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Posted on 3/6/22 at 9:12 am to Ezzard
If you have a family of 4 with both parents working , 100k per year combined is definitely lower middle class.
I tell my wife all the time that I don’t know how people living on an average ( or single) income are making it right now.
I tell my wife all the time that I don’t know how people living on an average ( or single) income are making it right now.
Posted on 3/6/22 at 9:13 am to Ezzard
$100,000 as a family income is decent where I live. You could do all the basics and have a modest house in town, hence, middle class. Two parents making $100,000 each would probably put you in the top 5% of income earners in the county; you’d be wealthy. It’s all relative, I guess.
This post was edited on 3/6/22 at 10:13 am
Posted on 3/6/22 at 9:14 am to Ezzard
Around here a family of 3-4 would be struggling with that.
Would be okay gulf coast or in Tennessee/Arkansas/Missouri if you are outside the larger cities….but it probably won’t be like that for much longer.
Would be okay gulf coast or in Tennessee/Arkansas/Missouri if you are outside the larger cities….but it probably won’t be like that for much longer.
This post was edited on 3/6/22 at 9:16 am
Posted on 3/6/22 at 9:16 am to Ezzard
quote:
100K is barely above the poverty line.
Posted on 3/6/22 at 9:16 am to Spawn
quote:
If you have a family of 4 with both parents working , 100k per year combined is definitely lower middle class.
I am really curious to see how y'all define less than that, considering the median household income in the US is about $67k
I've seen estimates that $100k household income is the top 20-33%.
How can you define that as "lower middle" class, given the above data?
You think the "lower" middle class starts at the top 1/3 and goes up into the top 10%? What about, you know, the other 2/3 of the country?
Posted on 3/6/22 at 9:19 am to Zach
quote:
100K in New Iberia.
OT Baller status
Posted on 3/6/22 at 9:21 am to Ezzard
It seems most people are living large and have said frick retirement. I also see people stretch to buy a pretty house/car and they don't have vacation/hobby money. The math doesn't add up.
Posted on 3/6/22 at 9:22 am to Ezzard
Surely employers and companies will raise employee pay to account for the increased cost of living
Posted on 3/6/22 at 9:24 am to SlowFlowPro
quote:
I am really curious to see how y'all define less than that, considering the median household income in the US is about $67k
I've seen estimates that $100k household income is the top 20-33%.
How can you define that as "lower middle" class, given the above data?
You think the "lower" middle class starts at the top 1/3 and goes up into the top 10%? What about, you know, the other 2/3 of the country?
I question how much taxes pay into that. Many on here probably don't factor in that people making 60-70k as a family pay negligible amounts (or nothing) in taxes and get a lot of government breaks a family making 250k don't get.
Posted on 3/6/22 at 9:27 am to SlowFlowPro
quote:
I've seen estimates that $100k household income is the top 20-33%.
I've seen the same numbers.
Another thing to consider is age. I know a lot of retired couples who live very well on 100K because they have zero debt. House and cars are paid for, no more kids in college.
Posted on 3/6/22 at 9:28 am to SlowFlowPro
quote:
You think the "lower" middle class starts at the top 1/3 and goes up into the top 10%? What about, you know, the other 2/3 of the country?
There are a lot of poor people in this country all you have to do is take a trip to your local Walmart and you will see them.
You can get by on 100k family income ( pre-tax) but your are survival mode. It would be hard to make any long term financial plans like putting aside money for retirement or paying for college. God forbid you have any significant set back and have to take on a lot of debt.
Living pay check to pay check is lower middle class.
Posted on 3/6/22 at 9:29 am to Ezzard
Median household income in The Woodlands, TX is around $112k but that figure is from 2019.
Posted on 3/6/22 at 9:59 am to Ezzard
It depends on where you are, but on average it's pretty much dead center for middle class for a family but I would think upper middle or at the bottom of upper class for someone single.
Posted on 3/6/22 at 10:06 am to Ezzard
Shreveport. Well, Forbings Shreveport.
Posted on 3/6/22 at 10:10 am to Ezzard
quote:
You can barely afford to live on $100,000 in some major cities east and west coat. 100K is barely above the poverty line.
Name somewhere that 100K is still upper middle class. Somewhere you would actually want to live.
Where I live is a perfect example.
Posted on 3/6/22 at 10:10 am to Ezzard
Around 10% of income earners make over 100k and 17% of households bring in over 100k. Inflation sucks ,but let's not go crazy here if you can't live comfortably on 100k a year than you have a spending problem. With the exception of a few places in the US like San Francisco and DC 100k is upper middle class and in those places it would be like middle class.
Posted on 3/6/22 at 10:18 am to stelly1025
quote:
if you can't live comfortably on 100k a year than you have a spending problem.
See this is the problem. People seem to have a different idea of comfort now than in days gone by.
Furniture is a little worn, kitchen could use a remodel, bathroom looks same as it did 15 years ago, car is over 4 years old…oh my god you are living in a shack, driving a beater, in poverty.
Idea of a decent vacation is a week at a gulf coast beach and not a week in the Bahamas? You are poor.
I grew up poor. Eating mostly deer and veggies from the freezer we put there. Heating the house with the fireplace and wood stove with wood we cut/split ourselves. Cars got repaired not replaced and that happened in the garage not at someone’s shop. Vacation was a once every 5 years kinda thing.
As a teen I was responsible for buying any family groceries to substitute for the freezer food we had put away one week a month with my money from part time job.
Thing is, I didn’t know I grew up poor til I got older and people told me.
Posted on 3/6/22 at 10:24 am to Zach
quote:
There is a big difference between 100K in Manhattan and 100K in New Iberia.
This is correct, it's according to where you live. This is around what our income is and if we were in New York or Boston that probably wouldn't be very good but here just outside of Augusta Ga we're living pretty damn good, especially with the kids grown and gone.
We ain't rich but we aren't really wanting for anything either
Posted on 3/6/22 at 10:27 am to Ezzard
Housing is killing the hopes and dreams of a lot of young people. It's preposterous that townhomes 30+ minutes from places like Nashville are starting in the low $500k range.
Sure, you can buy a piece of shite 30+ y/o house that has multiple problems for $400k, but you do so with the understanding that a new roof is going to cost you $10k and god only know what else is going to crop up.
I know a young couple that just paid $380k for a fixer upper. It's kind of tragic that they're paying ~$2k a month for something that would have sold for $150k a couple years ago.
If things don't change, you're going to see a revolution. People are sick of working away their lives for nothing to show for it.
Sure, you can buy a piece of shite 30+ y/o house that has multiple problems for $400k, but you do so with the understanding that a new roof is going to cost you $10k and god only know what else is going to crop up.
I know a young couple that just paid $380k for a fixer upper. It's kind of tragic that they're paying ~$2k a month for something that would have sold for $150k a couple years ago.
If things don't change, you're going to see a revolution. People are sick of working away their lives for nothing to show for it.
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