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Thread summary:

Middle Class: loan, Cable TV, High Speed Internet, credit card debt, save money.

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Old 07-27-2010, 09:33 AM
 
Location: Sinking in the Great Salt Lake
13,145 posts, read 20,358,230 times
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Quote:
Originally Posted by Dingler View Post
My wife and I are basically middle class. I work in a traditional non management position and she works at a Library. We make about $45K each before taxes. I notice that we are able to do many things that was not possible when we were growing up. We have traveled all over the USA and the World. We own a single family home and have been able to save 20% of our income for retirement. We have all the things people need today, including Cable TV, High Speed Internet, Cell Phones, DVR, IPODS, Two Cars, nice furniture, going out to dinner on a regular basis, etc.

We have no credit card debt and save money. I do not understand people who are always complaining the middle class dream is dead, it is alive and well.
The only thing you don't say you have is kids. I'd be doning pretty well too, if I wasn't raising three of 'em... Which is where the tragedy is, being that raising a family is an integral part of the mythical "middle class dream".
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Old 07-27-2010, 10:37 AM
 
Location: 'Murica
1,302 posts, read 2,564,995 times
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Quote:
Originally Posted by Chango View Post
The only thing you don't say you have is kids. I'd be doning pretty well too, if I wasn't raising three of 'em... Which is where the tragedy is, being that raising a family is an integral part of the mythical "middle class dream".
sure, having 2.3 kids is part of the "dream", but we all know they cost $$$, and lots of people make the decision to have them in spite of that, and then complain that they don't have the means to provide for them. Shouldn't they be teaching kids this in Home Ec?
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Old 07-27-2010, 11:11 AM
 
Location: San Diego California
6,797 posts, read 6,624,776 times
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Quote:
Originally Posted by Dingler View Post
My wife and I are basically middle class. I work in a traditional non management position and she works at a Library. We make about $45K each before taxes. I notice that we are able to do many things that was not possible when we were growing up. We have traveled all over the USA and the World. We own a single family home and have been able to save 20% of our income for retirement. We have all the things people need today, including Cable TV, High Speed Internet, Cell Phones, DVR, IPODS, Two Cars, nice furniture, going out to dinner on a regular basis, etc.

We have no credit card debt and save money. I do not understand people who are always complaining the middle class dream is dead, it is alive and well.
Perhaps your point of view would be different if you were one of the 15 million Americans that cannot find a job or the 11 million Americans who have lost their homes, or the 40 million who must endure the shame of using food stamps to feed their families. You are simply a beneficiary of circumstance.
The measure of wealth is not how many Chinese made gadgets you can acquire, it is when you can cast off the chains of servitude and retire to a life of your own choosing. A well kept slave is still a slave.
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Old 07-27-2010, 11:25 AM
 
Location: Sinking in the Great Salt Lake
13,145 posts, read 20,358,230 times
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Quote:
Originally Posted by Vinsanity View Post
sure, having 2.3 kids is part of the "dream", but we all know they cost $$$, and lots of people make the decision to have them in spite of that, and then complain that they don't have the means to provide for them. Shouldn't they be teaching kids this in Home Ec?
But raising kids isn't all about economics. I consider raising my kids to be successful adults as the most important thing I'll do in my life, and it brings me joy to do it, despite the costs.

But I can't help comparing myself with my parents, who raised 7 of us; I'm hard-pressed to keep a family of 3 going with an income of about 60K (my wife is a homemaker and doesn't work), and comparatively more than mom had when I was a kid. That is really depressing to me.

It doesn't seem like mom and dad had it quite as tough, (they are literal millionaires now) but perhaps they felt the same way when they were my age.
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Old 07-27-2010, 08:39 PM
 
3,806 posts, read 5,501,003 times
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Quote:
Originally Posted by Vinsanity View Post
how do you figure they do?
Being born in the US they're American children even though their parents aren't US citizens. There don't seem to be a whole lot of rich illegal immigrants running around. In fact most seem to be pretty hard up. Thus one would expect a good number of their children are below the poverty line adding to this number. Combine this with the declining American birth rate, and you can run the percentage up pretty fast.
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Old 07-30-2010, 12:05 PM
 
Location: Mid-Atlantic
1,820 posts, read 4,156,684 times
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Quote:
Originally Posted by Randomdude View Post
Your family income is almost 40k more then the median US household income.

Your family income places you in the highest income quintile in the United States.

Your family consists of not one but TWO incomes that are above the median US income.

Generally speaking, your family is NOT "middle class", your family is in the top 20% of all familes.

Why dont you try living on a "real" middle class family income of about 34-55k, in other words, basically cut your family income in half, and live on that for a while. You tell me about how well you are getting by.
I have something to say about that..... We (being my family of 4) live on a low 6 fig income and sometimes it is still difficult. We live in an area where even now, the Real Estate is STILL out of control where most of our family live in Western NY where you can purchase a really nice home for much,much less than we could ever do where we are.
With that said, I am not complaining.... BUT ,we have family who live on about $45K a year, they CLAIM they receive no help from family, however, they have 2 kids,their daughter takes horse back riding (which we all know is not inexpensive), plays an instrument, their son is in Karate (again-not cheap!) , they just bought a rainbow play system (they are over $1K), they have THREE TV's in a house that isn't even 2000 sq feet, they have 2 vehicles (one was just purchased this year as well), 2 computers and much,much more than we have on our income....... they go to the movies on a consistent basis and we can't afford to do that, they go out to dinner more often than anyone that I know AND they take family vacations every,single year...
SO, how are these people getting by,doing all of what they do on that income I ask?
They aren't doing it alone, that is for sure.
I say that in today's economy, whether people want to admit it or not, they are getting help from family.
There is no way around it, whether they are too proud to admit it or not, there is no way it is being done.
I do think that if you have made wise choices, smart choices, there is a way to do it today, but not all of this & more.
We have made pretty smart choices, unfortunately for us, we have a real estate issue (a home that won't sell because of the market and all of the foreclosures) and we have been paying for 2 homes for almost 2 years now, but we scrape by. Again, not complaining because it could be worse, but honestly, on a $45K income to be able to do and have all that they have is not possible.
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Old 08-04-2010, 04:38 PM
 
Location: Sputnik Planitia
6,897 posts, read 9,674,076 times
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Quote:
Originally Posted by Chango View Post
I'm hard-pressed to keep a family of 3 going with an income of about 60K (my wife is a homemaker and doesn't work), and comparatively more than mom had when I was a kid. That is really depressing to me.
You're in Utah I'm guessing? $60k there is rich... it's equivalent to $150-200k in Southern California where a run of the mill 3 bedroom house in a decent neighborhood still costs $600-700,000.
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Old 08-05-2010, 03:49 PM
 
Location: Sinking in the Great Salt Lake
13,145 posts, read 20,358,230 times
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Quote:
Originally Posted by k374 View Post
You're in Utah I'm guessing? $60k there is rich... it's equivalent to $150-200k in Southern California where a run of the mill 3 bedroom house in a decent neighborhood still costs $600-700,000.
Ha! I'm gonna buy me a very fine hat and drink the good stuff tonight after reading that post!

But in reality, not even close. Median household income here is about 55K, so I'm actually right in the middle. Home prices are inflated here too, but not nearly as bad as California. The median home price is about 200K.
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Old 02-18-2013, 09:31 PM
 
Location: Texas
44,257 posts, read 56,740,512 times
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Quote:
Originally Posted by Randomdude View Post
They made it with a quality of life that no kid in America should be subjected to.
Peopleneed to travel the world and get a clue before spewing this brand of entitled malarkey.
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Old 02-19-2013, 04:34 AM
 
85,289 posts, read 82,827,155 times
Reputation: 61069
Quote:
Originally Posted by Mike from back east View Post
The Middle Class is clearly NOT doing pretty well, especially in the 3 years since this thread was started (by a long-banned troll).

Here are some current numbers, the middle class isn't just shrinking, it's being wiped out.

Here are just 5 of the 22 stats in the article:

Here are the statistics to prove it:

• 83% of all U.S. stocks are in the hands of 1% of the people.
• 61% of Americans "always or usually" live paycheck to paycheck, which was up from 49% in 2008 and 43% in 2007.
• 66% of the income growth between 2001 and 2007 went to the top 1% of all Americans.
• 36% of Americans say that they don't contribute anything to retirement savings.
• A staggering 43% of Americans have less than $10,000 saved up for retirement.

There are various meanings to this news, among them seem to be:
- The end of the American Dream (do an advanced search, titles only, on that term and find many threads on this theme.
- Delayed retirement for many, no retirement at all for some.
- Home ownership harder to obtain.
- Reduced standards of living.
- Fewer college educations for young people since parents can't afford them.
- Loss of American leadership in the world.
- Smaller families, an even lower birthrate than we already have.
- More backdoor immigration as the money class who run this country continue to drive down wages and benefits.
wrong wrong and wrong ; much of that 83% of the stock is in the hands of the institutions ,not the 1% of people. that sentance above is bull . it sounds good but it is not true at all.

More than 80 percent of the stock market is owned by small individual investors, either directly, or inside a Mutual fund, or inside whatever holdings they have in their 401k, profit sharing ,ira's, variable annuities and universal life products..

The only stocks NOT ultimately owned by individuals are those held inside endowments.


every mutual fund company, pension fund, all our 401k's and insurance companies are invested with the big guys but that is our money.

the institutions dominate the markets ownership and that is me , you , everyone with a 401k ,and ira or a pension and grandma and grandpa.

more then half the country own equities in some shape or form .

but you can still use your 1% fact if you want, why let facts get in the way of a good story.

as far as the rest of the financial statistics thrown around they are just that, a random sampling of interviews only 150,000 people in the entire country got asked about their finances according to the census bureau.
with an infinite amount of answers possible when it comes to our personal finances the accuracy is terrible.

i am not saying it isn't a struggle for some or even many but to spew statistics that are inaccurate or a lie is not the way to prove a point.

whenever you have statistics you have 1/2 the group doing well and 1/2 doing bad and so you pull the numbers of the good half down to a point where it looks like no one is doing well.

Last edited by mathjak107; 02-19-2013 at 05:02 AM..
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