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re: Is a family of 4 that earns 97k/year middle class or upper class, on average?
Posted on 3/26/17 at 11:02 pm to HailHailtoMichigan!
Posted on 3/26/17 at 11:02 pm to HailHailtoMichigan!
quote:
Is a family of 4 that earns 97k/year middle class or upper class, on average?
I mean, I am single at $75k and live in Oxford, MS. I am middle...so, $97k for a family of poor. I would call that lower middle class in any decent area of the country.
0
Posted on 3/26/17 at 11:03 pm to 5thTiger
quote:childcare is more than college in about 35 states.
I don't have kids, but I would expect childcare to cost much more than that. Economic Policy Institute has averages around $5k/year for Alabama, which is one of 5 lowest in the nation. Roughly 10% of income in most states. *per child
Posted on 3/26/17 at 11:03 pm to 5thTiger
Child care is about 1k/month a child locally. It cost more to put a kid in day care for a year than pay college tuition.
Posted on 3/26/17 at 11:04 pm to mahdragonz
quote:finally, someone who gets it.
Reading this is a signal that people are mistaking working class for middle or upper class.
If you're middle or upper there are expenses that would be part of the list. The most obvious
Dry cleaning 600-800 per month
Entertaining - 500 - 5000 per month - it would depend
Staff - depends but house and maintenance- 2k -10k per month
Philanthropy- a major expense depending what social circle you want to be in
Holidays
Posted on 3/26/17 at 11:06 pm to Ace Midnight
quote:Well we don't have Company and Field-grade. We're JOs through LCDR (even though you aren't really a JO as a LCDR) and then senior officers from 05-06 (then GO/FO, of course).
Come on, man? Field grade, baw?
But the decision was one I'd been wrestling with since last year, and really since about 2013. I love what I do a lot of the time, but I'm ready to move on. And I'm always happy to tell people it will not be to a civilian position at DIA or otherwise within the IC. I want to do something different.
quote:I have a year to work it out (almost exactly a year, in fact). And I was recently told that I'm eligible for the "blended" retirement system which would give me some kind of IRA to go with my TSP that I can take with me. Since that kicks in on 1 January 2018 and I already (formally) quit, there's some murkiness there. My year-group is eligible to make the choice (newbies have to take it; guys who came in before 2006 don't have a choice but to keep the old high-3 pension plan). I'd like to walk away with something, but it's not really a controlling issue. And I will likely affiliate as a reservist either way.
Hopefully you got something better lined up. You didn't consider USNR as an option to nab a pension?
Posted on 3/26/17 at 11:07 pm to HailHailtoMichigan!
Daycare around me is at least $1000/mt not including diapers, food, etc. that's for a less desirebale daycare. Most people I know pay $1300+/mt
Posted on 3/26/17 at 11:08 pm to mahdragonz
quote:
Reading this is a signal that people are mistaking working class for middle or upper class.
If you're middle or upper there are expenses that would be part of the list. The most obvious
Dry cleaning 600-800 per month
Entertaining - 500 - 5000 per month - it would depend
Staff - depends but house and maintenance- 2k -10k per month
Philanthropy- a major expense depending what social circle you want to be in
Holidays
Agreed. Entertainment/Philanthropy is where bills can skyrocket. Country Club membership, fundraisers, are a major part of being in the middle calss for most communities.
Posted on 3/26/17 at 11:09 pm to ellishughtiger
Much of it is simply the nature of daycare, because daycare workers are not highly paid, at all.
Posted on 3/26/17 at 11:10 pm to Navytiger74
quote:
And I'm always happy to tell people it will not be to a civilian position at DIA or otherwise within the IC. I want to do something different.
It's hard to leave - I ended up teaching. I mean, what else was an old spook (<-WTF?) like me supposed to do?
That's where the reserve component has an advantage - we have day jobs and deal with real, "normal" civilians every day. Not in the bubble of uniform/DOD.
This post was edited on 3/26/17 at 11:11 pm
Posted on 3/26/17 at 11:19 pm to HailHailtoMichigan!
Middle class
Posted on 3/26/17 at 11:20 pm to Ace Midnight
quote:
It's hard to leave - I ended up teaching. I mean, what else was an old spook (<-WTF?) like me supposed to do?
Seriously, my parents tell me I should go back and get my PhD and teach or lecture. I like to talk but that's not for me. I've been talking to some friends in consulting and cyber-security and don't think I'd have much trouble getting a foot in the door there. Don't know that I'd stay, though. And I'm taking the FSOT this summer, but I've cooled on State, too.
I honestly just want to do something in the tourist or travel industry. Not very practical, but I've always joked about doing fishing charters or managing a resort or owning a bar in some tax-cheat safehaven in the Med, Caribbean, or South America.
So yeah. Obviously haven't thought this all through.
This post was edited on 3/26/17 at 11:26 pm
Posted on 3/26/17 at 11:23 pm to Navytiger74
Try to hit up a fat contract somewhere, bank that money, and start your business. That path worked well for me. 
Posted on 3/26/17 at 11:30 pm to AUsteriskPride
quote:
Well, that's where most people go wrong, too much house.
I think that's why the clarification on location matters, that's not a ton of house many places.
Posted on 3/26/17 at 11:31 pm to AUsteriskPride
quote:
Well, that's where most people go wrong, too much house
Cars every few years seems like an even more common pitfall.
Posted on 3/27/17 at 12:01 am to HailHailtoMichigan!
Family of 4? Middle
Posted on 3/27/17 at 12:04 am to HailHailtoMichigan!
I could not maintain my life style with 4 kids on that salary
Posted on 3/27/17 at 12:06 am to HailHailtoMichigan!
Outside of major cities, they would probably be middle class.
In NYC, San Fran, Chicago, etc, they would likely be lower middle class.
In NYC, San Fran, Chicago, etc, they would likely be lower middle class.
Posted on 3/27/17 at 1:02 am to StringedInstruments
quote:
Further, in any respectable city, even the suburbs, $250,000 is about the minimum you'd pay to get into a good school system
Median home price in Seattle area is triple that. A family of of four trying to live on 97k would be lower middle, at best. Median salary at many local companies is north of 100k, so a two-earner household does fine in spite of crazy real estate prices.
Posted on 3/27/17 at 1:09 am to HailHailtoMichigan!
That's about average to lower middle class.
Posted on 3/27/17 at 4:50 am to imjustafatkid
Reading the posts on here tells me most people can't manage their money.
Fyi, where I live, 97k would be a freaking easy existence. And I hardly live in the rural South or Midwest.
Fyi, where I live, 97k would be a freaking easy existence. And I hardly live in the rural South or Midwest.
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