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It would be helpful if you could define what is meant by middle class. I make an okay buck but I define myself as working class. I worry about staying employed and maintaining my salary.
No it isn't. But it's a much different type of concern when you are trying to build a career vs. just pay the bills. In my industry, if you get laid off and just take another professional job to pay the bills even if it isn't perfectly aligned with your specialty -- good luck ever getting back to your specialty; they don't care/want to hear/understand that you had bills to pay -- to them the fact that your resume is a tiny bit off track means you are completely disqualified for the job you're seeking bc you exhibiting poor judgment - by taking something else to pay the bills.
To someone struggling to pay for the basics, that looks like rich people problems.
I work in IT and there is very little IT work here. In order to get this job, I've had to move across the country, twice (TN > IA, moved back, TN > IN). I've lived in six states since 2010, and I just turned 30 last year. I belong to the "relo" class, even though I am far from six figures.
I live and work in a relatively small (50,000 people), isolated town in northeast TN. If I were to lose my current job, I have no confidence I could make anywhere near my current salary within two hours one from here. I'd have to pack up and move again.
That's my biggest pet peeve with trying to get in the middle class in IT - you can't put down roots, are always in fear of being laid off, and if you live in a small town, having to simply leave the area altogether. I have friends who are teachers, nurses, etc., and most of those types of jobs have openings anywhere.
I have a lot of job security, but the thing I don't like is the stress and the pressure to achieve more and more. I'm OK with my current position and salary, and I don't wanted added stress or responsibility. But, the pressure is there that I should be striving for the next promotion. Very stressful. I'm on anxiety medications just so I can sleep. Stress is the worst!
This may be specific to my field, but along with the stress of advancing in the job, having to take many exams for certification. I only have one left so that might go away soon, although that might bring more pressure in the actual work.
Being held to impossibly high standards (basically perfection).
Making enough money to pay ridiculous amounts of taxes but not enough money to be able to live off of capital gains and pay much fewer taxes like really rich people.
^^ This right here, the bolded especially. Virtually 100% of our household income is from W-2 earned wages based on hard work. There's no big income from investment dividends, no secret offshore accounts, no attempts to screw over the IRS etc. And all that while constantly being told we're not paying "our fair share".
Last edited by Texas Ag 93; 04-03-2017 at 08:57 AM..
^^ This right here, the bolded especially. Virtually 100% of our household income is from W-2 earned wages based on hard work. There's no big income from investment dividends, no secret offshore accounts, no attempts to screw over the IRS etc. And all that while constantly being told we're not paying "our fair share".
I don't feel this is a problem for my household. We are deferring a lot of our potential tax liability in the form of maxing out two 401ks annually but from a federal income tax perspective our effective rate is really low considering our income or at least in my opinion
As for the thread I don't usually work outside of normal business hours or on weekends but there are times where so much is going on that I will have trouble sleeping throughout the night. That's the biggest downside over putting up with hundreds of people's bs daily
I don't feel this is a problem for my household. We are deferring a lot of our potential tax liability in the form of maxing out two 401ks annually but from a federal income tax perspective our effective rate is really low considering our income or at least in my opinion
Smart, and you will reap those benefits in the future.
I don't feel this is a problem for my household. We are deferring a lot of our potential tax liability in the form of maxing out two 401ks annually but from a federal income tax perspective our effective rate is really low considering our income or at least in my opinion
As for the thread I don't usually work outside of normal business hours or on weekends but there are times where so much is going on that I will have trouble sleeping throughout the night. That's the biggest downside over putting up with hundreds of people's bs daily
But maxing out 401k's is what many people do (at least to hear tell of it on c-d!) even when strictly middle class or even "working class". If you're upper middle I'd expect room for more creativity in terms of other investments, rental property, etc. To be "upper middle" you have to have at least $100k/household income and I'd say closer to $150k/household - so with two incomes and $18k per 401k, that's about 25% saving rate.
To someone struggling to pay for the basics, that looks like rich people problems.
Well there's a reason this question is aimed at certain people.
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