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This will probably ruffle some feathers and make me sound older than I am.
A woman can throw more out the back door than a man can bring in the front. I think lots of people are having to reevaluate the way they run their homes and realize they are a business in themselves. |
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Quoted: $100,000 isn't what it used to be. Especially in some parts of the country. I just used this inflation calculator. 2020 $100,000 2024 $121,350.72 View Quote Now, "slightly less than comfortable". Or more specifically, 21% less than comfortable. |
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Quoted: Love to see a breakdown of expenses 1. Large home 2. New his & her SUVs 3. Restaurant/door/dash/food 4. Vacations Etc… View Quote we live VERY frugally. no car loans, very little to no credit card debt. We have a decent house but mortgage is only 1500'ish a month. we're struggling. And by struggling, I mean we're doing fine, but we're not saving at the rates we could before, we aren't spending money on vacations or anything like that. We have kids in college, 2 of them. So just normal living expenses are hurting us. I don't like not putting money away as well as I used to. I'm fine now but it'll hurt me later. Fuck the liberals, their bullshit inflation |
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I broke through $100k after getting laid off in 2021 and have had a couple raises since then... but inflation has pretty much negated the increases for the most part. Good thing was it was near 20% more than I was making before, so that helped.
I was in a good situation with a house I bought in 2015 and a lower mortgage rate and payment... well, here I sit in my brand spanking new house, waiting for my fiancée to get here from Brazil. She's on the plane right now. Good think I made near $200k profit on the previous house and didn't have to put it all down on the new one. It's deffo helped the financial situation. I think we'll be fine in the long run as long as it doesn't keep getting shitty at the rate it did under Bidet. Dear God, it will be nice if Trump wins the election. So I can see if people were already leveraged out the wazoo before all the inflation, they're doublefucked now. It definitely pays to live within your means. |
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Quoted: I wouldn't consider myself wealthy, but we are well above median income. That being said, Since I've been driving, I have been constantly upgrading my car every 2-3 years. When I got to the point where I bought a very expensive car, I kept it longer. Well my last two cars have been escalades. Now I'm at the point where I can't replace my escalade, b/c it's just too expensive. View Quote Is it paid off? If so, you're saving the payment (that you currently don't have to send to the bank), so you can pay a higher downpayment for the next Escalade, aren't you? eta: Or, maybe you should accept you only have Tahoe money. |
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Quoted: Is it paid off? If so, you're saving the payment (that you currently don't have to send to the bank), so you can pay a higher downpayment for the next Escalade, aren't you? eta: Or, maybe you should accept you only have Tahoe money. View Quote Haha..... yes, all my cars and my house is paid off. We have zero debt, and I can buy a new escalade if I wanted to. But they are just so expensive now, I can't justify it. The 2010's you could get for high 60's, then 2017 was in the 80's, the new one, everyone on the lot for the past 3 years were over 100k. For some reason I just can't bring myself to part with 100k or more for a car. And Nicely equipped Tahoe's are in the 80's now!!! So maybe you're right, I only have Tahoe money. But even without any debt, I can still see how much less my money goes and have made adjustments in our lifestyle. |
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100k is above median and doing well in most places but it certainly isn't wealthy.
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I prefer to just have horses, and a internet connection so I can look at all the nice places I could be visiting.
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You think you're rich. You've no idea what rich means. Rich is a fleet of private planes filled with decoys to mask your scent. It's a bunker in Wyoming and another in Gstaad. So that's action item one, the accumulation of wealth. And I mean wealth, not money.
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Quoted: Haha..... yes, all my cars and my house is paid off. We have zero debt, and I can buy a new escalade if I wanted to. But they are just so expensive now, I can't justify it. The 2010's you could get for high 60's, then 2017 was in the 80's, the new one, everyone on the lot for the past 3 years were over 100k. For some reason I just can't bring myself to part with 100k or more for a car. And Nicely equipped Tahoe's are in the 80's now!!! So maybe you're right, I only have Tahoe money. But even without any debt, I can still see how much less my money goes and have made adjustments in our lifestyle. View Quote View All Quotes View All Quotes Quoted: Quoted: Is it paid off? If so, you're saving the payment (that you currently don't have to send to the bank), so you can pay a higher downpayment for the next Escalade, aren't you? eta: Or, maybe you should accept you only have Tahoe money. Haha..... yes, all my cars and my house is paid off. We have zero debt, and I can buy a new escalade if I wanted to. But they are just so expensive now, I can't justify it. The 2010's you could get for high 60's, then 2017 was in the 80's, the new one, everyone on the lot for the past 3 years were over 100k. For some reason I just can't bring myself to part with 100k or more for a car. And Nicely equipped Tahoe's are in the 80's now!!! So maybe you're right, I only have Tahoe money. But even without any debt, I can still see how much less my money goes and have made adjustments in our lifestyle. I get it. I'm about due for a new truck, and prices being almost double what I paid for this one, plus the interest rates...Ugh. But, I figure I'll pay about half down, plus trade-in, and cash flow the balance. I figure it could potentially be my last vehicle, so what the hell. Wasn't sure if you were one of those people that couldn't figure out a solution if that's really the course you wanted to take. |
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Quoted: You think you're rich. You've no idea what rich means. Rich is a fleet of private planes filled with decoys to mask your scent. It's a bunker in Wyoming and another in Gstaad. So that's action item one, the accumulation of wealth. And I mean wealth, not money. View Quote I know exactly what being rich is. Being rich is having your health and living a happy life. Money can help with the second, not so much with the first. I don't have much money. All the members of my family are healthy though. I love my wife, family, and job. I still have a great life in America. I am rich, even though I don't have a whole lot of money. I simply choose not to need lots of money to be happy. |
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I just had an exchange with a local liberal who tried to tell me that it's only Republicans who are claiming to be in economic distress or are having financial difficulties, which he attributed to Republicans being in low paying dead end jobs
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In a large U.S. city, a middle-class income averages between $52,000 and $155,000. The median household income across all 345 cities is $77,345, making middle-class income limits fall between $51,558 and $154,590.
On a state level, it takes the most money to be middle class in New Jersey. A household making between $64,224 and $192,692 would be considered middle class on a state level. Maryland ($63,321 to $189,982) and Massachusetts ($62,986 to $188,976) follow closely behind. You can be making over $300,000 and still be middle class in six U.S. cities. Households have the highest middle class income limits in Sunnyvale, CA, at $339,562. Fremont, CA ($324,672); San Mateo, CA ($318,550); Santa Clara, CA ($317,228); Bellevue, WA ($307,558); and Highlands Ranch, CO ($304,076) also have the top-earning middle class thresholds. New York City’s middle class doesn’t earn much compared to the cost of living. Despite Manhattan, Brooklyn and Queens having a significantly higher cost of living than most U.S. cities, the limits on the middle class are relatively low, ranging from $49,791 to $149,388. It takes less than $25,000 to be considered middle class in Detroit. The Motor City has the lowest median income of large U.S. cities at $36,453. Based on Pew Research’s definition, a household in Detroit making $24,299 would still be considered middle class at the lower threshold. The upper limit would be $72,906. |
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Quoted: About one in three Americans making six-figure salaries are worried about paying their bills, according to a new survey from the Federal Reserve Bank of Philadelphia. The survey finds a notable increase over the past year of consumers making $100,000 a year or more who are concerned about making ends meet over the next 12 months. A significant share of wealthier Americans are coping with financial pressure by cutting spending, including dialing back restaurant visits and entertainment. The findings underscore how years of high inflation and elevated borrowing costs continue to squeeze consumers’ budgets — even for those at the higher end of the income spectrum. Nearly a third (30.8%) of consumers making between $100,000 and $149,999 a year are concerned about making ends meet in the next six months, according to the Philly Fed survey, which was fielded from March 22 to April 6. View Quote https://www.cnn.com/2024/06/26/economy/wealthy-economy-inflation/index.html View Quote Bullshit. Quit posting this nonsense from CN fucking N |
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Quoted: Quoted: We don’t worry about paying bills, but there is a noticeable difference in expendable income. We find we are deferring stuff for longer. Repair rather than replacing. We eat out much less than we used too. Same here, despite fifteen+ percent increase in base pay over the last couple years. I’m working hard to get the mortgage paid off by the end of next year. Once upon a time I would have considered that extra money to represent a step change in life but now it is just some extra margin and I have few plans for that money other than savings, now. |
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A- If you think Biden, Liberals or any politician has anything to do with this, you probably watch too much TV. This shit was planned decades in advance. "They" play the long game.
B- $100k is not wealthy, even if husband and wife are making $100k/ each, still not wealthy. Not even rich at a combined $200k. $100k is now just a good ol' plain income. I'm putting the mark nowadays at about $150k minimum for household income. The average couple with an average house*, 2 average cars, 1-2 kids that don't have multiple sports or events to pay for, no debt, maybe one average vacation per year. |
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Quoted: I know exactly what being rich is. Being rich is having your health and living a happy life. Money can help with the second, not so much with the first. I don't have much money. All the members of my family are healthy though. I love my wife, family, and job. I still have a great life in America. I am rich, even though I don't have a whole lot of money. I simply choose not to need lots of money to be happy. View Quote It's a Varga quote from Fargo. It's more bad ass hearing it than reading it I think. I'd consider myself rich if I had a small piece of high bank waterfront on the Olympic Peninsula coupled with a 5th wheel/cabin to enjoy the beautiful WA summers . . . . add a nice little condo on the beach in Thailand to ride out the winters and I'm loving life Both very do-able |
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Or you can make 6 figures buy a 185k home 7 yrs ago, financed at 2.65% on a 15 yr note. Have zero CC bills and 2 newer cars financed.
If you spend more than you earn, you're broke. |
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I know someone who made roughly $100k per year plus benefits (which back then and in my area was a lot of money), he acted like he was a "baller." So, he and his wife built this huge fucking house. Then he gets in trouble and loses his job, house goes up on the market and they move into an apartment.
About 5-6yrs later they get somewhat back on their feet, mainly due to the wife getting a promotion, and I think someone died. BOOM, buy a new big house (with the current new big interest rates), then they proceed to buy a condo in some 3rd world country because they enjoyed a vacation there lol. People don't learn. I remember a few decades ago when the government came down on what doctors could charge. It hammered a lot of the specialists. One neuro guy went from making over a mil a year to something like $700k, which is a lot, but he could afford the hit... Started having to sell off the beach house, the vacation house, the boat. I mean fuck it, people are always going to need brain surgery right? Things went sideways. I mean, the guy didn't go live in a trailer, but he was cornered. |
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Quoted: Or you can make 6 figures buy a 185k home 7 yrs ago, financed at 2.65% on a 15 yr note. Have zero CC bills and 2 newer cars financed. If you spend more than you earn, you're broke. View Quote Me omw to go back in time to berate my 17 year old self for not buying a house during my junior year in high school. |
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Quoted: Or you can make 6 figures buy a 185k home 7 yrs ago, financed at 2.65% on a 15 yr note. Have zero CC bills and 2 newer cars financed. If you spend more than you earn, you're broke. View Quote Hell why stop there, make half that and buy a bunch of Nvidia stock in October of 2022. It's like people don't even want to be wealthy |
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Stupid should hurt. I'm 16 years retired and still reinvest more than half my annual income.
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Quoted: 4 years ago, I would have rated my financial situation as "comfortable". Now, "slightly less than comfortable". Or more specifically, 21% less than comfortable. View Quote View All Quotes View All Quotes Quoted: Quoted: $100,000 isn't what it used to be. Especially in some parts of the country. I just used this inflation calculator. 2020 $100,000 2024 $121,350.72 Now, "slightly less than comfortable". Or more specifically, 21% less than comfortable. I am in the same boat. I'm definitely not broke by any stretch but things are certainly tighter than they used to be. |
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Quoted: 100k really ain’t “wealthy” anymore. Pretty sure it’s considered lower middle class and is trending towards the lower class. The federal reserve system and fiat currency will do that to you. View Quote From a Yahoo finance article, but based on us census data. According to the Census Bureau’s Income in the United States: 2022 report, the median household income is $74,580 (a 2.3% decline from 2021), while household income levels for each class level are as follows: Lower class: less than or equal to $30,000 Lower-middle class: $30,001 – $58,020 Middle class: $58,021 – $94,000 Upper-middle class: $94,001 – $153,000 Upper class: greater than $153,000 And here's net worth. Based on U.S. census data from 2021, here’s the median net worth of each class: Lower class: $12,000 Lower-middle class: $61,260 Middle class: $145,200 Upper-middle class: $269,100 Upper class: $805,400 Here is some data from pew which is similar but a.couple years fresher than above. According to the Pew Research Center report, the median 2022 household income for a three-person household is as follows for each income tier: Upper-class household: $256,920, a 78% increase from 1970 Middle-class household: $106,092, a 60% increase from 1970 Lower-class household: $35,318, a 55% increase from 1970 |
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Quoted: Came to post this. In 2010, one could be a home owner with 50k. Today they would need over 100k to buy the same home. 100k is barely making it now. View Quote View All Quotes View All Quotes Quoted: Quoted: $100k is barely working class Came to post this. In 2010, one could be a home owner with 50k. Today they would need over 100k to buy the same home. 100k is barely making it now. Oh, the same 2010 2 years after the housing bubble burst? Yeah, I guess if you'd found a job yet, and could get a loan (fixt) after declaring bankruptcy in 2008. Quite the cherry picking. |
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Quoted: From a Yahoo finance article, but based on us census data. According to the Census Bureau’s Income in the United States: 2022 report, the median household income is $74,580 (a 2.3% decline from 2021), while household income levels for each class level are as follows: Lower class: less than or equal to $30,000 Lower-middle class: $30,001 – $58,020 Middle class: $58,021 – $94,000 Upper-middle class: $94,001 – $153,000 Upper class: greater than $153,000 And here's net worth. Based on U.S. census data from 2021, here’s the median net worth of each class: Lower class: $12,000 Lower-middle class: $61,260 Middle class: $145,200 Upper-middle class: $269,100 Upper class: $805,400 Here is some data from pew which is similar but a.couple years fresher than above. According to the Pew Research Center report, the median 2022 household income for a three-person household is as follows for each income tier: Upper-class household: $256,920, a 78% increase from 1970 Middle-class household: $106,092, a 60% increase from 1970 Lower-class household: $35,318, a 55% increase from 1970 View Quote Interesting. I stand corrected I guess. I’m currently lower middle class by those standards. Doesn’t hardly feel like it though. Broke college student life sucks. |
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The " wealthy " that I know are in fact doing quite well . And most of them do not have any type of house payment . And never have . They pay cash .
gd |
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Income and wealth are not the same.
A high income person/family can still be a poor. A lower income person/family can become wealthy. |
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Quoted: Interesting. I stand corrected I guess. I’m currently lower middle class by those standards. Doesn’t hardly feel like it though. Broke college student life sucks. View Quote View All Quotes View All Quotes Quoted: Quoted: From a Yahoo finance article, but based on us census data. According to the Census Bureau’s Income in the United States: 2022 report, the median household income is $74,580 (a 2.3% decline from 2021), while household income levels for each class level are as follows: Lower class: less than or equal to $30,000 Lower-middle class: $30,001 – $58,020 Middle class: $58,021 – $94,000 Upper-middle class: $94,001 – $153,000 Upper class: greater than $153,000 And here's net worth. Based on U.S. census data from 2021, here’s the median net worth of each class: Lower class: $12,000 Lower-middle class: $61,260 Middle class: $145,200 Upper-middle class: $269,100 Upper class: $805,400 Here is some data from pew which is similar but a.couple years fresher than above. According to the Pew Research Center report, the median 2022 household income for a three-person household is as follows for each income tier: Upper-class household: $256,920, a 78% increase from 1970 Middle-class household: $106,092, a 60% increase from 1970 Lower-class household: $35,318, a 55% increase from 1970 Interesting. I stand corrected I guess. I’m currently lower middle class by those standards. Doesn’t hardly feel like it though. Broke college student life sucks. I believe that data is for us whole, so your area may differ slightly. |
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Quoted: They are just broke at a higher level. I know of a few like that, one makes over $500K/yr but is constantly on the verge of bankruptcy. Even still they spend money like they print it, jetting all over on mini vacations a couple of times each month staying in 5 star resorts like they are celebrities then have arguments if the bananas spoil. View Quote This group is the stupid ones… Then you have the ones that thought they spent within their means but after Xidenomics…they failed the test as well but not as bad, example: Married couple with two kids, they make around 250k a year. They take out the average mortgage of 25% of their income for house in a nice school district. The husband drives an F-150 and the wife a Toyota Camry. Both vehicles bought new but 2 years ago and took out 4 year loans. During the scamdemic they both had to work from home. About a year and a half ago they bought a boat since the hour commute each way no longer existed and they found they had more free time on the weekends and more money since gas money to drive to work went away. Fast forward to today, both jobs now said they had to return to the office. This was more of a free time killer but was still affordable, just weekends on the boat got cut down for these reasons. Then came the later inflation wave. This couple felt it in the pocket book at the grocery store but the killing blow was….all insurance rates, property taxes, and other crap when boom. I plan for property taxes but I paid probably 30% more this past year, then it raised some the year before that. Then my home and auto insurance is probably 50% or more than 2 years ago. Most of the time your pay raise keeps up or still “doable” with inflation but in this case, NOPE. Like pointed out, 100k today is not 100k 4 years ago; not even close. From reading the post here (I didn't read the article) this is people making over 100k now buying the “store brand” stuff but not going hungry. They probably won’t go buy a new car when the loans on the current ones are paid off. These are the choices that some are making. The people that have not changed their habits….. we will get to see all the divorces pop up blaming each other when they would have to both look in the mirror and say…we allowed this to happen to us. |
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Quoted: This is where I am. Well made more in covid, but my base pay is the highest it has ever been. Inflation is another form of wealth theft. View Quote Truth bomb dropped…. Show me the percent of people that pay taxes on SS income when they first started tax it and today, do the same for NIIT taxes. I mean the cost of living adjustments have been freaking out-fucking standing…oh wait……that was congress’s paycheck on back door deals. |
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Ya’ll quit saying 100k isn’t wealthy. I’m quite a bit below that with a family of 4 and you’re being hurtful.
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Old definitions of "wealthy" don't apply anymore. 250k a year is the new 100k a year.
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