I found this to be very interesting. It says that we are Upper Class based on our income, but we have historically made some not so great financial decisions, so that sucks.
You don't have to actually answer this post, but I'll add a poll option, mostly, I just wanted to share this calculator because it was simultaneously eye opening and depressing.
This doesnt apply to me because I live in Canada but who doesnt love a poll? I put our income and that we were in the NYC metro area (because we live in a city with a HCOL) and it says we are in the upper income tier.
So, we're actually between two different Metro areas that are identified in this poll, but I chose the Philly area and it puts us in the top tier along with 23% of others in the vicinity. If I put in Reading, which is actually closer by 20 miles, it puts us in the top 19%. *I put this info because I know that there are quite a few other Philly area ladies on this board.
Post by onomatopoeia on Sept 13, 2019 7:57:16 GMT -5
I put Upper Middle, since the choice of metro areas in my state on the calculator were only VHCOL (I was middle class) and a LCOL (I was upper class). I live somewhere in the middle. Maybe that's cheating? I don't know. I feel UMC. We have a modest home, vehicles, etc, but we save money, go on vacations, have a fully funded retirement and put a bit aside for college. We're doing much better than the majority of the country.
DH would argue that we're lower middle-class but he sees all the fancy houses around us and Facebook vacations, etc., and feels like we're doing so much worse than the Joneses.
We are middle. I actually would have guessed upper middle given our income and being a 2 person household, but this explains why we still feel squeezed lol.
Middle is a big category though - my husband just got a 30k raise (after finishing his PhD, he was making next to nothing before) and it didn't change our status at all - we would have been middle before and we're still middle.
My metro area wasn't listed so I chose the one closest in economic standing to the area we do live in and it says upper with 13%. If I choose none of the above it puts up in middle for the state.
Post by puppylove64 on Sept 13, 2019 8:20:26 GMT -5
I also got middle, but expected to be upper middle. We live in a very LCOL area and compared to many friends we make way more than they do. I’m surprised how little some people make in my area while others make crazy amounts. I don’t know if it is as I get older I notice it more, or if the times are making it worse, but the wage gap is insane!
We are in the middle class. I fiddled around with the calculator to see how much I would have to make, if I went back to work, to move into the upper class. Turns out it would have to be a managerial job, which to me is not worth the effort and time lost.
Upper, but it still surprises me because I am a school counselor and my husband is a Navy officer. He does get some special pay for being an aviator and is "higher ranking" now that we're old, but still. We certainly aren't pulling in any major bonuses or commissions. We have a pretty fixed income.
The calculator doesn't have 'lower middle' or 'upper middle' as a descriptor in my state, I played around with it to see what the cutoff between middle class and upper class is. We are close enough I think to the cutoff that I chose upper middle for this poll.
Philly area. Upper, along with 23% of the area. I feel firmly middle-middle class. Like I shop at Whole Foods, but not exclusively. I blame the cost of child care.
The first time through, I got upper. Then I removed my husband's income, since he got laid off on Monday and we're down in middle, with 51% of our metro area.
Middle which I guess says more about those around me bc I would have guessed at least upper middle.
But I guess it does explain why tiny starter homes in need of work can go for 600k+ (We bought at the bottom & our house has appreciated 30%+ in a decade).
Upper. Just because we have to budget and can't afford anything we want (and I drive a 13-year-old car) doesn't mean we're not super lucky to be where we are.
And yay only a high school degree with some college:
Among all American adults with your education, age, race or ethnicity, and marital status, 32% are LOWER income, 56% are MIDDLE income and 12% are UPPER income.