Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Economics
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 04-27-2018, 07:02 PM
 
Location: Sputnik Planitia
7,826 posts, read 11,731,508 times
Reputation: 9045

Advertisements

Per CNBC "comfortable" middle class lifestyle is many of the major metros requires $300,000/yr..

https://www.cnbc.com/2018/04/27/sam-...00-a-year.html

Seems high, I would say $200,000/yr would do it, anything lower than $200,000/yr and it would not be optimal in terms of raising kids, living in a good area with good schools, saving for retirement and taking the family on a vacation or two a year.
Reply With Quote Quick reply to this message

 
Old 04-27-2018, 08:22 PM
 
11,230 posts, read 9,200,928 times
Reputation: 32248
Typical nonsense, assuming that New York and San Francisco are the only "major metros"; then saying half the country lives "on the coasts", which while it may be roughly correct - if you mean "coastal states" not "actually in port cities", also assumes that all of "the coasts" is like NY and SF.

I rather doubt that you have to earn 300k to live a decent life in Portland, ME; Baltimore; Trenton; Norfolk; Raleigh; Columbia SC; Jacksonville FL; Spokane; Sacramento; Bakersfield; or Fresno.

It's sometimes kind of annoying how so many people just assume that the United States consists of NY, Boston, San Francisco, and Seattle.
Reply With Quote Quick reply to this message
 
Old 04-27-2018, 08:56 PM
 
Location: Kansas City, MISSOURI
20,738 posts, read 9,363,788 times
Reputation: 15484
From the article:
Quote:
In order to comfortably raise a family in an expensive coastal city like San Francisco or New York,
Uh yeah, NY and SF. Probably don't even really need that much in those two cities.
Reply With Quote Quick reply to this message
 
Old 04-27-2018, 09:39 PM
 
10,219 posts, read 19,126,604 times
Reputation: 10880
This is that Financial Samurai guy again. $1.5M house? Please... I have a 4BR house in a decent suburb in the NYC area and it's worth less than $500,000. Want a train town or nicer school district it'll go up, but under $1M is still pretty easy. Health insurance comes off the pre-tax line, not post, and premiums should be closer to half that at a decent job. Mortgage interest and $10,000 of property tax should be deductible also, no need for standard deduction.
Reply With Quote Quick reply to this message
 
Old 04-27-2018, 09:46 PM
 
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
34,624 posts, read 57,628,813 times
Reputation: 46064
Quote:
Originally Posted by turf3 View Post
Typical nonsense, ...
I rather doubt that you have to earn 300k to live a decent life in Portland, ME; ...
It's sometimes kind of annoying how so many people just assume that the United States consists of NY, Boston, San Francisco, and Seattle.
YMMV...
Considering I lived a VERY comfortable left coast middle class life (and raised a family) on <$68k MAX annual single wage earner income AND managed to retire pre-age 50... I would say YMMV...I will stick with VISITING SFO and NYC as frequently as I like (at least 1 weekend / month).

I know many coworkers / retirees who very comfortably live in SF Bay area on under $100k earnings / yr (With home paid for), There are options, but can't say BUYING a home would ever come to my mind . I would buy a commercial building in tax free Reno (for 1/2 the cost of a SFO home), and enjoy PLENTY of cash flow to cover my rent. (SFO or elsewhere)\

Author and readership is totally out of touch.
A Sensational lifestyle comes with a price. Be prepared to pay the 'price-of-admission'!

might want to check your rationale.
Reply With Quote Quick reply to this message
 
Old 04-28-2018, 04:43 AM
 
5,901 posts, read 4,395,468 times
Reputation: 13416
300k for a middle class life style on the coast and 150k in the middle of the country? 500 a WEEK on food? A 1.5 million dollar house? Ok.

I guess you have to be in the 90th percentile to be “middle” class.

Last edited by Thatsright19; 04-28-2018 at 04:52 AM..
Reply With Quote Quick reply to this message
 
Old 04-28-2018, 07:07 AM
 
Location: Fields of gold
1,360 posts, read 1,378,860 times
Reputation: 3052
LOL��������������
That cheered me up, I needed a good laugh this morning!
Reply With Quote Quick reply to this message
 
Old 04-28-2018, 07:22 AM
 
Location: Phoenix
29,915 posts, read 18,754,741 times
Reputation: 25875
Quote:
Originally Posted by k374 View Post
Per CNBC "comfortable" middle class lifestyle is many of the major metros requires $300,000/yr..

https://www.cnbc.com/2018/04/27/sam-...00-a-year.html

Seems high, I would say $200,000/yr would do it, anything lower than $200,000/yr and it would not be optimal in terms of raising kids, living in a good area with good schools, saving for retirement and taking the family on a vacation or two a year.
I agree...if you are in a high cost location such as NYC, SF, LA, Seattle, Boston. In most of America, that's probably closer to low 200's.
Reply With Quote Quick reply to this message
 
Old 04-28-2018, 08:36 AM
 
641 posts, read 1,067,166 times
Reputation: 870
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.
Reply With Quote Quick reply to this message
 
Old 04-28-2018, 10:38 AM
 
Location: Silicon Valley
7,619 posts, read 4,529,055 times
Reputation: 12677
Quote:
Originally Posted by turf3 View Post
I rather doubt that you have to earn 300k to live a decent life in Portland, ME; Baltimore; Trenton; Norfolk; Raleigh; Columbia SC; Jacksonville FL; Spokane; Sacramento; Bakersfield; or Fresno.
Personally, I don't think you can live a decent life in Bakersfield for $1M a year....but maybe I'm looking at this wrong.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics
Similar Threads

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top