1)
poor people - living hand to mouth, no savings, never going to retire, will end
up living on socsec once they can
2)
rich/wealthy - can isolate themselves from the rest of us (someone
else pointed out this nice distinction)
could
retire today and never work again and live their current lifestyle or close
enough to not matter
3)
the middle - everyone else
4)
yes, the middle would include 200k, even though 200k is light years away from
50k
5)
but
200k
is the top 5%, and they are NOT like the middle.
They
can retire early. They have massive safety nets.
So
we really should make another group.
Damn
Comfortable
Not
rich/wealthy, but not middle.
so
let's try again
1)
poor - 0k to 30k - 30% of the people
2)
middle - 30k to 200k - 65% of the people - AKA - The MIDDLE
3)
damn comfortable - 200k to 500k? 4.8% of the people - really not the middle
4)
rich/wealthy - 500k+
/you
can argue where the 200k and 500k break are, esp with COLA (NYC vs detroit for
example), but the concept stands
/damn
comfortable lowers a little, as you get older, pay off your house, have more in
savings and retirement, etc
--- more thoughts
--- more thoughts
BMFPitt: pkellmey: I also know several middle class couples who have never balanced a checkbook and have no idea what their current balance is.
A literal, physical checkbook? I doubt anyone under 30 has.
in some ways, this might be an interesting and more useful split for middle
A literal, physical checkbook? I doubt anyone under 30 has.
in some ways, this might be an interesting and more useful split for middle
1) do you bother to balance your checking or even know how much is there? (electronically or not)
2) do you carry a balance on your credit cards, even for only a month or three around xmas?
3) is your house paid off?
3) is your house paid off?
no house? lower middle (or young or moving a lot)
carry a balance? middle
house paid off? upper middle
