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re: What do you consider "Upper Middle Class"?
Posted on 3/17/14 at 3:07 pm to Epic Cajun
Posted on 3/17/14 at 3:07 pm to Epic Cajun
quote:
Well, I guess I'd consider 50k-75k as lower middle class. I'm referring to gross income for households here.
Let's remove the word salary here and just think of the numbers. You are saying that the bottom of the middle starts at the middle. Can you see how that doesn't make any sense at all?
1
Posted on 3/17/14 at 3:07 pm to Chris Farley
(no message)
This post was edited on 4/3/14 at 5:30 pm
Posted on 3/17/14 at 3:08 pm to lynxcat
quote:
If I marry someone with half a brain then I'll hit this number easily by the time I am 30.
Gotta get some decent ROI on that ring bro. 
Posted on 3/17/14 at 3:08 pm to lynxcat
quote:
Realistically, around 150k annual and saving at least 30k a year.
Good luck with that. $150K a year isn't shite with a family.
Posted on 3/17/14 at 3:08 pm to Salmon
quote:
there is so much oilfield trash that makes well into 6 figures but have nothing of real value
Not all oilfield hands make that much, they just live like they do. I'd say the average oilfield salary is around $60k.
Posted on 3/17/14 at 3:09 pm to Hoyt
quote:
What do you consider "Upper Middle Class"?
If you live in a trailer, but keep your miller lite in a Yeti.
Posted on 3/17/14 at 3:10 pm to Salmon
quote:
there is so much oilfield trash that makes well into 6 figures but have nothing of real value
the key word here is trash.
It's hard to say everyone making 6 figures is upper middle class when in fact they are nothing but trash
Cash doesn't equal class.
Posted on 3/17/14 at 3:11 pm to Corkfather
quote:For field hands?
I'd say the average oilfield salary is around $60k.
Posted on 3/17/14 at 3:11 pm to Corkfather
quote:
I'd say class is based more upon assets, liquid or otherwise, than salary
Yep
Posted on 3/17/14 at 3:11 pm to bigblake
quote:
Honestly though, what's the difference between upper middle and upper class ($500k'ish)? They probably drive similar vehicles, all have iphones, large houses, ability to travel. Maybe the "uppers" have the 7 series vs the 5, 4000 sq ft vs 3000 sq ft. Rolex vs Tag. Stay in 3 star hotels instead of 4/5 star.
Most wealthy people, especially older ones, drive domestic vehicles, live in modest homes, and take the same vacations to Destin like everyone else. They didn't get to that level in life by flaunting their money.
Posted on 3/17/14 at 3:11 pm to PetreauxCat
quote:
For field hands?
Skilled field hands, not roustabouts and such.
Posted on 3/17/14 at 3:11 pm to Epic Cajun
quote:
Well, I guess I'd consider 50k-75k as lower middle class. I'm referring to gross income for households here.
Right, so am I. 51k is national the median(50th percentile), so how do you consider that lower middle class?
Posted on 3/17/14 at 3:12 pm to lynxcat
quote:
Realistically, around 150k annual and saving at least 30k a year.
Not an easy feat right there. You have to keep living expenses pretty low. You could hit $22500 maxing 401k and adding a ROTH.
But it can be done with discipline.
Posted on 3/17/14 at 3:12 pm to Peazey
quote:
Peazey
I wasn't a math major
I guess if we look at actual percentiles, the numbers are completely different that perception.
For married filers last year 75k was the 50th percentile.
Posted on 3/17/14 at 3:12 pm to Corkfather
quote:
Most wealthy people, especially older ones, drive domestic vehicles, live in modest homes, and take the same vacations to Destin like everyone else. They didn't get to that level in life by flaunting their money.
Agreed. This reminds me of a good book, The Millionaire Next Door.
Posted on 3/17/14 at 3:13 pm to Corkfather
quote:
I'd say the average oilfield salary is around $60k.
what hands are you lumping into this category?
Offshore cooks and galley hands make $60k.....thats pretty much the bare minimum for an experienced offshore/boat hand.
Posted on 3/17/14 at 3:14 pm to VABuckeye
quote:
Not an easy feat right there. You have to keep living expenses pretty low. You could hit $22500 maxing 401k and adding a ROTH.
But it can be done with discipline.
Living expenses would have to be REALLY low and no kids could be involved.
Posted on 3/17/14 at 3:15 pm to Corkfather
quote:
Skilled field hands, not roustabouts and such.
A timekeeper on a O&G job working 50 hours a week makes over $60K a year, your data is flawed.
Posted on 3/17/14 at 3:16 pm to crazyhorsedog
quote:
Upper middle class to me is 150k. 20k plus in liquid cash.
This. Wife and I combine for salaries of 120K+, no kids, plus having 25K of cash in savings outside of our retirement accounts. Though our modest possessions would seem to tell a different story, we are certainly doing much better than the typical middle class.
Posted on 3/17/14 at 3:16 pm to tgrbaitn08
quote:
what hands are you lumping into this category?
All of my experience is onshore.
Even offshore, there's a lot of off-time that isn't paid. If you're clearing six figures you're doing pretty well for yourself.
This post was edited on 3/17/14 at 3:19 pm
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