Reply to Upper middle class (not adjusted for COL) ends at 350K HHI nationally, DC is 476K-525K

Forum Index » Money and Finances

Reply to "Upper middle class (not adjusted for COL) ends at 350K HHI nationally, DC is 476K-525K "

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous]You can't define classes strictly by income.  It makes no sense, when people are going to draw conclusions about lifestyle from it.

What if I have zero income but $10 million under my mattress?  I am in poverty?  No...

What if I have $100k income and zero debt?  I am at the top of middle class?  Ok...

But what if, in order to get my $100k income, I had to go into debt $200k for my education, and I have a drag of -$3000 every month for the next 20 years.  I am the same as the guy above making $100k?  No...

Same thing, but I have to live in a HCOL area and spend extra money on childcare to have both spouses work all day?  Not the same as someone in LCOL area.

It should really be based off of a household's free cash flow.  How much discretionary money you can spend every year after essentials are paid for (typical housing in your area, typical food budget, childcare necessary to earn income, vehicles necessary for income, student loan debt necessary for income, taxes).  It is very possible for a family in D.C. making $400k to have the same discretionary spending power as a family making $100-200k in different circumstances when both families are equally thrifty.  [/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics