Is middle class really at least 6 figures?

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ZZman

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Many would say the median income around $52,000 is middle class. But with two income households and Billionaires throwing the average off, isn't at least 6 figures more realistic for a decent middle class life? I am talking the American Dream: good house, cars, vacations, savings, retirement accounts, sending kids to college etc
 
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The powers that be are working hard to eviscerate the middle class with the great race to the bottom. I would peg the average at $100K USD Household Income. (California, New York skew this)
 
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If we hadn't sent the kids to private schools and weren't helping with their college expenses, we'd be living a lot better than we are. Having said that, even in a relatively inexpensive part of the Midwest, I would have to think that it would be tough to live on a gross income less than $100k for a 4 person household and legitimately consider yourselves "middle class", whatever that means.
 
Originally Posted By: xshoex
In my town I dont know what the average income in but if you bring home 35ish you'll live pretty good
It's a poverty life for me, as I make under 35K lol
 
My wife and I each make 6 figures..... but our education and training provided us that earning potential. Why do people live in very expensive areas then complain about unaffordable housing ? Yes, middle class America today is $100,000 + And yes, the American Dream is still alive in 2017
 
Originally Posted By: xshoex
In my town I dont know what the average income in but if you bring home 35ish you'll live pretty good
Would be hard to live comfortably here on $35k. Really depends on where you live.
 
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Every year when I do our taxes I marvel at our gross income. I also marvel at how much we pay in taxes. I was thinking the other day that we've been paying into 401(k)s and 403(b)s and an IRA and we have finally hit the tipping point where it's starting to look like real money. I keep trying to impress on the kids that it took us 30 years to get to the point where we're getting comfortable, and we still don't buy luxury cars or vacation properties, and likely never will.
 
My fiancee (24) and myself (25) being in a combined 170k. With heavy savings this provides us a decent life around average or slightly above for the area we live in in Denver and once we move to NoVA for even better jobs, we will be about strictly average or slightly below.
 
Some middle class homes not too far from mine have annual property taxes of $15K, and some higher! A family of 4 would likely be struggling a bit (but doable) at under $100K. $35K will just not cut it.
 
Originally Posted By: Mr Nice
My wife and I each make 6 figures..... but our education and training provided us that earning potential. Why do people live in very expensive areas then complain about unaffordable housing ? Yes, middle class America today is $100,000 + And yes, the American Dream is still alive in 2017
I would say because most jobs don't pay anywhere near 6 figures but still need to be done.
 
In 2002, I applied for a mortgage in Palm Beach county, FL. I asked the banker what the typical income was for mortgage applicants. He replied with something like "oh, that's easy, $172,400". My income was half that, and I was shocked at his typical figures. However, when I fly over Palm Beach county, it's clearly chock-a-block full of wealth, very large and impressive homes stretch as far as the eye can see. Over 100 miles of coastline, completely full of significant wealth, from Miami to Stuart. I'm middle class, yet I live at the outskirts of town, the very West end, backing right up to the everglades, where the cheapest homes are. I'm proud of my lifestyle and my home. However, I'm a stone's throw from poverty.
 
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My wife and I broke 6 figures once in my 56 years of living. I retired from law enforcement and she from being a part time bus driver. I also worked 2 jobs for most of my career to make some extra money. Just never seemed to ever get ahead or have enough. Oh well, we could have been worse off. Luckily I get a pension and still work part time to make extra money as Healthcare premiums are hitting us hard now.
 
Coastal areas are prone to attracting wealthy residents. We vacation in Siesta Key and when we drive up to Sarasota for dinner I am amazed at the highrise condos and HIGH end automobiles. Clearly a bunch of transplants from NYC, but wealthy nonetheless.
 
There is a difference between "middle class" and average pay. Middle class might be $100,000+ but average income is not that. Combined income would be closer to that.
 
Originally Posted By: TinyVoices
My fiancee (24) and myself (25) being in a combined 170k. With heavy savings this provides us a decent life around average or slightly above for the area we live in in Denver and once we move to NoVA for even better jobs, we will be about strictly average or slightly below.
I'd say you are above average for the country, especially for your age.
 
We moved about 70 miles from where we lived in NY to PA. My job is directly 1/2 way in between. The cost of living, taxes, etc. simply forced us out of NY. My house would've been double the cost in NY and the taxes triple.
 
It's strange to me how people can talk about six-figure incomes being easy to attain.. I'm 30, beeing working full time, while pursuing a college degree. Maybe I missed a huge exit off this highway of life, cause $50K seems luxurious to me. Side note: I believe a lot of these "oppresion" issues are socio-economic, not race driven.
 
Originally Posted By: Dumc87
It's strange to me how people can talk about six-figure incomes being easy to attain.. I'm 30, beeing working full time, while pursuing a college degree. Maybe I missed a huge exit off this highway of life, cause $50K seems luxurious to me. Side note: I believe a lot of these "oppresion" issues are socio-economic, not race driven.
There are so many variables: where you live, Education, profession choice, connections etc. The reality is most jobs pay no where near 6 figures. However these jobs are still needed in society. My daughter is almost done with her Masters in Education. All that schooling and she barely cracks the 40's in income. Luckily her husband finally found a decent paying job.
 
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