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Old 09-01-2015, 10:59 AM
bg7
 
7,698 posts, read 8,099,610 times
Reputation: 15073

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Quote:
Originally Posted by sanspeur View Post
If $300,000 per year doesn't make a person rich, then they are just plain stupid.

I'll be kind, and just note you are hugely ignorant.

 
Old 09-01-2015, 11:08 AM
 
Location: Charlotte NC
11,710 posts, read 9,319,338 times
Reputation: 5222
Quote:
Originally Posted by GoCardinals View Post
A penthouse apartment just went on rent in NYC for $100,000.00 a month. A two year lease was signed by the new tenant.

How can $300,000 a year make you rich? You can't even pay your rent.

making $30,000,000 a year? Yeah, perhaps that will be considered rich.
damn, that is a horrible example. So now 30 mill might be considered rich?

I can't believe you guys are dumbing yourself down to win this debate.
 
Old 09-01-2015, 11:09 AM
 
Location: Massachusetts
7,553 posts, read 11,377,708 times
Reputation: 6015
Quote:
Originally Posted by Feltdesigner View Post
that is rich...lol

LOL at "upper middle class"

is that the same as "lower wealthy class"
You don't know what things cost in the Boston area, believe me.
 
Old 09-01-2015, 11:10 AM
 
4,487 posts, read 4,346,148 times
Reputation: 4000
In my area $300K is close to double the median household income. Does that qualify for being labeled rich? Not in this area. Well off sure, but not rich.

The median home cost here is $488K Add about $150K to that for the median single-family home price.

$300K would qualify as rich in most counties in VA just not in Northern Virginia.
 
Old 09-01-2015, 11:14 AM
 
Location: Florida
21,603 posts, read 11,035,695 times
Reputation: 7849
Having 300k a year is a nice paycheck.. I know a woman who won 4 million on a lottery and it was gone within 10 years.. she had gambled it, bought expensive cars and frittered it away..she lived in the same town.. she got poor again.. and looked it..

While she had a few dollars to spend she looked wealthy for a while . She was poor to begin with and ended up that way. I saw her when she had a dollar but she acted aloof.. I never approached her when I saw her thinking she might think I want some of her money..I had my own.

She lost it all and became friendly again and came over to say hi and talk.. was strange she only talked when she was broke . Maybe many people asked her for money , there are all kinds of people out there.
 
Old 09-01-2015, 11:17 AM
 
Location: Baldwin County, AL
2,446 posts, read 1,037,493 times
Reputation: 601
Quote:
Originally Posted by Quick Enough View Post
" In reality, you don't even know what middle class looks like with that kind of money."

Sorry, in REALITY you just made a BIG fool of yourself for AsSUMING you know anything about me, wich you DON'T.

As usual these thread go beyond was the OP posted about.

It is NOT about "if you fel rich" yada yada yada!

To the OP's question, "Does an income of $300,000 make someone rich?", As I have stated before,
it depends on where you live, PERIOD.

Reading comprehension is you friend. I didn't say "you", as in you specifically. I am saying "you" as in all of the people who make 300k. So it is not I that has made a fool of himself. At 300k, you do not know what middle class looks like. If that is you, then yes, I am talking about you. I don't care if you live in Boston, or NYC, or SF. You are not middle class at 300k a year. You are in the top 2-3% of the country in yearly earnings. How is that middle?
 
Old 09-01-2015, 11:24 AM
 
Location: 15 months till retirement and I can leave the hell hole of New Yakistan
25,005 posts, read 13,905,843 times
Reputation: 6404
Quote:
Originally Posted by Feltdesigner View Post
damn, that is a horrible example. So now 30 mill might be considered rich?

I can't believe you guys are dumbing yourself down to win this debate.
the simple fact is that in 1957 '''rich''' (top bracket) was considered a household income of 400k.....in todays dollars that would be 3.3 million


why would you DEFLATE the value below that???

back when clinton was in office middleclass was defined as 50k-250k...1993 clinton defined rich as 250k when he created a new tax bracket at $250,000 and raised the rate to 39.6 percent....250k in 1993 would be 412k in todays dollars

why would you DEFLATE the value below that???

300k in 2015 is NOT RICH, it is middleclass...uppermiddleclass but still middleclass


why would you lump 300k into a defination of millionaires and billionaires (the rich)???
 
Old 09-01-2015, 11:24 AM
 
29,154 posts, read 26,100,867 times
Reputation: 10167
$300K a year is only $6,000 a week. If you have a mortgage to pay, taxes, insurance, tuition for the kids and a little bit tucked away for savings there's not a whole lot left.
 
Old 09-01-2015, 11:25 AM
 
Location: Massachusetts
7,553 posts, read 11,377,708 times
Reputation: 6015
Quote:
Originally Posted by southernbored View Post
You are not middle class at 300k a year. You are in the top 2-3% of the country in yearly earnings. How is that middle?

Because you are comparing that salary to the whole country. If you compare it to other salaries in those areas, it's not "rich".
 
Old 09-01-2015, 11:46 AM
 
Location: Baldwin County, AL
2,446 posts, read 1,037,493 times
Reputation: 601
Quote:
Originally Posted by CaseyB View Post
Because you are comparing that salary to the whole country. If you compare it to other salaries in those areas, it's not "rich".

Read my other posts. I clearly said, certain areas may be the exception. Even in those certain areas, you are much more well off than 95%+ of the people around you. That still puts you out of middle class, even in those areas. In my opinion of course. When the average or median income is around $50-60k in your area, 300k is still great a bit more than what most people make in your area. So to say it isn't much because it cost more to live there still does not ring true.

In Boston, correct me if I am wrong, but the median income is less than 60K. According to the Boston Globe, the wealthy people of Boston make an average of 224k. So the Boston Globe even acknowledges that 300k is wealthy in Boston. How do all those people survive when people struggle at 300k?

In NYC it is also less than 60k. How do all those people survive if 300k is not enough?

Point is, even in expensive areas, you are much more well off, and some might even say rich.
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