Most People Think They Are Middle Class (Most Are Not)

[Afro]

I know yall hate watching videos, so here is another one

 

[Easy-E]

The best part this video; Middle Class-ness is becoming hereditary.

The last couple of years have seen the largest invitro (while parents are still alive) transfer of wealth ever.

The Greatest Wealth Transfer in History Is Here, With Familiar (Rich) Winners (Published 2023)

In an era of surging home and stock values, U.S. family wealth has soared. The trillions of dollars going to heirs will largely reinforce inequality.

www.nytimes.com

 

[chineebai]

Good points in the video. Basically there’s a myth of a middle class lifestyle like house cars vacations and people fall into these traps of overextending themselves. To me, if you can have up to 1 year of savings in case you lose your job and still be able to maintain the same lifestyle then you’re in good shape.

 

[Givethanks]

Middle class, my ass is a lifetime member of the working class.

I haven't heard that term in real life in such a long time.

Funny how this thread is a ghost town

 

[Afro]

The best part this video; Middle Class-ness is becoming hereditary.

The last couple of years have seen the largest invitro (while parents are still alive) transfer of wealth ever.

The Greatest Wealth Transfer in History Is Here, With Familiar (Rich) Winners (Published 2023)

In an era of surging home and stock values, U.S. family wealth has soared. The trillions of dollars going to heirs will largely reinforce inequality.

www.nytimes.com

Yup, I see more and more of the articles every month or so.

One of the biggest transfers of wealth is going to happen in the next 5-10 years.
Most of us aren't gonna see it, making a whole generation slide back. Again

Good points in the video. Basically there’s a myth of a middle class lifestyle like house cars vacations and people fall into these traps of overextending themselves. To me, if you can have up to 1 year of savings in case you lose your job and still be able to maintain the same lifestyle then you’re in good shape.

And too many of us will never hit that anytime soon. I know I won't

Middle class, my ass is a lifetime member of the working class.

I haven't heard that term in real life in such a long time.

Funny how this thread is a ghost town

Who wants to hear the truth? That a lot of people are Working Class and don't even know.
Or want to know

 

[UberEatsDriver]

The middle class is a materialistic myth. They are a class that is filled with debt and living check to check. Only upper middle class is real middle class. 200K salary and up

 

[Saysumthinfunnymike]

Good points in the video. Basically there’s a myth of a middle class lifestyle like house cars vacations and people fall into these traps of overextending themselves. To me, if you can have up to 1 year of savings in case you lose your job and still be able to maintain the same lifestyle then you’re in good shape.

The two most important things in my eyes are location and lifestyle. What I mean by that is it matters more about the location than how much you are making, the location determines what your actual wealth is and the lifestyle you lead matters more as well.

People say "how can someone who makes $400,000 a year be broke or live paycheck to paycheck" I'm just using that number as an example and the answer is: Easily.

Right away wipe away nearly half of that to taxes. You want a decent house? A lot of money. You want a decent car? Nice little chunk of money. You wanna start factoring in kids and their expenses and family vacations and all that bullshyt?

It goes quick.

 

[El Bombi]

People get Working Class mixed up with Middle Class.

 

[Saysumthinfunnymike]

The middle class is a materialistic myth. They are a class that is filled with debt and living check to check. Only upper middle class is real middle class. 200K salary and up

That also depends on location. You want to live in NYC or a nice neighborhood in Cali etc. watch how quickly $200K evaporates

 

[Afro]

The middle class is a materialistic myth. They are a class that is filled with debt and living check to check. Only upper middle class is real middle class. 200K salary and up

The salary isn't as important as what you're doing with it. He made a point in the video to say that you can make over $200k and still be Working Class because if you can't stop working or you can't miss a check, you are not Middle Class. People in that range try to keep up an image and go into much more debt.

Middle Class used to mean that you owned assets that made you money. Now could you still buy a boat? Yea, but not as big as the Upper Class who owns their own fleet or something.

 

[UberEatsDriver]

That also depends on location. You want to live in NYC or a nice neighborhood in Cali etc. watch how quickly $200K evaporates

True but then if you live in the middle of America getting a 200K salary is harder. America you gotta compromise for most things

 

[UberEatsDriver]

The salary isn't as important as what you're doing with it. He made a point in the video to say that you can make over $200k and still be Working Class because if you can't stop working or you can't miss a check, you are not Middle Class. People in that range try to keep up an image and go into much more debt.

Middle Class used to mean that you owned assets that made you money. Now could you still buy a boat? Yea, but not as big as the Upper Class who owns their own fleet or something.

That’s true too. As long as you are living in debt or check to check you are fake middle

 

[Saysumthinfunnymike]

True but then if you live in the middle of America getting a 200K salary is harder. America you gotta compromise for most things

If you make $200K in some of those flyover states you can live like a rich muthafukka.

 

[UberEatsDriver]

If you make $200K in some of those flyover states you can live like a rich muthafukka.

Of course. The road to get there is much longer. Corporate companies always factor cost of living in pay and they are as greedy as they are and will not just hand you over a huge salary in jackson Mississippi.

I remember JP Morgan threatening to decrease the salaries of their New York employees that moved to Colorado a few years back when Covid was active

 

[Saysumthinfunnymike]

Of course. The road to get there is much longer. Corporate companies always factor cost of living in pay and they are as greedy as they are and will not just hand you over a huge salary in jackson Mississippi.

I remember JP Morgan threatening to decrease the salaries of their New York employees that moved to Colorado a few years back when Covid was active

one my homegirl moved out to Cali she was a financial analyst for a corporation makin six figures. When she wanted to move out east, same job responsibilities many of the companies wanted to pay her $60-70K.