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

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]If you're pulling in $200K but live in a McMansion with no equity and a massive ARM, leverage yourself to your eyeballs to take extravagant vacations, and lease 7-series' for each of your kids, and losing your job means you lose all of that the next month the bills are due, you're working class.

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lol..  nobody making 200k is doing any of that stuff.  200k = getting by, no private school, shopping at Aldi or shoppers, driving Hondas and living in a 1800sf shitshack with a tiny lot and a carport.  To do the stuff you are talking about would be at least 400-500k or more if you are really leasing 7 series for your kids.  That's probably actually getting to $1M.[/quote]

Did you actually read what I wrote? My post was saying that high income people living outside their means aren't middle class.  The whole point is that they can't actually afford this stuff. Sure they can [b]pay[/b] for it, but they can't [b]afford[/b] it.

For example:

McMansion, ~$5,500/mo with a crappy rate: https://www.redfin.com/VA/Fairfax/8801-Southlea-Ct-22031/home/9621068

Two 7 series leases ~$2,200/mo: https://www.bmwusa.com/special-offers/lease.2017-740i-xDrive-Sedan.html

Credit card payment on a $15,000 yearly vacation: $1,350/mo

Total: $9,050

Net monthly pay on $200K: $11,500

Now they have about $2,500 a month left over for food, household expenditures, etc. That's gonna go pretty quick because obviously this kind of person wouldn't be caught dead at Aldi, and I'm sure they will insist on going out somewhere fancy at least a few times a month. (on the credit card of course!)

Which means that while they can pay for this sham of a lifestyle in the short term, they are racking up debt and a job loss or major emergency will wipe them out, which is exactly my point of why middle class cannot be defined by income alone, since they are clearly not middle class in the above example even though they could easily be middle class [i]with the exact same income[/i] if they lived within their means.

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