Study shows that 350k/year is barely scrapping by as middle class

[Anonymous]

Anonymous wrote:

Anonymous wrote:Middle class people do not own $1.8m houses. Nor do they spend $24,000 on preschool. Or $2,000 a month on food.

What a stupid article.

This^

Insulting to the other 90% to claim otherwise, but what do you expect from a website called “marketwatch” when most of us don’t own stocks. Or even have any savings. https://www.cnbc.com/2017/06/19/heres-how-many-americans-have-nothing-at-all-in-savings.html

You don’t have any retirement savings? You are not middle class.

[Anonymous]

Anonymous wrote:
Look a janitor can spend his life saving and rack up a million dollars to donate.

Sure, if you enjoy living like a monk. Most people (in the US at least) need to treat themselves to be able to keep going in todays bleak world. Otherwise what’s even the point?

And besides that, everyone who uses this argument seems to forget that our economy relies on spending. If everyone just saved there would be hardly any economic activity.

Wealthy people who are already set: “All you have to do is not consume anything but the basics and you can be like me!”

The media, politicians, economists: “Oh no! Everyone is saving and being tight with their money! We’re having a recession!”

Wealthy people again to their employees and community after hearing the above “oh sorry we have to lay a bunch of you off, and can’t invest in the community and your well being or raise wages because we’re not selling as much”

So what’s the solution? I honestly would like to know.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Middle class people do not own $1.8m houses. Nor do they spend $24,000 on preschool. Or $2,000 a month on food.

What a stupid article.

This^

Insulting to the other 90% to claim otherwise, but what do you expect from a website called “marketwatch” when most of us don’t own stocks. Or even have any savings. https://www.cnbc.com/2017/06/19/heres-how-many-americans-have-nothing-at-all-in-savings.html

You don’t have any retirement savings? You are not middle class.

Pretty sad then that half of America isn’t middleclass.

[Anonymous]

That's one family's budget, not a study. They're doing quite well for themselves. They save for retirement, own a house, pay for private schools, and take multiple vacations per year. That's well into the UMC at a minimum.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Middle class people do not own $1.8m houses. Nor do they spend $24,000 on preschool. Or $2,000 a month on food.

What a stupid article.

This^

Insulting to the other 90% to claim otherwise, but what do you expect from a website called “marketwatch” when most of us don’t own stocks. Or even have any savings. https://www.cnbc.com/2017/06/19/heres-how-many-americans-have-nothing-at-all-in-savings.html

You don’t have any retirement savings? You are not middle class.

Pretty sad then that half of America isn’t middleclass.

Source?

[Anonymous]

Anonymous wrote:That's one family's budget, not a study. They're doing quite well for themselves. They save for retirement, own a house, pay for private schools, and take multiple vacations per year. That's well into the UMC at a minimum.

They are doing fine but all of their savings is in retirement accounts or 529 for kids. That will not be sufficient for them to retire by 60 which was the point of the article.

A UMC family should have plenty of savings for emergency fund, home repairs and improvements, investments, etc....

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Middle class people do not own $1.8m houses. Nor do they spend $24,000 on preschool. Or $2,000 a month on food.

What a stupid article.

This^

Insulting to the other 90% to claim otherwise, but what do you expect from a website called “marketwatch” when most of us don’t own stocks. Or even have any savings. https://www.cnbc.com/2017/06/19/heres-how-many-americans-have-nothing-at-all-in-savings.html

You don’t have any retirement savings? You are not middle class.

Pretty sad then that half of America isn’t middleclass.

Source?

The guy who just claimed if you have no savings you’re not middleclass. I was kinda being facetious when I made the comment about it being sad. But it is sad, and infuriating in some ways.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Middle class people do not own $1.8m houses. Nor do they spend $24,000 on preschool. Or $2,000 a month on food.

What a stupid article.

This^

Insulting to the other 90% to claim otherwise, but what do you expect from a website called “marketwatch” when most of us don’t own stocks. Or even have any savings. https://www.cnbc.com/2017/06/19/heres-how-many-americans-have-nothing-at-all-in-savings.html

You don’t have any retirement savings? You are not middle class.

Pretty sad then that half of America isn’t middleclass.

They are lower class/LMC. Those with a few million are middle class. 10s of millions, UMC. 100s of millions, upper class. It is a skewed curve. Everyone wants it to be a perfect bell curve amd it’s not.

[Anonymous]

Anonymous wrote:

Anonymous wrote:That's one family's budget, not a study. They're doing quite well for themselves. They save for retirement, own a house, pay for private schools, and take multiple vacations per year. That's well into the UMC at a minimum.

They are doing fine but all of their savings is in retirement accounts or 529 for kids. That will not be sufficient for them to retire by 60 which was the point of the article.

A UMC family should have plenty of savings for emergency fund, home repairs and improvements, investments, etc....

Says who? And they could certainly do all that if they cut back on some of their expenses.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Middle class people do not own $1.8m houses. Nor do they spend $24,000 on preschool. Or $2,000 a month on food.

What a stupid article.

This^

Insulting to the other 90% to claim otherwise, but what do you expect from a website called “marketwatch” when most of us don’t own stocks. Or even have any savings. https://www.cnbc.com/2017/06/19/heres-how-many-americans-have-nothing-at-all-in-savings.html

You don’t have any retirement savings? You are not middle class.

Pretty sad then that half of America isn’t middleclass.

They are lower class/LMC. Those with a few million are middle class. 10s of millions, UMC. 100s of millions, upper class. It is a skewed curve. Everyone wants it to be a perfect bell curve amd it’s not.

People with a few million dollars are not middle class, no matter how you draw the curve.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Middle class people do not own $1.8m houses. Nor do they spend $24,000 on preschool. Or $2,000 a month on food.

What a stupid article.

This^

Insulting to the other 90% to claim otherwise, but what do you expect from a website called “marketwatch” when most of us don’t own stocks. Or even have any savings. https://www.cnbc.com/2017/06/19/heres-how-many-americans-have-nothing-at-all-in-savings.html

You don’t have any retirement savings? You are not middle class.

Pretty sad then that half of America isn’t middleclass.

They are lower class/LMC. Those with a few million are middle class. 10s of millions, UMC. 100s of millions, upper class. It is a skewed curve. Everyone wants it to be a perfect bell curve amd it’s not.

People with a few million dollars are not middle class, no matter how you draw the curve.

Proof please? You definitely need a few million in the bank if you want a middle class retirement.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Middle class people do not own $1.8m houses. Nor do they spend $24,000 on preschool. Or $2,000 a month on food.

What a stupid article.

This^

Insulting to the other 90% to claim otherwise, but what do you expect from a website called “marketwatch” when most of us don’t own stocks. Or even have any savings. https://www.cnbc.com/2017/06/19/heres-how-many-americans-have-nothing-at-all-in-savings.html

You don’t have any retirement savings? You are not middle class.

Pretty sad then that half of America isn’t middleclass.

They are lower class/LMC. Those with a few million are middle class. 10s of millions, UMC. 100s of millions, upper class. It is a skewed curve. Everyone wants it to be a perfect bell curve amd it’s not.

People always under estimate how much a full pension is worth and how much you would have to save to equal that. At least $4M.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Middle class people do not own $1.8m houses. Nor do they spend $24,000 on preschool. Or $2,000 a month on food.

What a stupid article.

This^

Insulting to the other 90% to claim otherwise, but what do you expect from a website called “marketwatch” when most of us don’t own stocks. Or even have any savings. https://www.cnbc.com/2017/06/19/heres-how-many-americans-have-nothing-at-all-in-savings.html

You don’t have any retirement savings? You are not middle class.

Pretty sad then that half of America isn’t middleclass.

They are lower class/LMC. Those with a few million are middle class. 10s of millions, UMC. 100s of millions, upper class. It is a skewed curve. Everyone wants it to be a perfect bell curve amd it’s not.

People with a few million dollars are not middle class, no matter how you draw the curve.

Proof please? You definitely need a few million in the bank if you want a middle class retirement.

The vast majority of this country will never have a few million in the bank for retirement. So are we saying there is basically no middle class?

[Anonymous]

Anonymous wrote:

Anonymous wrote:That's one family's budget, not a study. They're doing quite well for themselves. They save for retirement, own a house, pay for private schools, and take multiple vacations per year. That's well into the UMC at a minimum.

They are doing fine but all of their savings is in retirement accounts or 529 for kids. That will not be sufficient for them to retire by 60 which was the point of the article.

A UMC family should have plenty of savings for emergency fund, home repairs and improvements, investments, etc....

That's not because they're not UMC. That's because they are making the choice to take multiple vacations in a year. If they cut one of those vacations, they could have savings.

And since when is the definition of middle class "able to retire at 60." Middle class means you retire at your SS retirement age which is 65-67.

[Anonymous]

Mr. Money Mustache website.