old.
this place never changes.
Posted on 2/10/20 at 11:46 am to CAD703X
You know you replied to a sarcastic line he added into someone else's post, right?
Posted on 2/10/20 at 11:47 am to TH03
quote:
You know you replied to a sarcastic line he added into someone else's post, right?
Bingo
Posted on 2/10/20 at 11:47 am to TH03
quote:
You know you replied to a sarcastic line he added into someone else's post, right?
no
Posted on 2/10/20 at 11:48 am to Puffoluffagus
Assuming no student loan debt too, which it feels like everyone has until they're in their 30's now.
I took out some loans for grad school and have a few years left. That'll make our monthly budget feel a lot different when it is paid off.
I'm honestly thinking we've gotten so used to it though that I might just start contributing that same amount to savings each month when the loan ends
I took out some loans for grad school and have a few years left. That'll make our monthly budget feel a lot different when it is paid off.
I'm honestly thinking we've gotten so used to it though that I might just start contributing that same amount to savings each month when the loan ends
Posted on 2/10/20 at 11:48 am to beaverfever
quote:
Thats what upper middle class is though right?
No upper middle class would be living better than about 60% up to 75% of the country, hence middle class which is the 25-75 percentile. There is a difference and sure his example is on the bubble but hopefully this makes sense.
Posted on 2/10/20 at 11:55 am to TheCaterpillar
quote:
I'm honestly thinking we've gotten so used to it though that I might just start contributing that same amount to savings each month when the loan ends
That's actually a smart thing to do.
Posted on 2/10/20 at 11:56 am to Puffoluffagus
quote:do you not need to live in a good neighborhood? If you don’t, you’ll be paying for private school which is another big expense.
3000sqft house in a good neighborhood
Posted on 2/10/20 at 11:57 am to Centinel
Depends on where you live. In Morgan City, $85 grand and you are upper class for sure.
Posted on 2/10/20 at 11:58 am to GreatLakesTiger24
quote:
I think paying for a decent house, 2-3 cars, insurance, groceries for four, save for retirement, etc and not live paycheck to paycheck would be pretty difficult on 100k
If you make 100k why would you have 3 cars, even if you have a kid old enough to drive? That's stupid and not financially smart in any sense.
If you make 100k, and want two cars, why would you have anything but a older used car as the second? Again it would be stupid financially to buy two new cars making 100k.
Also stupid to buy anything more than a Honda Accord as the primary car.
Retirement is 4-6% for most.
And I already showed you how people survive. Stop assuming because you love in the city that it's like that everywhere.
I showed you how people do it in the south, how they can. In Atlanta, Nashville, Houston, Dallas.
It's not that hard, people are just fricking stupid with money. Got every female walking around with a 300 dollar purse when the household income is 50k and complaining because they can't afford the 3k purse.
It has gotten absolutely insane.
And you were picking on me earlier for choosing my profession and local, but even here it's the same way. We have guys working for contractors making 70k with a wife that is a teacher making 35k. They are building houses in the same neighborhoods I am looking to build in as an engineer with a wife that makes way more than me. It's asinine and all about keeping up with the Joneses.
I can't say my wife doesn't do the same thing, I'm pretty grounded and have to bring her back down to earth many times.
Posted on 2/10/20 at 12:00 pm to GreatLakesTiger24
quote:
do you not need to live in a good neighborhood?
sure
you might just have to have the cheapest house in the neighborhood though
quote:
If you don’t, you’ll be paying for private school which is another big expense.
the only place where private school is seemingly the norm is south LA
for the vast majority of the country, private school is mainly for upper class
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