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What net worth at 40 to be considered middle class?
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Date: January 20th, 2022 10:44 PM Author: effete stag film By middle class I mean, you’re well off enough to have a decent house in a good suburb. Not a shit house in a black suburb. Dad can afford to drive a Honda Accord. Mom is in an Odyssey. Mom and Dad have iPhones. Kids all have 529s and you’ve got at least 3. Go to church. Boys are in little league. Girls go to dance. In the summertime you can afford camps and a week away to a shore house. What do you think? NW $2.5m at 40 on $450k HHI? |
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Date: January 21st, 2022 11:58 AM Author: titillating fantasy-prone public bath I DRIVE A DODGE STRATUS
P.S. this family is exactly us and we are at $2.0M (was more, thanks Biden), ~$180k HHI. |
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Date: January 22nd, 2022 1:23 PM Author: titillating fantasy-prone public bath Now $1.98, thanks even more, Biden. (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43827547) |
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Date: January 22nd, 2022 3:49 PM Author: effete stag film I don't even want to calculate mine. This last week was brutal. (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43828519) |
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Date: January 24th, 2022 12:00 AM Author: titillating fantasy-prone public bath Still holding steady at $1.98 here (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43836010) |
Date: January 20th, 2022 10:46 PM Author: Balding dysfunction 900K (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43819046) |
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Date: January 20th, 2022 10:47 PM Author: effete stag film Is that net worth or annual HHI? (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43819052) |
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Date: January 20th, 2022 10:48 PM Author: Balding dysfunction Net worth (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43819057) |
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Date: January 20th, 2022 10:53 PM Author: effete stag film Honda Odyssey is $40k. Accord is $32k. That’s $72k just in vehicles. House in decent suburb is what, $750k? Let’s say they’ve got 20% down and paid down another 10%. That’s $225k just in the house. $900k in mom’s retirement. $900k in dad’s retirement. Kids all have $100k in 529s. $100k in cash/savings/I bonds (for emergencies). $50k and growing in the vacation/kitchen reno fund. (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43819098) |
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Date: January 20th, 2022 10:56 PM Author: Balding dysfunction The $1.8M in retirement accounts isn't realistic. (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43819128) |
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Date: January 20th, 2022 10:58 PM Author: effete stag film What is a realistic retirement account balance for a middle class dad and middle class mom at age 40 with 3 or 4 kids in the house? (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43819148) |
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Date: January 20th, 2022 11:00 PM Author: Balding dysfunction 500K (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43819178) |
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Date: January 21st, 2022 6:29 AM Author: hyperventilating vibrant antidepressant drug dingle berry average retirement savings at age 40 is somewhere between $60-100k, and that's *average*. Median is likely significantly less than that.
$500k at 40 is top 2% easy. |
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Date: January 21st, 2022 6:28 AM Author: hyperventilating vibrant antidepressant drug dingle berry The cars depreciate immediately and are functionally worth half of those figures. The family bought them used anyways, 3 years old and about 40,000 miles on them. They plan to use them until 130,000 miles or so, about 7 years' worth of driving.
Middle class families are not in $750k houses, they are in houses that they paid $300k for and are now worth $425k. They probably paid 10% down, were paying PMI until the boom earlier this year, and are 6 years into a 30 year mortgage and have paid down less than 5% of the principal at this point. So their equity is likely closer to $175k.
The retirement accounts are at $100k each, if they've been disciplined and diligent in putting away whatever their company's match is. In all likelihood the number is even lower. Most people have little to no retirement savings.
The kids 529 accounts probably have $30k, $20k and $10k in them based on age and gifts from family, and again this is assuming a fair bit of diligence and discipline.
Most people have next to nothing in savings and don't even know what the fuck a bond is except that their grandma got them one when they were like 4.
And reno fund? LMAO. People use the equity in their homes to pay for renovations.
The family you are describing is probably top 1% in all facets except home equity and top 4-5% overall. |
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Date: January 21st, 2022 9:29 PM Author: exhilarant skinny woman temple nice to see someone still tethered to reality (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43824711) |
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Date: January 22nd, 2022 3:53 PM Author: Bateful Unhinged Stock Car (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43828534) |
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Date: January 22nd, 2022 7:51 PM Author: glittery french digit ratio station Lol at counting the sticker price of your cars if they were brand new in your net worth.
Also a brand new 2022 Honda Accord is not even 30K lol at owning one counting as a net worth +32K |
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Date: January 20th, 2022 10:48 PM Author: diverse haunted graveyard 700k in Midwest.
$1.75M in NYC/BOS area |
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Date: January 20th, 2022 10:50 PM Author: diverse haunted graveyard 2 M in CA though heavily weighted towards home equity (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43819076) |
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Date: January 20th, 2022 10:50 PM Author: vivacious psychic boltzmann $1m in the Midwest; $5m on the coasts. (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43819079) |
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Date: January 20th, 2022 10:56 PM Author: spectacular bisexual school cafeteria UMC, yes. 1m may not even be enough in the Midwest anymore. (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43819125) |
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Date: January 21st, 2022 12:09 PM Author: titillating fantasy-prone public bath I’d say the coasts vs. midwest multiplier is more like 2.5x than 5x, but I’m not sure if that means your midwest figure is low or your coast figure is high. (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43821252) |
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Date: January 20th, 2022 10:58 PM Author: Crystalline comical national Anything below $75 million net worth at 40 is lower middle class. HTH (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43819154) |
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Date: January 20th, 2022 11:00 PM Author: beady-eyed space (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43819168) |
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Date: January 20th, 2022 11:00 PM Author: effete stag film On 75m net worth, how many lakh should you place into each child’s trust account? (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43819173) |
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Date: January 21st, 2022 12:12 PM Author: Drunken travel guidebook police squad If I may, credited (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43821270) |
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Date: January 20th, 2022 11:02 PM Author: maniacal hateful patrolman stead ITT: incel retards with net worths of under 50k posting outrageous figures. (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43819195) |
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Date: January 20th, 2022 11:03 PM Author: effete stag film Lol at your pink little half lakh net worth (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43819207) |
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Date: January 21st, 2022 12:13 PM Author: Drunken travel guidebook police squad If I may, upper middle class starts at about 1 lakh crore. (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43821280) |
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Date: January 20th, 2022 11:44 PM Author: marvelous set keepsake machete (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43819470) |
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Date: January 20th, 2022 11:37 PM Author: Concupiscible hunting ground Decent house in a good suburb is becoming prohibitively expensive if you don't already own a home. Like that's not even a thing most "middle class" people can do anymore.
The cheapest 4 bedroom house on the market in my town right now is $800k and has no yard and i don't even live in a particularly fancy town. |
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Date: January 21st, 2022 8:19 AM Author: effete stag film This is my experience. My wife and I bought a house too early and had no real guidance other than some scam artist realtor that just wanted a quick sale. Wife was pregnant and irrational and wanted a house now. We bought in a black suburb which isn’t terrible, it’s just the schools are shit, property values are low, you have to drive to everything because things like grocery stores go up on the main thoroughfare interchange, but not in the black suburbs themselves. We have a pretty good park about 2 miles away, but there’s always lots of kids there speaking Spanish and other languages that I don’t know. It’s hard because my kids want to play with them and they just stare back blankly with the cold dead eyes of incomprehension. So our house is going nowhere, I’d like to look at an upgrade in my 40s here now that the kids are older but my earnings have been a complete shit show and the housing market is just complete batshit crazy. Go spend all your money on a depreciating asset that you have to pay a fuck ton of tax on every year, maintain, repair, and remodel at exorbitant expense and time just to sell! What a wonderful idea! America is such a fucking scam country. I fucking hate it. Everything is always just out of grasp. |
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Date: January 21st, 2022 8:43 AM Author: vivacious psychic boltzmann Sounds like your problem was doing a pisspoor job of selecting your first house. Your neighborhood sounds like utter shit. (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43820275) |
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Date: January 21st, 2022 11:06 AM Author: effete stag film Perhaps I should have devoted a ton of time and energy into selecting a house and haggling nonstop and driven my wife up the wall. Home buying is utter shit and nut jobs that think of homes as some kind of showpiece or statement about themselves make everything worse by far. |
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Date: January 21st, 2022 11:15 AM Author: Sick black woman (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43820906) |
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Date: January 21st, 2022 12:18 PM Author: Drunken travel guidebook police squad If I may, unironically yes, you should have spent a shitton of time finding a house. The first three rules of real estate are location, location, and location. It doesn't matter how the house looks, it matters where it is. Homes in "diverse" school districts or black areas not rapidly gentrifying are *never* a good idea. You should have bought the shittiest house on the nicest street in the nicest suburb you could afford. (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43821307) |
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Date: January 22nd, 2022 5:44 PM Author: gay locale This is a hell of your own making. Why the fuck would you buy a house in a bad school district if you're pregnant.
What the fuck did you THINK would happen to your home value or even the quality of schools??? |
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Date: January 22nd, 2022 6:33 PM Author: effete stag film My wife just said “buy a house.” She wouldn’t even let me negotiate. She said, “they won’t say yes if you negotiate.” House had been on the market for 9 months and when we first toured it we saw rat droppings everywhere and a dead bat inside. |
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Date: January 24th, 2022 12:53 AM Author: medicated soul-stirring coffee pot Your problem appear to be that both you and wife are retarded poors. (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43836258) |
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Date: January 21st, 2022 8:48 AM Author: jade sandwich This. Owning a home is for upper class people now. Especially younger millennials/zoomers will need to spend 7 figures plus for a normal 3/2 1500 sq ft (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43820290) |
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Date: January 21st, 2022 11:16 AM Author: drab personal credit line gunner This makes me worried about my kids future (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43820911) |
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Date: January 21st, 2022 12:08 PM Author: Concupiscible hunting ground yup. it's not enough to get them through to adulthood and educated. we have to make sure they are set up with a home so they have somewhere to live otherwise they will be completely fucked. (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43821244) |
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Date: January 21st, 2022 9:33 PM Author: exhilarant skinny woman temple impossible even if you own a home @ <500k hhi to set all of them up with a home. i will leave them my house, help with down payments if i can (and it won't be much if prices continue to rise), and they will just have to figure out the rest. (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43824744) |
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Date: January 24th, 2022 9:16 AM Author: Concupiscible hunting ground yeah that's what i meant. there's zero chance i'm able to buy outright 4 houses for my kids. I meant like give them enough of a downpayment so that they can buy a decent house in a decent location with a manageable mortgage payment. (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43836871) |
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Date: January 24th, 2022 1:43 PM Author: Magenta elastic band school Idk that I see it that way. Sure, in a lot of places that's true. There is also much of the country where it costs nothing to buy a place. More work is going remote. That's basically the solution. (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43838995) |
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Date: January 21st, 2022 12:20 PM Author: Drunken travel guidebook police squad If I may, we're in a bubble. Home prices will come down soon enough. (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43821318) |
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Date: January 20th, 2022 11:39 PM Author: blue rigpig doesn't a decent house in the suburb cost $10 million or something? (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43819448) |
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Date: January 21st, 2022 5:34 AM Author: effete stag film (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43820028) |
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Date: January 21st, 2022 6:28 AM Author: idiotic athletic conference lay -200k (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43820067) |
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Date: January 21st, 2022 9:31 AM Author: Bespoke Brilliant Pistol (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43820399) |
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Date: January 21st, 2022 9:35 AM Author: jet bawdyhouse gaming laptop (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43820406) |
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Date: January 21st, 2022 6:37 AM Author: hyperventilating vibrant antidepressant drug dingle berry true middle class is around $80k HHI, this would be like one parent with a middle-tier job at a small company making $60k-$65k and the other parent working part-time making $15k-20k.
If they were lucky they bought a small house in an exurb or countryside for under $250k and their mortgage is around $1400 which feels like a lot. Or possibly they got help from their parents and splurged for a $350k house.
The cars are purchased used.
The 529 savings are likely not on the radar until later, if if anything is getting deposited it's like $100/mo per child.
They split the beach house with another middle class family, possibly several.
Camps are local, generic, camps and are not sleepaway.
They make enough to make ends meet but are not able to substantially save. Whenever they try, something comes up and wipes out all their progress. A kid gets hit in the mouth with a baseball, the axle on the Honda snaps, the basketball pole in the drive falls over and breaks a window, etc.
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Date: January 21st, 2022 7:39 AM Author: Concupiscible hunting ground This is a description of middle class from 1993. (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43820154) |
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Date: January 21st, 2022 8:39 AM Author: hyperventilating vibrant antidepressant drug dingle berry What in your mind is a middle class life in 2021, including HHI and net worth? (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43820261) |
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Date: January 21st, 2022 9:36 AM Author: Concupiscible hunting ground I suppose it's geographically driven, but where I live, NJ, there's no way anyone is buying a home that has enough space for kids (i.e. at least 3 bedrooms) for $250k. That's what my parents paid for the house I grew up in in 1986, though it did have a 4th, if small, bedroom. I think it also depends on your definition of middle class. I think of the classes broadly as Poverty > Working Class > Middle Class > Upper Class.
Obviously there's a broad range of financial circumstances making up the middle class, but I think the glue is a level of comfort beyond living paycheck to paycheck and opportunity for home ownership but still needing to work.
A family of 4 in NJ with a HHI of $80k is barely scraping by. If they live in a safe town, their rent/mortgage payment for a 3 bedroom home is going to be at least $2,500 per month. That's half of this family's net income leaving $2,500 for utilities, cell phones, food, clothing, car payments/insurance, kids' activities.
Not only are these people living paycheck to paycheck, they are racking up credit card debt just to make ends meet.
I think a family a 4 to be considered "middle class" would have a HHI of at least $120k. This is basically 2 youngish teachers. |
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Date: January 21st, 2022 10:00 AM Author: hyperventilating vibrant antidepressant drug dingle berry >A family of 4 in NJ with a HHI of $80k is barely scraping by. If they live in a safe town, their rent/mortgage payment for a 3 bedroom home is going to be at least $2,500 per month. That's half of this family's net income leaving $2,500 for utilities, cell phones, food, clothing, car payments/insurance, kids' activities.
Yes, this is why they move to Pennsylvania and commute.
$120k HHI in New Jersey is around the 70th percentile. It's over 80th percentile nationwide. Middle Class is typically defined as the middle quintile of earners, i.e. 40th-60th percentile. Your two young-ish teachers making $120k combined are not middle class, they are at the lower end of upper middle class and will soon be considered upper middle class if they have normal career progression.
This is the point I am trying to make ITT. It's fucking rough out there. Most us of seem to have this notion that middle class means a decent home in good repair, decent and reliable cars, a bit of a financial cushion, and general stability. In reality that is like a top-third or even top-25th percentile outcome in 2021 clown world America. Most people who want that ideal can't afford it anywhere near a city center so they go as far out as they can tolerate.
This is what people mean when they say the middle class doesn't exist anymore. People cannot have the lifestyle that you grew up with on the salaries that are available now. |
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Date: January 21st, 2022 10:39 AM Author: Concupiscible hunting ground Yeah i don't think we actually disagree on anything except the semantics of defining "middle class". You are 100% correct that the standard of living we associate with a "middle class" lifestyle is increasingly unattainable. (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43820695) |
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Date: January 21st, 2022 8:51 AM Author: Khaki Persian (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43820296) |
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Date: January 21st, 2022 8:56 AM Author: vivacious psychic boltzmann No it’s not. A family making 80k in ‘93 was considered on the verge of the UMC. (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43820313) |
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Date: January 21st, 2022 8:15 AM Author: Passionate milky coldplay fan clown What retirement look like for these people? Is there any planning for it? (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43820222) |
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Date: January 21st, 2022 8:51 AM Author: jade sandwich Pension ($30k/yr) SS ($20k/yr) plus IRA/Roth IRA (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43820295) |
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Date: January 21st, 2022 8:54 AM Author: Passionate milky coldplay fan clown Lmao at these people getting a pension. Lmao at them even knowing what a pension is. (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43820308) |
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Date: January 21st, 2022 8:59 AM Author: hyperventilating vibrant antidepressant drug dingle berry Is everyone here flaming or just really this out of touch?
Less than 15% of all jobs offer a pension. Most people won't get one and most people aren't able to save for retirement.
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Date: January 21st, 2022 9:00 AM Author: Passionate milky coldplay fan clown So what happens when these people hit 65 (or more likely, 68-70)? (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43820327) |
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Date: January 21st, 2022 9:02 AM Author: hyperventilating vibrant antidepressant drug dingle berry They keep working, or their kids take care of them, or they die.
Edit - or if they are lucky, they inherit like $75,000 and they use that money as their retirement. |
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Date: January 21st, 2022 8:47 AM Author: Chestnut range to me middle class just means not poor lmao @ these striver lawfags who have to be perpetually middle class in their minds lest they become unrelatable elites throwing out these million dollar figures when you know damn well mom and daddy had nowhere near that amount of money when they grew up |
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Date: January 21st, 2022 8:56 AM Author: vivacious psychic boltzmann (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43820316) |
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Date: January 21st, 2022 9:06 AM Author: Passionate milky coldplay fan clown There's a lot of pathology on XO, and these threads highlight it. Lots of people pull out the lines like A million dollars is nothing to me! so they can seem rich. Also, some peopl3 love seeing themselves as victims, and have done so for many years, and if you tell them they've actually become fairly rich, they can't admit it and start sputtering about someone who has more. (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43820342) |
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Date: January 21st, 2022 9:28 AM Author: nofapping salmon goyim center (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43820393) |
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Date: January 21st, 2022 9:28 AM Author: nofapping salmon goyim center (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43820392) |
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Date: January 21st, 2022 10:01 AM Author: Mildly Autistic Brethren Locus In fairness this is a striver board of neurotic lawyers who aren't going to look at it this way (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43820525) |
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Date: January 21st, 2022 9:37 PM Author: exhilarant skinny woman temple exactly. ljl @ fat fuck dupa buying each of his soon to be russian kids a house.
my parents gave nothing. my wife's parents chipped in $50k. people on xo and lawyers generally put too much pressure on themselves.
it's fine. they will be fine. they'll make their own luck. |
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Date: January 21st, 2022 9:20 AM Author: Concupiscible hunting ground (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43820379) |
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Date: January 21st, 2022 10:19 AM Author: Passionate milky coldplay fan clown Last paragraph really drives it home. (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43820580) |
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Date: January 21st, 2022 10:52 AM Author: vigorous mustard resort goal in life What you're describing is precarious lower middle class. (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43820777) |
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Date: January 24th, 2022 10:41 AM Author: hyperventilating vibrant antidepressant drug dingle berry No it's not. Lower middle class is $30-50k depending on area. A lower middle class family has one earner who makes $25/hr working in a warehouse, and gets few to no benefits. His wife stays home with the kids. They rent a shitty place in or around a tertiary city like Syracuse or Scranton. They have no savings whatsoever. The kids' clothing is hand-me-downs or second-hand stuff. If they have a car, it's old as fuck and beat up too. But more likely they take the bus most places. Their furnishings are mostly old and beat up too. Their house is a disaster. Their credit cards are maxed out. All of their extended family is in an equally precarious or even worse position than they are. (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43837471) |
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Date: January 21st, 2022 10:51 AM Author: drab personal credit line gunner Weird inclusion of the iPhone thing. I make a lot less than that and this is basically our life style. No shore house but a rental. Maybe a million net. We got lucky with timing on house purchases and an inheritance bump. We both have a pension. (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43820770) |
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Date: January 21st, 2022 11:09 AM Author: effete stag film I meant a rental shore house in the OP. Like you go and rent the house at the shore for a week and go home, not some kind of second home or anything like that. (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43820880) |
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Date: January 21st, 2022 11:14 AM Author: drab personal credit line gunner Got ya. We do that. I've never flown anywhere with all of my kids. So only local vacations.
We live in a fairly high col area. Also do private school. It's all basically how I grew up. But the hhi in op seems wildly high. |
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Date: January 21st, 2022 10:51 AM Author: Thriller Dopamine Bbw $5M middle class, 8-10M UMC (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43820773) |
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Date: January 21st, 2022 11:54 AM Author: Magenta elastic band school Given those standards the question of "where" is extremely important. The NW needed to do that in the SF Bay area is very different than in Cleveland. For the former you're looking at a $1.5-2m+ house, for the latter you're looking at maybe a $400k house (or even less). You could meet all of those requirements on a $200k net worth.
Also, words like "a good neighborhood" (which, in some places is top whatever percent) doesn't imply middle class. Middle class = not poor. If you are talking about top 5-10% of a location, then that's not really middle class. It sounds like this is really talking about UMC. |
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Date: January 22nd, 2022 4:08 PM Author: effete stag film I would consider my neighborhood very safe. Yes, the police come around and search for people every now and then. It's always a little alarming to see them going up and down the streets with their brights on late at night. Yes, we have break ins. Yes, lots and lots of my neighbors smoke pot and you can smell it all the time. Yes, sometimes the kids roll around and are up to no good. Yes, there are trash collectors that come by the night before trash collection to rummage through whatever gets put out at the curb. My neighborhood is also very black. I'd say every other house is a black family. about 25% of the houses are rentals. Some of them are Section 8 rentals with like 10 people living in a 4 bedroom, 2250 sq foot house. Is this a safe well-to-do suburb? Probably by some people's standards. But it is also an undesirable black suburb with shit schools. |
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Date: January 21st, 2022 12:09 PM Author: glassy infuriating box office trust fund $7000000000000000000000 (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43821253) |
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Date: January 21st, 2022 12:10 PM Author: Drunken travel guidebook police squad If I may, lower middle class at 40 is probably $500k. Middle class starts at around $1.5M or so. (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43821258) |
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Date: January 21st, 2022 7:35 PM Author: Trip cowardly hospital gay wizard For median COL (Charlotte or what have you) it’s $1,000,000k because that’s 92nd percentile, which is the official middle class net worth percentile cutoff for xo
https://dqydj.com/net-worth-by-age-calculator-united-states/
Higher-COL areas have fucked-ass net worths imo unless they own a home with lots of equity which requires $$$$. So 92nd percentile net worth in mfh might not be that high at all |
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Date: January 22nd, 2022 8:55 PM Author: navy big kitchen that's for age 40-44. 4 prime earning years added. So it's probably more like 800k at 40. (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43830024) |
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Date: January 22nd, 2022 10:12 PM Author: Trip cowardly hospital gay wizard They data probably predates inflation sooooooo yeah (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43830475) |
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Date: January 21st, 2022 9:44 PM Author: Insecure Saffron Pervert Private Investor Middle class doesn't have wealth. Just permanently wage cucking (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43824799) |
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Date: January 21st, 2022 9:44 PM Author: sienna library 1,000 ounces of silver (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43824801) |
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Date: January 22nd, 2022 1:23 PM Author: titillating fantasy-prone public bath (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43827551) |
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Date: January 21st, 2022 9:45 PM Author: jet bawdyhouse gaming laptop not really a specific number but ideally u should be able to float ur daughter chilling in brooklyn so she can get ran through by art calebs (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43824802) |
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Date: January 22nd, 2022 4:18 PM Author: Mauve boyish party of the first part trailer park strictly regional and not exclusively tied to net worth. middle class means financial stability, access to home ownership is likely, higher education is on the table, you can reasonably expect to retire one day, and you are reasonably in line with civic society of some sort. it increasingly has less to do with two cars, a pension, etc. those are all working class trappings for many. educational tracks and social ties matter more for middle class status than simple dollar amount. there Staten Island families where dad makes $160k annually as a NYC firefighter and mom makes another $66k at the DMV or something, kids go to shitty public schools and home is modest, but overall fine financial security and fully insured. kids can go a to a college if it’s not full-sticker private and they work part-time. this doesn’t fit with XO’s broad definition of working or middle class.
there are millions of families in he US where the father is enlisted military and the mom doesn’t work. kids are retards, no books in the house, $56k leased Tundra in the driveway. no grandparents around and mom and dad get drunk every weekend watching TV. HHI is $60K and good military housing subsidies. this is the current ‘lower tier’ fabric of working class America and these people are everywhere, shopping at target right next to you.
or just think about it like actual upper class people and realize that middle class means comfort but no generational money or real options in life but to keep comfortably grinding. working class means you have to do shitty jobs and prole social networks. |
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Date: January 22nd, 2022 7:38 PM Author: effete stag film Anyone on here claiming that proles have no money and are all in poverty are absolutely insane. I see those huge $60k+ extended pickup trucks wherever I go. They are basically ubiquitous in the suburbs. Also, you have to be a multimillionaire to drive a truck like that because they are so expensive. Also, these trucks typically look like they’ve been recently detailed (meaning someone’s consistently spending money to maintain these large trucks). I don’t believe that the suburbs have people that are under $200k HHI. It’s just not possible. |
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Date: January 22nd, 2022 7:55 PM Author: glittery french digit ratio station >Also, you have to be a multimillionaire to drive a truck like that because they are so expensive
I personally know a ton of hicks who drive those trucks and make five figures annually, this includes my brother who earns around 50K/yr in his mid-30s, has a 225K house under contract right now, and drives a truck just like that
he also took 10 years to graduate from community college
you have no idea the degree to which the middle class is utterly FUCKED in this country, and why insanely high income taxes + single-payer is an inevitability while we're still alive, bc millennials and gen z are royally raped in the asshold from glocap |
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Date: January 22nd, 2022 9:55 PM Author: hairraiser boiling water This guy gets it. XO is so overrun by out of touch ungrateful elite fags who have no clue how fucked the actual middle class is. (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43830351) |
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Date: January 23rd, 2022 7:00 PM Author: Passionate milky coldplay fan clown It took me a long time to grasp this, but those trucks, which are indeed ubiquitous, are financed for 84 months at 0% interest (the "interest" is built into the high price). So these proles have a payment of $800 a month, or only about ten grand a year. They often live in shitty, cheap houses or mobile homes, so they can make the payments work, at least for a while. Those trucks are their most prized possessions and the most valuable things that they own, except their ownership is sort of a legal fiction since they don't actually have any equity in them. (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43834401) |
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Date: January 23rd, 2022 11:46 PM Author: Mauve boyish party of the first part trailer park (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43835957) |
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Date: January 24th, 2022 1:22 AM Author: Aquamarine theater stage giraffe If you want to make truck proles cranky, tell them that the median income for an Accord buyer is over $100k, while the median income for the buyer of a more expensive F-150 is only in the $80k range. (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43836358) |
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Date: January 22nd, 2022 7:50 PM Author: glittery french digit ratio station there is no such thing as middle class anymore, and if your net worth isn't minimum eight figures you're the underclass (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43829692) |
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Date: January 22nd, 2022 8:49 PM Author: effete stag film Is there anyway to go from 7-figure net worth at 40 and get to 8-figure net worth by retirement age? (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43829996) |
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Date: January 25th, 2022 1:53 AM Author: titillating fantasy-prone public bath Yes, it’s reasonable to double every 7 years, 28 years to age 68 gets you to 16x. (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43842721) |
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Date: January 23rd, 2022 11:30 AM Author: drab personal credit line gunner Tbf, traditionally anyone that worked was considered poor. (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43832185) |
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Date: January 23rd, 2022 12:33 PM Author: vivacious psychic boltzmann (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43832435) |
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Date: January 23rd, 2022 12:34 PM Author: vivacious psychic boltzmann My favorite part of these threads is watching the actual proles go nuts at the answers. It’s a great psychological sifting mechanism. Thanks (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43832438) |
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Date: January 23rd, 2022 2:22 PM Author: Mildly Autistic Brethren Locus If you were an academic striver (went to a top undergrad/top grad school) and then grinded at a challenging career for 10+ years, a career that is mostly undesirable except for the fairly large paychecks, of course you'd expect to be financially well-off by 40, otherwise why the fuck were you doing it. And your peers from school or career would generally be financially successful on average as well, and those are the people who you'd primarily be comparing yourself with. (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43832883) |
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Date: January 24th, 2022 1:18 AM Author: Aquamarine theater stage giraffe age * median income = lower threshold (http://www.autoadmit.com/thread.php?thread_id=5012505&forum_id=2#43836345) |