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Old 04-29-2018, 08:27 PM
 
Location: Mount Pleasant, SC
1,792 posts, read 2,300,584 times
Reputation: 1270

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and only $200 a month for charity ... pitiful.
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Old 04-29-2018, 08:35 PM
 
6,787 posts, read 2,636,042 times
Reputation: 18389
The OP's article is completely nuts, if you are trying to compare it to the entire US population.

I think we've kind of lost our ability to think clearly, if 300K is what we think is needed to sustain a very nice lifestyle in the US.

OK, MAYBE, in the very most expensive markets, that might be 3% of the population.

The rest of us can do quite well on MUCH less, thank you very much.
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Old 04-29-2018, 09:21 PM
 
3,002 posts, read 1,969,664 times
Reputation: 3350
In Huntington beach, CA where I grew up tract homes are 700-1.3 million get 1200-2500 SQ wife and husband both work make 100-130k each so combined at the bottom end of the income scale 240-275k to afford to live in those areas. 300k middle class isn't far off the mark at least for those areas of the country.

I moved to Phoenix 25 years ago so I could afford a home I would say middle class here is around 80-150k a year income, but even that is getting more difficult. Home prices are rising faster then income right now your choices where to live is getting less still affordable.

My friend in Southern California said he has co-workers who drive in everyday from 50 miles inland because they can't afford any homes in Orange County. I think the article is kind of written by someone who lives in a bubble of east coast or west coast.
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Old 04-29-2018, 11:42 PM
 
1,887 posts, read 329,943 times
Reputation: 1049
Living here in PHX, if I was making $30-$40K/year, I would consider that lower middle class.
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Old 04-30-2018, 06:34 AM
 
12,404 posts, read 9,215,201 times
Reputation: 8868
Financial Samurai does have some interesting insight....but at other times it seems he just wants to humble-brag (or maybe just plain brag?) about his high income. To me, it seems most of the pages on his site have a notable element of boastfulness to them, especially when you're a new graduate who has applied to almost 30 jobs and had 3 interviews withdrawn before even sitting across the table from a real human being.

Just about every single one of his expense numbers could easily be cut in half without moving to the ghetto or even buying things second hand. The only exception might be the health insurance...
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Old 04-30-2018, 06:39 AM
 
2,962 posts, read 2,875,781 times
Reputation: 2839
What is considered comfortable is subjective. As someone that lived in the NYC metro, 300k might not be far off - if you are assuming you want to live in the city and raise a few kids. If you are in a suburb of a city like that, 200k would be "comfortable." However, again, that is subjective. I drive two 100% paid-for cars that are 8 and 10 years old. I'm comfortable with that. If was perpetually leasing because I'm "comfortable" with that, then maybe I'd need to earn more. I have a decent house, but maybe if being "comfortable" required that I have 1.5 acres, a four-car garage and a 5000 sq ft home with 7 BR... well, I don't know what to say :P
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Old 04-30-2018, 06:52 AM
 
Location: OH->FL->NJ
7,795 posts, read 7,270,775 times
Reputation: 3101
I know the problem being "jersey poor" myself. It is a struggle at 75K but life goes on. There are millions upon millions like me.
The so called ALICE number (what the article refers to) for my area is "only" 118K The around me median is like 90K. A nice-ish 50 year old 3 BR 1.5 bath rents around here for 1900 to 2500 a month. Needless to say we get to rent a not so nice ish 3 sort of bedrooms (One is really a mud room) one bath half a converted house. The town is decent and safe so that matters.
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Old 04-30-2018, 08:00 AM
 
Location: Knoxville, TN
976 posts, read 427,259 times
Reputation: 2049
Quote:
Originally Posted by teakboat View Post
Normal liberal gibberish. That means no country in the world has a middle class. Anywhere. Similar to the arbitrary "poverty level" calculation we hear about all the time.
What does this have to do with being "liberal?"
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Old 04-30-2018, 08:10 AM
 
Location: Knoxville, TN
976 posts, read 427,259 times
Reputation: 2049
The definition and expectations of middle class have changed...at least in some areas of the country. I recently sold a house in Georgia and, in looking for comp prices, I realized that there were very few houses in the area that are as small as those in my neighborhood. At 1800 square feet, I knew my house was not big, but I never thought of it as particularly small. I grew up in New Jersey in a much smaller home (and we had 4 kids!). So did almost everyone I knew. But, when my Georgia house was on the market, much of the feedback was "too small!" Still sold within 3 days, though, to a smart young couple who were buying well below the amount pre-approved for them by the bank.
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Old 04-30-2018, 10:18 AM
 
Location: DFW
6,717 posts, read 11,182,298 times
Reputation: 4980
Maybe in SF, NYC, Singapore, Dubai, or Switzerland.

$300,000/yr is rich even in many expensive cities like Los Angeles, Paris, Tokyo, Hong Kong, etc.
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