Reply to What is Middle Class....Really?

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Reply to "What is Middle Class....Really?"

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[quote=Anonymous]It is so stupid to try and define an income where you are middle class. If you have to work to live, but are not working poor, you are middle class. There is no magic number. A janitor earning 25k a year with no kids and a low-cost studio may be able to live a comfortably middle class lifestyle. I traveled to Europe (hostels and backpacking) while earning 30k. However a couple earning a combined 60k with two kids may be struggling to pay rent, given the cost of daycare. Two married lawyers who each are PDs or solos earning 60k, while trying to pay for 2-3k a month in student loans plus two daycares, may be barely making ends meet despite having an HHI of 120k. Take a family earning 200k, hit them with 100k annually in medical bills, and they will likely go bankrupt. Someone who earns 70k a year living off an inheritance is not middle class, they are wealthy, yet their HHI is still only 70k. Trying to peg middle class to a number is impossible. If your expenses are extremely low, it is posssible to build wealth on virtually any salary over 20/25k a year. If your expenses are extremely high, it may be impossible to build wealth even on a high salary. This is just math. So yes, people can earn the same amount, and have totally different lifestyles, and all be hardworking thrifty people. 100k + 2 earners + 5 kids + HCOL may equal no frills, no vacations, no eating out. 100k + 1 earner/1 SAH + 1 kid may equal housekeeper and international vacations.  [/quote]

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