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It took far too long for someone to mention that class is not merely a derivative of one's income. . . . Every one of those (that I ever encountered, and my undergrad university had a slew of them) who were heading toward what Dayton Sux called the "genteel poor" were backed by a trust fund. Further, for every one of those well bred, multi-lingual classicists, how many of the working class and poor are there?
Consider another example: guy makes $275,000 a year and drives a Cadillac Escalade. But is he upper class? He started with a tow truck doing predatory work, and now owns a fleet doing predatory work. With the profits he then bought several massage parlors out in the county with "all girl staff," some video gambling fronts, and major interest in a junk yard. Never made it past ninth grade. Obese, a bully, smokes heavily, tattoos all over including a scorpion on his face, speech laced with "the F word," often wears shirts with the sleeves torn off, has several pit bulls that he enters in dog fights. But the money just rolls in . . .
I think you are confused... there are different stratifications within the middle class itself... there are low middle class, middle middle class, and high middle class....
With the average household income (which deceptively includes singles and families) at 55k...
I would say poverty is 0k-15k (Can't really afford anything)
I would say lower lower class is 16k-25k (Can afford stuff but just barely)
I would say middle lower class is 26k-35k (Can afford stuff but can't save)
I would say upper lower class is 36k-45k (Can afford stuff and barely save)
I would say low middle class is 46k-60k (Can afford stuff and save significantly but not if they have a family)
I would say middle middle class is 61k-100k (Can afford stuff and save significantly even with a family)
I would say upper middle class is 101k-160k (Can afford stuff and save regardless of economic conditions)
I agree with this. My friend's dad made 120K with bonus and they lived really well. Really nice house, vacations, really do anything they want. I'll never see that kind of money in my lifetime. The only thing I can hope for is to save up for retirement.
I dunno. And then there are people like the fictional characters Stringer Bell and Avon Barksdale from "The Wire."
But I think that my classics professor is clearly an upper class guy with no money, and my tow truck magnate is clearly a lower class guy with lots of money.
Consider another example: guy makes $275,000 a year and drives a Cadillac Escalade. But is he upper class? He started with a tow truck doing predatory work, and now owns a fleet doing predatory work. With the profits he then bought several massage parlors out in the county with "all girl staff," some video gambling fronts, and major interest in a junk yard. Never made it past ninth grade. Obese, a bully, smokes heavily, tattoos all over including a scorpion on his face, speech laced with "the F word," often wears shirts with the sleeves torn off, has several pit bulls that he enters in dog fights. But the money just rolls in . . .
His now passive income sources are the only thing "upper class." His car and taste are not.
...My friend's dad made 120K ... I'll never see that kind of money in my lifetime. The only thing I can hope for is to save up for retirement.
I guess you just created your own self-fulfilling prophecy. Too bad you sold yourself short.
If you had decided you could do better for yourself and set that $120k as your goal, you could do it and you would create steps to reach that goal over time. But you already decided it is unattainable, so you will never "make it happen".
Other folks might decide that it IS attainable, and they WILL make it happen. If you don't believe in yourself and have a vision for attaining your goal, it isn't going to fall into your lap in most cases.
I guess you just created your own self-fulfilling prophecy. Too bad you sold yourself short.
If you had decided you could do better for yourself and set that $120k as your goal, you could do it and you would create steps to reach that goal over time. But you already decided it is unattainable, so you will never "make it happen".
Other folks might decide that it IS attainable, and they WILL make it happen. If you don't believe in yourself and have a vision for attaining your goal, it isn't going to fall into your lap in most cases.
I believe it's called reality. Some people believe in pipe dreams of riches out of rags and are never able to make it happen. There is nothing to make, if there is nothing there.
I believe it's called reality. Some people believe in pipe dreams of riches out of rags and are never able to make it happen. There is nothing to make, if there is nothing there.
Some people make their own reality and make it in life. Ask people that accomplish goals and they will tell you this one little secret, All people can accomplish goals. All people can achieve. Ask the average Middle class millionaire and they will fill you in on this little fact: Anyone can do it.
If you are not making it in life ask yourself what you would give up in order to make your dreams come true.
I would bet that the people that don't get it done are sitting around watching TV shows that have interesting and wealthy people on the show. Funny thing is that seldom do you see those that have made it even in fictional TV land sitting around watching TV shows of those that are already wealthy. You want the silver spoon? Go and get it. Achievers will tell you that where they got their silver spoon plenty others are just waiting for someone to grab onto one and take it.
If you are not wealthy or don't see it in your future but do infact want to achieve it then look at what you are doing now. If anything is keeping you from your goal then stop doing it. Work more, start a business, save more, get out of debt. Use time wisely. All key phrases but useless unless we adopt them in to our life style. Read up on those that have done it. Find out what makes them tick. Set up a guideline on when you will become wealthy. It can happen and more than likely will happen to someone that makes changes in how they do things.
Here is the real deal. Someone can build a business and achieve great wealth. You want to know what happens when they make a bad decision and lose it all? They start over and rebuild. Those that have had it and lost it show that it is easy to make it. Not always easy to keep it. Those that have never had it don't realize how easy it is. Here is my plan for you.
1. Work long hours doing something that produces an income. If you can't figure out how to start a business then get a second job. Work overtime. I know plenty of people in healthcare that work at another hospital or some other care facility.
2. With the income from your second job invest in you. If you can not find a way to make that money make you money then pay off your debt if you have debt. Save for a down payment on a rental home or 4 unit apartment building. Anything that you can use to make money for yourself. Best bet is to start a business of some kind with the money.
3. Grow your business into not only your only income but a higher income than you had with your job. Invest it back into the business.
4. When you have grown your business to where you want it invest in other income producing enterprises or properties.
This is in no way easy and it may take years to get to the goal. Still so what. It will happen over time. That is the beauty of it, over time anyone can go from rags to riches using time and hard work.
Some people make their own reality and make it in life. Ask people that accomplish goals and they will tell you this one little secret, All people can accomplish goals. All people can achieve. Ask the average Middle class millionaire and they will fill you in on this little fact: Anyone can do it.
The problem I have with both you and Kremit is that you're both on awfully absolutist. There are some people who will make excuses and never implement anything or make the hard choices.
And then there are folks like you who say "anyone can do it". Well, some people really can't. Some are emotionally disturbed. Some are mentally retarded, etc. Granted, I think the majority of people could do much, much better financially than they currently are...but saying "most" people and saying "anyone and everyone" are two different things entirely.
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