(Closed) Do you think 250k/year is middle class?

posted 5 years ago in Finances
  • poll: Do you think 250k/year is a good place to draw the line for higher taxes?

    Yes, that's a good place to draw the line

    No, the line should be lower

    No, the line should be higher

    Not sure.

  • Post # 16
    Member
    1887 posts
    Buzzing bee

    I would not say that’s rich, but I think that’s definitely upper middle class and a pretty privileged position to be in.

    Post # 17
    Member
    1066 posts
    Bumble bee

    To me, that’s definitely upper class, anything over about $150K would be upper middle for my husband and I. We’re also from pretty affordable areas and don’t have any debt. We’re very comfortable and middle class at under $80k combined

    Post # 18
    Member
    1150 posts
    Bumble bee

    View original reply
    pinkshoes:  The line should be higher.  

    Post # 19
    Member
    469 posts
    Helper bee

    Where I live that’s upper class, not middle class. 

    Post # 20
    Member
    1174 posts
    Bumble bee
    • Wedding: July 2015

    It depends on where you live.  DH and I make more than that combined, but living in Manhattan, it’s middle class, I would say.   We’re comfortable, but not well off by any means.  We can’t afford to buy real estate in Manhattan.  

    Post # 21
    Member
    642 posts
    Busy bee
    • Wedding: A restaurant on the beach

    It depends on where you live and how many people you are supporting. A family of 9 obviously requires more resources than a family of 4. My parents make a little more than 250K/ year and I consider us middle class. We live in the DC metro area and living is not inexpensive. 

    Post # 22
    Member
    2866 posts
    Sugar bee
    • Wedding: November 2015

    What I make vs $250K… that’s like being freaking Oprah!

    Post # 23
    Member
    5839 posts
    Bee Keeper
    • Wedding: May 2011

    We’re just north of 250K in New Jersey and I would consider us barely upper middle class

    Post # 24
    Member
    225 posts
    Helper bee
    • Wedding: March 2016

    View original reply
    passthepeas:  I’d love to hear why you feel that way.

    That’s definitely upper class to me. I’m not sure if it’s the area or just the way I grew up, but most people I know are around $50k combined so to have an extra $200k I think I’d feel rich.

    And I’m from an expensive part of Florida.

    Post # 25
    Member
    1555 posts
    Bumble bee

    The problem with arbirtary lines is that it’s completely dependant on where you live in the US – the band needs to be broad enough to capture those on either extreme.  Also, taxes vary depending on single or family payer status.  

    Post # 26
    Member
    943 posts
    Busy bee
    • Wedding: September 2016

    View original reply
    pinkshoes:  definitely depends on where you live. Combined, Fiance make just under that amount annually, and we are by no means rich! We are definitely middle class 

    Post # 27
    Member
    416 posts
    Helper bee

    I think the idea of what it means to be “rich” is skewed. It often conjures ideas of multiple houses, lavish vacations, etc, etc. If that’s what it means to be rich, then $250k is too low.

    But I think when we say rich and poor and middle, we are describing a position relative to others and $250k is certainly rich in terms of how many people relative to others make that much. It however doesn’t mean what we thought it did. For most people in this bracket, it means being able to max a 401k, pay for emergency medical bills or car problems, pay for your children’s education if you want, leave an inheritance, not look at every items cost at the supermarket and put things back because you’re over budget. These aren’t the sort of things that get you a reality show and I think are easy to take for granted but for most of the population, they are huge.

    For reference, top 5% of households make over about $160k while 75% of families make less than $80k.

    • This reply was modified 5 years, 5 months ago by viridianx.
    Post # 28
    Member
    906 posts
    Busy bee
    • Wedding: October 2016

    For a dual-incone, no-kids couple in coastal California with no debt (other than mortgage), I’d consider it upper-middle class. We are slightly over that amount, and we don’t have any problem paying for what we need or want and saving for retirement.

    We have a great lifestyle! Part of that, though, is made possible by the fact that we have great work benefits and don’t pay out of pocket for gym, commute, healthcare, and other quality-of-life costs.   

    BUT–if we had kids, it would put us in the middle. 

    Post # 29
    Member
    2697 posts
    Sugar bee
    • Wedding: March 2015

    I would say anything under 500k is middle class, with 250 being firmly middle class. While the cost of living varies geographically, so do salaries. Higher costs of living generally command higher salaries and vice versa.

    Post # 30
    Member
    5934 posts
    Bee Keeper
    • Wedding: May 2014

    If $250K is middle class I must be living in poverty!!!!! EEEEEeeeeeeee!!!

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