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Old 02-21-2013, 01:14 PM
 
927 posts, read 2,096,333 times
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I was having a discussion with my roommate last night on what the middle class looks like. I tend to think of myself as middle class, but I wanted to get everyone opinions on it...

I make $65k/year
I'm 29, male
I have no debt
I rent a high-end apartment in Los Angeles
I save about $1500 - $2000 a month (retirement and mutual funds)
I drive a paid for 2009 Toyota with 46000 miles on it.
I am single, no dependents, no kids
I have a networth of about $150k
I work a full-time job, Monday - Friday
I don't feel strapped for cash, but I'm relativity conservative with my money

What am I? Lower class? Middle Class? Upper Middle Class? If I continue saving like I have been... I will be on my way to Upper Middle Class in the next 10 years, correct?
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Old 02-21-2013, 01:16 PM
 
Location: Sunnyside
2,009 posts, read 3,767,379 times
Reputation: 1263
in LA you are middle class. You could be "upper middle class" in other parts of the country, but in LA, middle for sure.
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Old 02-22-2013, 05:11 AM
 
Location: Central Massachusetts
4,677 posts, read 4,484,659 times
Reputation: 5943
Quote:
Originally Posted by yoyoma02 View Post
I was having a discussion with my roommate last night on what the middle class looks like. I tend to think of myself as middle class, but I wanted to get everyone opinions on it...

I make $65k/year
I'm 29, male
I have no debt
I rent a high-end apartment in Los Angeles
I save about $1500 - $2000 a month (retirement and mutual funds)
I drive a paid for 2009 Toyota with 46000 miles on it.
I am single, no dependents, no kids
I have a networth of about $150k
I work a full-time job, Monday - Friday
I don't feel strapped for cash, but I'm relativity conservative with my money

What am I? Lower class? Middle Class? Upper Middle Class? If I continue saving like I have been... I will be on my way to Upper Middle Class in the next 10 years, correct?

Now that you know that you are middle class, hold on to your wallet.
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Old 02-22-2013, 06:02 AM
 
Location: East of Seattle since 1992, originally from SF Bay Area
28,386 posts, read 50,562,503 times
Reputation: 28616
I agree, you would be the same here in the greater Seattle area, but in some cities are
at less than half the median income and would be lower middle class. It depends on the cost of living where you are. Your increased savings is not going to move you up to upper middle class, which is ''defined" as salaried white-collar professionals with income over $100,000.
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Old 02-22-2013, 08:05 AM
 
2,885 posts, read 3,396,437 times
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It's more complicated than that. Class depends on more than income. You didn't mention your occupation or level of education.

For example, a high school dropout who works for tips in a "massage parlor" (ahem) will never be middle or upper-middle class in my estimation, no matter how much he/she earns or has.

On the other hand, a handsome Ivy-League-educated professor of classics at a prestigious liberal arts college, who has a strong family pedigree (e.g., his Uncle Jennings was US Ambassador to France) and knows seven languages and literatures, is likely upper class in my estimation, again independent of income or net worth.
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Old 02-22-2013, 08:57 AM
 
Location: Indianapolis
505 posts, read 756,847 times
Reputation: 717
Why care what box you fit in? Your circumstances are pretty favorable regardless of what "Class" you are in. Keep up what you are doing, especially if you are otherwise satisfied with your life.
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Old 02-22-2013, 09:12 AM
 
1,862 posts, read 2,875,093 times
Reputation: 2107
You are smack dab middle class, but I predict a bright future for you. To have a net worth of 150k at just 29yo is no mean feat.
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Old 02-22-2013, 09:22 AM
 
Location: USA
16,564 posts, read 16,220,686 times
Reputation: 12523
Quote:
Originally Posted by yoyoma02 View Post
I was having a discussion with my roommate last night on what the middle class looks like. I tend to think of myself as middle class, but I wanted to get everyone opinions on it...

I make $65k/year
I'm 29, male
I have no debt
I rent a high-end apartment in Los Angeles
I save about $1500 - $2000 a month (retirement and mutual funds)
I drive a paid for 2009 Toyota with 46000 miles on it.
I am single, no dependents, no kids
I have a networth of about $150k
I work a full-time job, Monday - Friday
I don't feel strapped for cash, but I'm relativity conservative with my money

What am I? Lower class? Middle Class? Upper Middle Class? If I continue saving like I have been... I will be on my way to Upper Middle Class in the next 10 years, correct?
I'd say you are middle class, keep up the good work!
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Old 02-22-2013, 09:34 AM
 
Location: Ontario, NY
2,590 posts, read 5,881,132 times
Reputation: 2491
Quote:
Originally Posted by Hamish Forbes View Post
For example, a high school dropout who works for tips in a "massage parlor" (ahem) will never be middle or upper-middle class in my estimation, no matter how much he/she earns or has.
So upper middle class is more than a money thing? You have to graduate from the rights schools? Go to the right colleges? Belong the the Right Golf Clubs?

I would disagree with this. While working in a massage parlor or stripe club for tips is not exactly seen as desirable professions, they do pay well. The great thing about this country is the ability for anyone, no matter poor to become wealthy though hard work and/or luck. Also people that are wealthy can become poor if they make lousy financial decisions. Just because you were born rich or poor doesn't mean you are stuck in that social class.
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Old 02-22-2013, 10:20 AM
 
2,885 posts, read 3,396,437 times
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TechGromit -- what a string of non sequiturs! To begin with, I didn't say anything at all about golf clubs, or about the right schools. I merely gave one example of someone who has a presumably low income, and yet who could be accepted as upper class in spite of it, by virtue of having a lot of cultural capital. As a matter of simple logic, surely you understand that someone who fails to meet the criteria of my one example is not by implication necessarily lower class.

Moreover, you are simply wrong if you think that income alone determines social class. Social class is determined by both financial means and cultural capital. Yes, the well-endowed high school dropout can make plenty of money as a stripper. He/she can drive a fur-covered BMW and wear glass slippers. But he/she will never be accepted as upper-middle class, no matter how much they make, or what possessions they buy. More likely, they will considered to be "trash." On the other hand, a "Rockefeller" who loses all of his money will never be considered lower class, no matter how poor financially, because he will have so much cultural capital -- education, travel, languages, cultural knowledge, friends in high places, and so forth.

Last edited by Hamish Forbes; 02-22-2013 at 10:29 AM..
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