Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I was having a discussion with friends and this topic came up. We had widely different opinions! What household income (HHI) range would you classify as upper middle class (UMC)?
There is an obvious caveat that anyone at any income can fail to live within their means and end up overleveraged. So we're not discussing lifestyle as much as hypothetical -- how much income do you need to live comfortably on LI?
Last edited by copperbeech; 02-27-2013 at 07:12 AM..
Reason: typo
I agree with the above. I dont think there is a set answer because some people make a great income (ie <$250K if we use Obama's definition) yet they dont have much in savings or discretionary income left over because they pay 50% toward housing, lease luxury cars, or put their kids in expensive private day-care/schools. It will really vary based on that person's debts, expenses, etc. I know some couples in our social group who make much less ($100K combined) yet they max out their 401K, take nice vacations 2x/year, live in a nice 4 bdrm/2bath in Wantagh but thats because they dont have kids, no debt, and only eat out 1x/month. Compare that to higher income couples who blow their paychecks eating out/getting take-out 3-5x/week, finance 2 SUVs, commute from Ronkonkoma to NYC every day, etc.
The problem on long island is people living as if they were upper class but are not. How many people driving 50k cars and SUVs actually make enough to afford those cars?
How many people buy these 5 room mcmansions but cant afford them?
I was having a discussion with friends and this topic came up. We had widely different opinions! What household income (HHI) range would you classify as upper middle class (UMC)?
There is an obvious caveat that anyone at any income can fail to live within their means and end up overleveraged. So we're not discussing lifestyle as much as hypothetical -- how much income do you need to live comfortably on LI?
I'll bite and without the snarkiness.
$175k. Family of four, includes saving for college and retirement.
so what level of income do you think makes one a snob?
No the lifestyle and attitude you can be rich and be the nicest person in the world
belive me i got a sister who buys a new car every 3 years i know the meaning of showing off and treating people like dirt.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
