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Do you think most of the families in Nassau county have a HHI > 250k?
Because thats essentially what you are saying here.
For what it costs to live there (car insurance is well above areas of middle America, just for starters), I'd hope so. Also, I'm taking total worth into account (wealth from houses, cars, stocks, bonds, retirement, etc.) How well off a person or family is, to me, isn't just about what they can buy right now. After all, that can be faked with credit cards. It's about their safety net.
I'm just finding more creative ways to keep my money.
Everyone is trying to stick their hand in my pocket.
It's sickening.
Just for an example, when I bought my most recent home I was absolutely disgusted by the ridiculous waste fees I paid. I'm reading through the docs and just feeling so violated.
No more. I started fighting back.
Classifications aside, claiming rich or poor is not just about income. It's about how much disposable income you are left with. We are majorly affected in Nassau - we just play with higher numbers. It doesn't matter if your annual income is $100k in Nassau or $60k in Queens if you're only left with $1k/mo. after expenses. It's still only $1k a month you're able to save either way so you can't claim you're rich or poor based on salary alone. That's a very naive view someone fresh out of school would have - not considering cost of living.
Very good point. Class and wealth are not the same thing - although there is some overlap.
Middle and upper middle class values tend to be less focused on flashy possessions, personal toys, immediate gratification, and vacations that involve theme parks or resorts like Las Vegas.
Upper middle and middle class people focus on education and long learning, travel, but more out of the country or off the beaten path. They may search for places that have an educational or historic component. They generally are not fans of fast food or chain restaurants.They prefer ethnic restaurants, mom and pop places, and are very open to unusual foods.
I don't think the income disparity is the greatest difference. I think that more has to dowith social values and how money is spent.
For what it costs to live there (car insurance is well above areas of middle America, just for starters), I'd hope so. Also, I'm taking total worth into account (wealth from houses, cars, stocks, bonds, retirement, etc.) How well off a person or family is, to me, isn't just about what they can buy right now. After all, that can be faked with credit cards. It's about their safety net.
Safety nets don't pay the bills. 401k means diddly if you're living paycheck to paycheck. If you think the majority of homeowners on LI are flush with stock dividends, beamers and fat 401ks, you're driving through a small slice of neighborhoods. And 401ks aren't "wealth." They are retirement accounts that are STILL taxable when you take out the money. It's just stashed, deferred, pre-tax income we hope will appreciate. Ask some people how they did in 2007!! Hopefully they caught up and surpassed it since, but many were wiped clean...many right near retirement, as cruel as that seems, that was the reality. Trickle down fail, likely to repeat. That's NOT wealth. Neither are houses which can shoot up or down 5-30% with one bubble burst or criminal tax plan. Smart minds know wealth/worth is what you have liquid and there is way LESS of that on LI than meets the eye.
Last edited by monstermagnet; 01-18-2018 at 08:04 AM..
Very good point. Class and wealth are not the same thing - although there is some overlap.
Middle and upper middle class values tend to be less focused on flashy possessions, personal toys, immediate gratification, and vacations that involve theme parks or resorts like Las Vegas.
Upper middle and middle class people focus on education and long learning, travel, but more out of the country or off the beaten path. They may search for places that have an educational or historic component. They generally are not fans of fast food or chain restaurants.They prefer ethnic restaurants, mom and pop places, and are very open to unusual foods.
I don't think the income disparity is the greatest difference. I think that more has to dowith social values and how money is spent.
I think middle and upper-middle class values tend to differ. What you are defining is something I would attribute more to upper-middle class values.
Safety nets don't pay the bills. 401k means diddly if you're living paycheck to paycheck. If you think the majority of homeowners on LI are flush with stock dividends, beamers and fat 401ks, you're driving through a small slice of neighborhoods. And 401ks aren't "wealth." They are retirement accounts that are STILL taxable when you take out the money. It's just stashed, deferred, pre-tax income we hope will appreciate. Ask some people how they did in 2007!! Hopefully they caught up and surpassed it since, but many were wiped clean...many right near retirement, as cruel as that seems, that was the reality. Trickle down fail, likely to repeat. That's NOT wealth. Neither are houses which can shoot up or down 5-30% with one bubble burst or criminal tax plan. Smart minds know wealth/worth is what you have liquid and there is way LESS of that on LI than meets the eye.
This whole post is proof that Nassau County residents are completely out of touch with the struggles of actual working class people, many of whom don't have 401Ks and home equity values to scoff at.
Nassau County (stomping foot, crossing arms): But I'm NOT rich because I can't buy exactly what I want RIGHT NOW!
Rest of country: ������
And, while you're right that safety nets don't pay the bills, if YOU can't pay the bills, you're living beyond your means.
This whole post is proof that Nassau County residents are completely out of touch with the struggles of actual working class people, many of whom don't have 401Ks and home equity values to scoff at.
Nassau County (stomping foot, crossing arms): But I'm NOT rich because I can't buy exactly what I want RIGHT NOW!
Rest of country: ������
And, while you're right that safety nets don't pay the bills, if YOU can't pay the bills, you're living beyond your means.
What is a "rest of the country?" I've lived all over the country. Every place has a lower, middle and upper class. LI is not different, just proportionally higher in cost (than some, not all). Quality of life is the goal. It doesn't exclude "blue collar workers" (something you use as a premise but can't really define). Some LI plumbers make more than a 3rd year lawyer makes in other parts of the country (hell, more than many on Long island). He's still blue collar. He's also middle to upper middle class. Another plumber might make $35k. He's blue collar too, far from upper middle class. He's barely eeking out a living here. A surgeon in Flint, MI is upper class. His quality of life may not compare to LI. He might be "rich" in his $195k home. Far richer than the same Long Islander despite far less "property wealth." It's all relative. The bizarre conundrum is how ANYONE making less than $50k lives on LI. But they do it. 2 or 3 incomes, house refi'd a few times, taking out equity, inheritance, credit cards. No two stories are alike.
They don't qualify income by the cost of the house OR income. It's the PROPORTION of cost to income. Proportions work the same in "the rest of the country" just like here. More than 30% of income for housing puts you in a pickle. On LI or anywhere else. It makes you NOT RICH even if you have a $500k house and spend at Target like a drunken sailor. You don't have to be on food stamps to be living paycheck to paycheck. LI is a tough place to be middle class these days. It hasn't avoided the great wealth division of the last 40 years, it just hides it well and the wealth disparity is a great frustrator [sic] AND motivator.
Last edited by monstermagnet; 01-18-2018 at 02:05 PM..
What is a "rest of the country?" I've lived all over the country. Every place has a lower, middle and upper class. LI is not different, just proportionally higher in cost (than some, not all). Quality of life is the goal. It doesn't exclude "blue collar workers" (something you use as a premise but can't really define). Some LI plumbers make more than a 3rd year lawyer makes in other parts of the country (hell, more than many on Long island). He's still blue collar. He's also middle to upper middle class. Another plumber might make $35k. He's blue collar too, far from upper middle class. He's barely eeking out a living here. A surgeon in Flint, MI is upper class. His quality of life may not compare to LI. He might be "rich" in his $195k home. Far richer than the same Long Islander despite far less "property wealth." It's all relative. The bizarre conundrum is how ANYONE making less than $50k lives on LI. But they do it. 2 or 3 incomes, house refi'd a few times, taking out equity, inheritance, credit cards. No two stories are alike.
They don't qualify income by the cost of the house OR income. It's the PROPORTION of cost to income. Proportions work the same in "the rest of the country" just like here. More than 30% of income for housing puts you in a pickle. On LI or anywhere else. It makes you NOT RICH even if you have a $500k house and spend at Target like a drunken sailor. You don't have to be on food stamps to be living paycheck to paycheck. LI is a tough place to be middle class these days. It hasn't avoided the great wealth division of the last 40 years, it just hides it well and the wealth disparity is a great frustrator [sic] AND motivator.
Now we circle back to my original point. It's all relative and depends on who you want to compare yourself to. As a Nassau County homeowner, you are at minimum upper middle class when compared to the national average. If you insist on comparing yourself to Aunt Joanie from Plandome who vacations in Europe annually, you're going to feel poor. However artificially.
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