Are you middle class? Where are the lines drawn in 2016?


I recently googled median income in several locations, and the results were a little odd to me. In Columbia SC, a top 10% family earns combined household income over $114,000. Bottom 10%? Anyone under $27,000. Is the middle class the middle 80%? What if they have 3 kids? What if they have 6 kids, or if they have no children?


I ask because I was raised lower class, as 1 of 5 kids in a single parent household whose sole provider earned just-above minimum wage and Dad paid little to no child support. So I "ASSOCIATE" as lower middle at best- (see how I worked THAT in there??) even though I earn enough to be top in the 10% for the past 15 years. I still fear poverty every day and save like 15% of my earnings for the future/retirement.


I hear the middle class pays for the bottom 10% as far as the taxes to pay for the welfare and all that. Is that true? What do the "wealthy" pay for with their taxes then? Is it all subjective regardless?


My buddy Stew makes over $400,000 per year and considers himself middle class, but his wife doesn't work and they have one kid. I call him rich and a top 1% guy. My friend Jessica makes over $200,000 annually, is single and no kids but considers herself middle as well. I think both are out of touch just a little bit with how tough it really is out there.


Anyway, seems like a matter of perspective nurtured by your upbringing. But "middle class" is the theme every election and here we go again.

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I've averaged less than 6 figures since my kid was born and my wife stopped working. We own a home, 2 cars and some pets. I feel that we are middle class. If I had to put us somewhere in a scale I guess I'd say we are lower middle class.

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It's all relative, people make more spend more so they feel broke and call themselves middle class. obviously when you make more than you can spend you're rich but that's such a minority. I think the IRS has a % over poverty based on family size, that's how they factor welfare and stuff like that on a sliding scale. After 200% over the poverty rate they cut you off IIRC. So I'd say that is probably a safe entry point for middle class.

 

Ok here's a chart just did a fast google search: https://aspe.hhs.gov/poverty-guidelines

 

So for a family of 6 the poverty level is $32,580 so double that is about 65,000 a year. I'd consider that middle class.

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We've been living on $15k - $20k a year since becoming self-employed.  Our expenses are much lower with no commuting, no work wardrobe and time to grow our own food. 

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Growing up, I assumed my family was middle class. But the older I get, I realize we were more lower middle class. My father was in the military and my mom usually kept part time jobs when my dad was not deployed. We always only had one care, rarely went out to eat, never took vacations and did not really get things like new shoes or clothes until they were necessary.

 

I now consider myself middle class. My wife and I both have good paying jobs. We own a house, have two cars. We take vacations at least once a year. Our kids have things I never could have dreamed of having. We have no debt and are able to contribute enough to retirement funds that we can retire at 60.

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I consider me and my wife to be middle class... for the region that we live in.  As an example, I make a pretty comfortable living, have no bills except for a mortgage that will be paid off (early) by the end of the year and have a decent amount of money set aside in the bank.  I do invest money and have a nice retirement nest-egg building up.

 

With that being said, I would probably be considered lower middle class in places like California or New York City and possibly upper middle class in other areas.

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There are 10 kinds of people in this world.  Those who understand binary and those who don't.

I saw this topic and thought it was interesting. Middle class is an evolving segment, and it differs in economic regions.

 

When my grandparents were alive they lived in a 3 bedroom house with a single bathroom and detached garage. They had one car they shared. Grandpa worked, grandma ran the house and mothered 3 children. They were middle class in the 60's.

 

When my parents were alive they lived in a 4 bedroom house with 2 baths and an attached single garage. They had 2 cars they shared. Dad worked, mom ran the house and mothered 6 children. They were middle class in the 70's.

 

My wife and I have a 4 bedroom house with 3 baths and a double car garage. We have 3 cars and a condo at a resort island. We have no children. I consider us to be middle class, but certainly living better than my grandparents, or parents.

 

Regards....................the Chiefjag

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I grew up in a 4 bedroom bungalow. Two older siblings , two younger siblings. My dad was a teacher and my mother was a nurse. Had two cars and a 24ft yacht, went on holiday for at least a week every year.


Always managed to have enough money but never enough to be considered in anyway wealthy. I would consider my upbringing stereotypically middle class.

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