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Old 04-02-2014, 04:30 PM
 
Location: Nort Seid
5,288 posts, read 8,825,562 times
Reputation: 2459

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Quote:
Originally Posted by ChiGuy2.5 View Post
I wasn't looking for financial advice. It was a discussion around whether or not I am considered lower middle class or middle middle class. Personally, I believe I am lower middle class. I choose to spend my money on the more expensive clothes and go golfing at some nice golf clubs every now and then. I am not broke by any means. However, I still don't think I qualify for middle middle class. IMO if I could make what I make AND be a part of a dual income household then most definitely. I am not though. I pay all of my own bills and its not like I can go out every weekend and go nuts (like some of my friends do).

I am not looking for financial advice, I am doing just fine.
What is your operating definition of "going nuts," 4 star restaurants, box seats, hookers and blow?

I think you're confusing upper middle class with the financial security of being from an Old Money family.
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Old 04-02-2014, 04:34 PM
 
Location: Chicago, IL
1,988 posts, read 2,206,449 times
Reputation: 1536
Quote:
Originally Posted by ChiGuy2.5 View Post
I wasn't looking for financial advice. It was a discussion around whether or not I am considered lower middle class or middle middle class. Personally, I believe I am lower middle class. I choose to spend my money on the more expensive clothes and go golfing at some nice golf clubs every now and then. I am not broke by any means. However, I still don't think I qualify for middle middle class. IMO if I could make what I make AND be a part of a dual income household then most definitely. I am not though. I pay all of my own bills and its not like I can go out every weekend and go nuts (like some of my friends do).

I am not looking for financial advice, I am doing just fine.
You are right, you are doing just fine with your upper middle class lifestyle.
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Old 04-02-2014, 04:36 PM
 
Location: Upper West Side, Manhattan, NYC
15,331 posts, read 23,753,676 times
Reputation: 7419
Quote:
Originally Posted by Ace Rothstein View Post
You are right, you are doing just fine with your upper middle class lifestyle.
No kidding - more expensive clothing, golf, restaurants, etc. That's not lower middle class. Lower middle class people can barely afford to eat out an OK amount and most of them can't afford golf or more expensive clothing period. Perhaps he should spend time with someone who is actually lower middle class and perhaps he would realize that he has it a lot better than most people in this country.
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Old 04-02-2014, 04:48 PM
 
Location: Chicago, IL
1,988 posts, read 2,206,449 times
Reputation: 1536
Quote:
Originally Posted by marothisu View Post
No kidding - more expensive clothing, golf, restaurants, etc. That's not lower middle class. Lower middle class people can barely afford to eat out an OK amount and most of them can't afford golf or more expensive clothing period. Perhaps he should spend time with someone who is actually lower middle class and perhaps he would realize that he has it a lot better than most people in this country.
Seriously, the definition of rich people "problems". Next post he'll be complaining about the cost of his boat slip and cleaning lady.
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Old 04-02-2014, 05:01 PM
 
Location: Chicago
3,864 posts, read 6,770,222 times
Reputation: 5413
Quote:
Originally Posted by Ace Rothstein View Post
Seriously, the definition of rich people "problems". Next post he'll be complaining about the cost of his boat slip and cleaning lady.
When was I ever complaining? I just don't think I qualify to fit into your definition of upper or middle middle class in Chicago. I would say I maybe do if I lived in the suburbs but this thread was about in Chicago. $80K is not a ton of money in Chicago.
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Old 04-02-2014, 05:06 PM
 
14,802 posts, read 17,552,336 times
Reputation: 9244
Quote:
Originally Posted by ChiGuy2.5 View Post
When was I ever complaining? I just don't think I qualify to fit into your definition of upper or middle middle class in Chicago. I would say I maybe do if I lived in the suburbs but this thread was about in Chicago. $80K is not a ton of money in Chicago.
No it's not a ton, but it's definitely middle class.
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Old 04-02-2014, 05:08 PM
 
Location: Upper West Side, Manhattan, NYC
15,331 posts, read 23,753,676 times
Reputation: 7419
Quote:
Originally Posted by ChiGuy2.5 View Post
When was I ever complaining? I just don't think I qualify to fit into your definition of upper or middle middle class in Chicago. I would say I maybe do if I lived in the suburbs but this thread was about in Chicago. $80K is not a ton of money in Chicago.
You don't need to make a "ton of money" to be middle middle class in Chicago. Making a ton of money would mean you're upper class or nearing upper class. I just don't think you actually know what it means to be truly lower middle class.


I will make a real life money bet with you right now that almost nobody, even people who study this for a living, will agree with you that a single person making $81K/year in Chicago who plays golf, goes out to eat, and buys expensive clothing is lower middle class.
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Old 04-02-2014, 05:14 PM
 
Location: Chicago
3,864 posts, read 6,770,222 times
Reputation: 5413
Quote:
Originally Posted by marothisu View Post
You don't need to make a "ton of money" to be middle middle class in Chicago. Making a ton of money would mean you're upper class or nearing upper class. I just don't think you actually know what it means to be truly lower middle class.


I will make a real life money bet with you right now that almost nobody, even people who study this for a living, will agree with you that a single person making $81K/year in Chicago who plays golf, goes out to eat, and buys expensive clothing is lower middle class.
What I buy is all relative. My rent currently is only $575 a month because I have 5 roommates. That is why I am able to afford to do these things. I just recently purchased a condo so those things might change. I always figured living middle middle class would mean you can live in an average home at an average price and do almost everything you want to do within moderation. By that definition I do not consider myself middle middle class. I just bought a $140K studio condo which is pretty low in price compared to most of Chicago. I cannot go out to bars and make it rain. I don't gamble or smoke or have any other really expensive hobbies besides golf. Most everyone I see around me are far less frugal with their daily lives than I am. I still have an SD Cable box. The money I do spend for the luxuries I afford are only the items I listed, otherwise I am a very frugal person. I just feel like the rest of the world is always ahead of me. Who knows, maybe I am upper middle class and I don't know it. In which case, I know a lot of Upper Class people then... Which honestly if that's upper class than I want to someday be a step above that even.
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Old 04-02-2014, 05:22 PM
 
Location: Upper West Side, Manhattan, NYC
15,331 posts, read 23,753,676 times
Reputation: 7419
Quote:
Originally Posted by ChiGuy2.5 View Post
What I buy is all relative. My rent currently is only $575 a month because I have 5 roommates. That is why I am able to afford to do these things. I just recently purchased a condo so those things might change. I always figured living middle middle class would mean you can live in an average home at an average price and do almost everything you want to do within moderation. By that definition I do not consider myself middle middle class. I just bought a $140K studio condo which is pretty low in price compared to most of Chicago. I cannot go out to bars and make it rain. I don't gamble or smoke or have any other really expensive hobbies besides golf. Most everyone I see around me are far less frugal with their daily lives than I am. I still have an SD Cable box. The money I do spend for the luxuries I afford are only the items I listed, otherwise I am a very frugal person. I just feel like the rest of the world is always ahead of me. Who knows, maybe I am upper middle class and I don't know it. In which case, I know a lot of Upper Class people then... Which honestly if that's upper class than I want to someday be a step above that even.
Let's put it this way. When I was making that much money ($81K), I was taking international vacations, renting out a downtown apartment in a high rise (not luxury, but over 2X more than what you pay), and shopping at Sak's, Barney's, Neiman Marcus, etc, buying $40-$60 dinners at least twice a week, spending $250/month between internet, tv, and cell phone....and I still had a lot of money left over every month to save and use for whatever else. The only difference is that I didn't and don't drive, but if you're only spending $575/month for rent, then I would still be paying more than you for housing + rent all things considered.


I just don't understand where you're coming from - and this is coming from someone who has made that money who owns $300 shirts, goes to Europe or Asia at least once a year for fun, and goes out to not exactly cheap restaurants multiple times a month. Never did I feel lower middle class in the least bit.
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Old 04-02-2014, 11:19 PM
 
2,758 posts, read 4,940,115 times
Reputation: 3014
Quote:
Originally Posted by marothisu View Post
Let's put it this way. When I was making that much money ($81K), I was taking international vacations, renting out a downtown apartment in a high rise (not luxury, but over 2X more than what you pay), and shopping at Sak's, Barney's, Neiman Marcus, etc, buying $40-$60 dinners at least twice a week, spending $250/month between internet, tv, and cell phone....and I still had a lot of money left over every month to save and use for whatever else. The only difference is that I didn't and don't drive, but if you're only spending $575/month for rent, then I would still be paying more than you for housing + rent all things considered.


I just don't understand where you're coming from - and this is coming from someone who has made that money who owns $300 shirts, goes to Europe or Asia at least once a year for fun, and goes out to not exactly cheap restaurants multiple times a month. Never did I feel lower middle class in the least bit.
IMO it is a common mentality amoung alot of people in this chicagoland.
IF they aren't a baller, they aren't middle class. I know a lot of people that want to make 100K, and that is teh absolute minimum. Anything less is busterville.

I would say in the city of Chicago, if you want to live in a safe area, middle class for a single person would be probably 60-70K, and for a couple it would be around 80-90K....maybe.
Everyone in chicago wants the BMW, or $50K SUV, or lexus, or Audi, basically a $800-$1000 minimum car payment. For some people, that is enough for rent. But the mentality seems to be consistant with many Chicagoans. They want to live like their parents did, when their parents were 40, while they themself are only 25. It's how they grew up, and living like a buster isn't an option.
And for people that think $160 a month for money at teh bars..... Gotta triple to 4x that in Chicago. There's no way a single or even guy with a steady gf is spending less than $100 a night in Chi-town at the bar. And if the guy is in his 20's, he's doing that at least 2x's a week. I mean, what's the point of living in the city if one isn't going out .
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