Hooray you’re middle class in Texas!

[ohm_resistor]

@outofthedesert Under poverty line per person (66k/4)

 

[kuriositina]

@resjudicata There is no doubt, I would anticipate that if you asked anyone with a family of 4 in the above income levels they would tell you that the income is far from enough to sustain what the family needs to “feel” middle class. When I think of middle class I have the impression that if in that class you have some wiggle room on income to be able to comfortably invest at least 10% of income into savings and retirement yet that amount removed from income level is a major dent in family budget expenses. In either case, costs are increasing and it’s all across the board, making the daily family costs of living a challenge.

 

[spiritualhuman]

@kuriositina Pretty much. Middle class according to the US Government means the minimum that your family can survive on with without government assistance.

The Middle class that people think of is that you can comfortably live with your family without having to coupon and budget like crazy so you can still afford your bills while also saving for retirement and college.

The difference between these two numbers is substantial. You’d need to double the government estimate to get close to real middle class.

 

[black_square]

@spiritualhuman Yea people consider middle class with thriving wage when in reality it means you can work and afford all necessities. Non essential probably arent factored into that equation

 

[resjudicata]

@kuriositina Yea I mean you could maybe “survive” and ration food and literally do nothing but work for 66k for a family of 4. I swear they try to capture as many people as possible into this middle class label to make people feel as though they’re doing okay.

82k for a family of 4 in Hawaii??? I’ve been there and there’s no way.

 

[david2001]

@kuriositina Agree. According to a recent Washington Post article, 90% of people believe you need the following to be considered middle class:

• health insurance
• secure job
• can afford $1000 emergency without debt
• pay all bills on time without worry
• can save for the future
• can retire comfortably

Surprisingly, home ownership not included.

Only 35% of Americans meet this standard.

 

[kuriositina]

@david2001 Rings true for sure. I am thankful to be meeting all of the above but like so many things, a person’s financial condition could change on a dime. More reason to be well prepared. Emergency savings 3-6 mths goal of monthly expenses readily accessible. Retirement contributions and if anything, taking any employer match. Managing of debt specifically credit cards in particular. Living within one’s means.

 

[ernestcop]

@kuriositina With a paid off house and no other debt and a moderate lifestyle it's solid middle class. I think people think middle class is going shopping and eating out everyday. That's upper class.

 

[jessicaleanne1992]

@resjudicata Not in major metros. The mass migration to Texas over last decade has caused the big cities to become way more expensive. I could see it before that.

 

[calmnow]

@jessicaleanne1992 Agreed. I watched rent for decent apartments go from $800 to 1200+, the rent is on steroids and giving roid rage

 

[andy2014]

@resjudicata This is just not true if you live in a metro area. As a family of four, we feel like we are barely middle-class in the DFW area. It terms of what we are able to provide for our boys, I would say we're hovering between lower-middle and the low end of middle, most of the time.

 

[resjudicata]

@andy2014 Also funny that the difference in income needed between Mississippi and NY is a mere 16k per year

 

[ressa]

@andy2014 Well its a state number not a metro number so yes it would be slightly off.

 

[andy2014]

@ressa This is where so many people from out of state are moving to. They all want it to be LCOL, and it hasn't been like that for five years now. It's never going back.

 

[bobfeed123]

@andy2014 "Middle class" depends on your expenses. If you have a child (lets say just one, young), in daycare you need $900/mo per child to pay that expense, so $66K minus childcare expense of $11K a year for one child would put you out of range of middle class. #reality

 

[ernestcop]

@andy2014 I'm in a metro area in TX and 66k is definitely middle class I'd your house is paid off and you have no debt. The issue is when people are big consumers and like to have flashy new cars and giant houses.

 

[calmnow]

@ernestcop You said the magic words “if your house is paid off”

 

[andy2014]

@ernestcop Our house is not paid off.

 

[holyghostfire777]

@resjudicata Middle class to me is the lifestyle choice s affords you, NOT the median wage.

68k does not afford you the stereotypical middle class lifestyle in texas. More like 160k in central texas

 

[ilikemango]

@resjudicata This is straight bullshit, 66k is just above the poverty line in most places, including Texas.