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

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

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[quote=Anonymous]You only have to look as far as the methodology this article uses to justify its premise: [b]"He said that the numbers have been vetted by thousands of Financial Samurai readers who face raising their families in expensive cities like San Francisco, Los Angeles, New York, Boston and Washington, D.C"[/b]

Oh, pleaaaaase. This is hardly a disciplined economic analysis by a respected research firm. The article is using a readership base from the very cities whose "middle class" is overspending at every turn (save for childcare, perhaps) to justify the "woe is my middle class budget and lifestyle" attidude.

If this is your budget in your late 30s/early 40s with two young children, you need to get your priorities in check, stat. If the goal is really to retire before 60, you CANNOT be spending $5,890 a month in PITI, $300 a month on charitiies (though the intent is noble), and $350 a month on baby toys (I mean really, just spare me), and so on.

Sometimes I think the late Gen X'ers (I'm one of them) are even worse than millenials in this regard. At least millenials have gotten thrifty and creative.

If you want a research-based tool for understanding where your family falls on the class hierarch, use the below link instead of some silly article that polled Financial Samurai readers. This article would probably consider me lower class; Pew Research says my family and I are upper class.

https://www.pewresearch.org/fact-tank/2018/09/06/are-you-in-the-american-middle-class/.

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