Distribution of Wealth in SD County

[UCGal]

[quote=DWCAP]
Maybe the other three could tell me how they define the different distinctions? What is ‘middle class’?[/quote]

This is an interesting question… one I’ve been googling (during code build times) over the course of the day.

Polls taken show that more than 90% of people put themselves in the middle class. Only 2% define themselves as upper class. So – pretty much everyone not on public assistance considers themselves middle class. People at the poverty line call themselves middle class.

And I guess another issue is the term “class”… there are some definitions of middle class that have less to do with income and more with education/job type…

One of the definitions I saw was something like this:
* working class – less educated working people. Could have high income (talk to your mechanic or plumber!) AKA blue collar workers.

* middle class – educated working people. AKA white collar workers.

* upper class – those who don’t have to work for a living.

But the original post phrased it in terms of income… and since that’s data I can look up, I did just that.

I know, growing up, my engineer dad and stay at home mom (till I was in jr high) considered themselves upper middle class. We didn’t have luxuries – but my dad was a saver – so he probably could have afforded them – but chose not to in order to save for retirement.

I had an eye opening when I got my first job at an insurance company – women who were less educated, who’s minimum wage income was absolutely needed to support their family. (A lot of military spouses). I saw the struggle to make the rent for their family. It made me appreciate growing up free from that stress.

Today – I’d put myself in upper middle class. 2 years ago (better economy, better income) we were upper class by my definition above… not so much this past year or current but we’re still upper middle.

We do not have the end of the paycheck stress. You know the panic, when you pay the bills trying to figure out which one to pay late because there’s not enough paycheck to cover the expenses. We have enough money to save for retirement. Part of this is because we’re frugal (cheap!)… kids clothes are hand me downs or come from target – not Gymbo or Gap… We have a nice house we can comfortably afford, but not a McMansion. My husbands truck is 15 years old, mine is 5 years old, both are paid for and will be driven till they fall apart. The kids don’t get every toy they ask for (or even 1/10th). We don’t have hired help (no garden service, maid service, etc.) But we are without financial stress and can make our bills and save. That’s why I’m comfortable saying we’re upper middle class.

[SDEngineer]

I find it difficult to believe that someone in the top 5% can honestly consider themselves “middle class” (note: I’m in the top 5% myself, so not griping about anyone making more than me).

It seems to me that if you’re going to break out the tiers into lower/middle/upper, middle should be in the MIDDLE. While I know a lot of people who make plenty of money have equivalent bills to pay (in most cases, expenses seem to rise to meet income), how much of that is really “middle class” stuff? As one example, I pay a LOT more in car loans than most people I’d think in the median 50% of the population. I clearly don’t need to – that 50% doesn’t lack transportation – they simply pay a lot less for it than I’m willing to.

I think a lot of people here are conflating the middle class with the majority of the wealthy or upper class by simply assuming “wealthy” means “doesn’t have to work a day for the rest of their lives to continue to own 5 cars and 3 houses”.

My personal opinion is that if you buy luxury car brands when they’re brand new (or 1-2 years old if you hate the new car depreciation), can afford to fully fund your retirement to the point where you’ll be able to maintain your standard of living purely on your investments alone and SSI will simply be “mad money” post retirement, can go on major vacations 1-2x per year, you’re probably wealthy (my situation).

If you drive used non-premium brands for the first half of your working career, and new non-premium brands during the back half of your career, are able to fund your retirement adequately enough that SSI will be needed, but will be enough, can do the occasional decent vacation once a year (but maybe only afford a really excellent vacation like a cruise or hawaii vacation once or twice a decade), etc, you’re probably middle class. Because that’s really the guy in the middle.

If you’re better off than 19 of 20 people that you meet on the street, you probably aren’t in the middle of anything. If you’re better off than 98 of 100 people that you meet, you’re definitely not.

[SDEngineer]

I find it difficult to believe that someone in the top 5% can honestly consider themselves “middle class” (note: I’m in the top 5% myself, so not griping about anyone making more than me).

It seems to me that if you’re going to break out the tiers into lower/middle/upper, middle should be in the MIDDLE. While I know a lot of people who make plenty of money have equivalent bills to pay (in most cases, expenses seem to rise to meet income), how much of that is really “middle class” stuff? As one example, I pay a LOT more in car loans than most people I’d think in the median 50% of the population. I clearly don’t need to – that 50% doesn’t lack transportation – they simply pay a lot less for it than I’m willing to.

I think a lot of people here are conflating the middle class with the majority of the wealthy or upper class by simply assuming “wealthy” means “doesn’t have to work a day for the rest of their lives to continue to own 5 cars and 3 houses”.

My personal opinion is that if you buy luxury car brands when they’re brand new (or 1-2 years old if you hate the new car depreciation), can afford to fully fund your retirement to the point where you’ll be able to maintain your standard of living purely on your investments alone and SSI will simply be “mad money” post retirement, can go on major vacations 1-2x per year, you’re probably wealthy (my situation).

If you drive used non-premium brands for the first half of your working career, and new non-premium brands during the back half of your career, are able to fund your retirement adequately enough that SSI will be needed, but will be enough, can do the occasional decent vacation once a year (but maybe only afford a really excellent vacation like a cruise or hawaii vacation once or twice a decade), etc, you’re probably middle class. Because that’s really the guy in the middle.

If you’re better off than 19 of 20 people that you meet on the street, you probably aren’t in the middle of anything. If you’re better off than 98 of 100 people that you meet, you’re definitely not.

[SDEngineer]

I find it difficult to believe that someone in the top 5% can honestly consider themselves “middle class” (note: I’m in the top 5% myself, so not griping about anyone making more than me).

It seems to me that if you’re going to break out the tiers into lower/middle/upper, middle should be in the MIDDLE. While I know a lot of people who make plenty of money have equivalent bills to pay (in most cases, expenses seem to rise to meet income), how much of that is really “middle class” stuff? As one example, I pay a LOT more in car loans than most people I’d think in the median 50% of the population. I clearly don’t need to – that 50% doesn’t lack transportation – they simply pay a lot less for it than I’m willing to.

I think a lot of people here are conflating the middle class with the majority of the wealthy or upper class by simply assuming “wealthy” means “doesn’t have to work a day for the rest of their lives to continue to own 5 cars and 3 houses”.

My personal opinion is that if you buy luxury car brands when they’re brand new (or 1-2 years old if you hate the new car depreciation), can afford to fully fund your retirement to the point where you’ll be able to maintain your standard of living purely on your investments alone and SSI will simply be “mad money” post retirement, can go on major vacations 1-2x per year, you’re probably wealthy (my situation).

If you drive used non-premium brands for the first half of your working career, and new non-premium brands during the back half of your career, are able to fund your retirement adequately enough that SSI will be needed, but will be enough, can do the occasional decent vacation once a year (but maybe only afford a really excellent vacation like a cruise or hawaii vacation once or twice a decade), etc, you’re probably middle class. Because that’s really the guy in the middle.

If you’re better off than 19 of 20 people that you meet on the street, you probably aren’t in the middle of anything. If you’re better off than 98 of 100 people that you meet, you’re definitely not.

[SDEngineer]

I find it difficult to believe that someone in the top 5% can honestly consider themselves “middle class” (note: I’m in the top 5% myself, so not griping about anyone making more than me).

It seems to me that if you’re going to break out the tiers into lower/middle/upper, middle should be in the MIDDLE. While I know a lot of people who make plenty of money have equivalent bills to pay (in most cases, expenses seem to rise to meet income), how much of that is really “middle class” stuff? As one example, I pay a LOT more in car loans than most people I’d think in the median 50% of the population. I clearly don’t need to – that 50% doesn’t lack transportation – they simply pay a lot less for it than I’m willing to.

I think a lot of people here are conflating the middle class with the majority of the wealthy or upper class by simply assuming “wealthy” means “doesn’t have to work a day for the rest of their lives to continue to own 5 cars and 3 houses”.

My personal opinion is that if you buy luxury car brands when they’re brand new (or 1-2 years old if you hate the new car depreciation), can afford to fully fund your retirement to the point where you’ll be able to maintain your standard of living purely on your investments alone and SSI will simply be “mad money” post retirement, can go on major vacations 1-2x per year, you’re probably wealthy (my situation).

If you drive used non-premium brands for the first half of your working career, and new non-premium brands during the back half of your career, are able to fund your retirement adequately enough that SSI will be needed, but will be enough, can do the occasional decent vacation once a year (but maybe only afford a really excellent vacation like a cruise or hawaii vacation once or twice a decade), etc, you’re probably middle class. Because that’s really the guy in the middle.

If you’re better off than 19 of 20 people that you meet on the street, you probably aren’t in the middle of anything. If you’re better off than 98 of 100 people that you meet, you’re definitely not.

[SDEngineer]

I find it difficult to believe that someone in the top 5% can honestly consider themselves “middle class” (note: I’m in the top 5% myself, so not griping about anyone making more than me).

It seems to me that if you’re going to break out the tiers into lower/middle/upper, middle should be in the MIDDLE. While I know a lot of people who make plenty of money have equivalent bills to pay (in most cases, expenses seem to rise to meet income), how much of that is really “middle class” stuff? As one example, I pay a LOT more in car loans than most people I’d think in the median 50% of the population. I clearly don’t need to – that 50% doesn’t lack transportation – they simply pay a lot less for it than I’m willing to.

I think a lot of people here are conflating the middle class with the majority of the wealthy or upper class by simply assuming “wealthy” means “doesn’t have to work a day for the rest of their lives to continue to own 5 cars and 3 houses”.

My personal opinion is that if you buy luxury car brands when they’re brand new (or 1-2 years old if you hate the new car depreciation), can afford to fully fund your retirement to the point where you’ll be able to maintain your standard of living purely on your investments alone and SSI will simply be “mad money” post retirement, can go on major vacations 1-2x per year, you’re probably wealthy (my situation).

If you drive used non-premium brands for the first half of your working career, and new non-premium brands during the back half of your career, are able to fund your retirement adequately enough that SSI will be needed, but will be enough, can do the occasional decent vacation once a year (but maybe only afford a really excellent vacation like a cruise or hawaii vacation once or twice a decade), etc, you’re probably middle class. Because that’s really the guy in the middle.

If you’re better off than 19 of 20 people that you meet on the street, you probably aren’t in the middle of anything. If you’re better off than 98 of 100 people that you meet, you’re definitely not.

[nla]

[quote=UCGal]
Household income breakdown:
<15k = 11%
15k-<30k = 16%
30k-<45k = 16%
45k-<60k = 14%
60k-<75k = 12%
75k-<100k = 12%
100k-<125k = 7%
125k-<150k = 4%
150k-<200k = 3%
200k and up = 4%.
[/quote]

Interesting stat. We're at the mid 150k-<200k range. So that makes us at the top 7%? That's hard to imagine because if we go to the mall, we feel that everybody is making way more than us. I often ask my wife where are this people getting their money to buy expensive bags and clothes.

[nla]

[quote=UCGal]
Household income breakdown:
<15k = 11%
15k-<30k = 16%
30k-<45k = 16%
45k-<60k = 14%
60k-<75k = 12%
75k-<100k = 12%
100k-<125k = 7%
125k-<150k = 4%
150k-<200k = 3%
200k and up = 4%.
[/quote]

Interesting stat. We're at the mid 150k-<200k range. So that makes us at the top 7%? That's hard to imagine because if we go to the mall, we feel that everybody is making way more than us. I often ask my wife where are this people getting their money to buy expensive bags and clothes.

[nla]

[quote=UCGal]
Household income breakdown:
<15k = 11%
15k-<30k = 16%
30k-<45k = 16%
45k-<60k = 14%
60k-<75k = 12%
75k-<100k = 12%
100k-<125k = 7%
125k-<150k = 4%
150k-<200k = 3%
200k and up = 4%.
[/quote]

Interesting stat. We're at the mid 150k-<200k range. So that makes us at the top 7%? That's hard to imagine because if we go to the mall, we feel that everybody is making way more than us. I often ask my wife where are this people getting their money to buy expensive bags and clothes.

[nla]

[quote=UCGal]
Household income breakdown:
<15k = 11%
15k-<30k = 16%
30k-<45k = 16%
45k-<60k = 14%
60k-<75k = 12%
75k-<100k = 12%
100k-<125k = 7%
125k-<150k = 4%
150k-<200k = 3%
200k and up = 4%.
[/quote]

Interesting stat. We're at the mid 150k-<200k range. So that makes us at the top 7%? That's hard to imagine because if we go to the mall, we feel that everybody is making way more than us. I often ask my wife where are this people getting their money to buy expensive bags and clothes.

[nla]

[quote=UCGal]
Household income breakdown:
<15k = 11%
15k-<30k = 16%
30k-<45k = 16%
45k-<60k = 14%
60k-<75k = 12%
75k-<100k = 12%
100k-<125k = 7%
125k-<150k = 4%
150k-<200k = 3%
200k and up = 4%.
[/quote]

Interesting stat. We're at the mid 150k-<200k range. So that makes us at the top 7%? That's hard to imagine because if we go to the mall, we feel that everybody is making way more than us. I often ask my wife where are this people getting their money to buy expensive bags and clothes.

[all]

[quote=UCGal]

This is an interesting question… one I’ve been googling (during code build times) over the course of the day.
[/quote]
You need better tools 🙂

[quote=UCGal]
We do not have the end of the paycheck stress. You know the panic, when you pay the bills trying to figure out which one to pay late because there’s not enough paycheck to cover the expenses. We have enough money to save for retirement. Part of this is because we’re frugal (cheap!)… kids clothes are hand me downs or come from target – not Gymbo or Gap… We have a nice house we can comfortably afford, but not a McMansion. My husbands truck is 15 years old, mine is 5 years old, both are paid for and will be driven till they fall apart. The kids don’t get every toy they ask for (or even 1/10th). We don’t have hired help (no garden service, maid service, etc.) But we are without financial stress and can make our bills and save. That’s why I’m comfortable saying we’re upper middle class.[/quote]
How old are the kids? Naartjie, PumpkinPatch and Children’s Place on clearance have better deals than Target. Subscribing to Children’s Place newletter might be good idea. You just need to be willing to purchase Spring clothes in Fall and vice-versa.

[all]

[quote=UCGal]

This is an interesting question… one I’ve been googling (during code build times) over the course of the day.
[/quote]
You need better tools 🙂

[quote=UCGal]
We do not have the end of the paycheck stress. You know the panic, when you pay the bills trying to figure out which one to pay late because there’s not enough paycheck to cover the expenses. We have enough money to save for retirement. Part of this is because we’re frugal (cheap!)… kids clothes are hand me downs or come from target – not Gymbo or Gap… We have a nice house we can comfortably afford, but not a McMansion. My husbands truck is 15 years old, mine is 5 years old, both are paid for and will be driven till they fall apart. The kids don’t get every toy they ask for (or even 1/10th). We don’t have hired help (no garden service, maid service, etc.) But we are without financial stress and can make our bills and save. That’s why I’m comfortable saying we’re upper middle class.[/quote]
How old are the kids? Naartjie, PumpkinPatch and Children’s Place on clearance have better deals than Target. Subscribing to Children’s Place newletter might be good idea. You just need to be willing to purchase Spring clothes in Fall and vice-versa.

[all]

[quote=UCGal]

This is an interesting question… one I’ve been googling (during code build times) over the course of the day.
[/quote]
You need better tools 🙂

[quote=UCGal]
We do not have the end of the paycheck stress. You know the panic, when you pay the bills trying to figure out which one to pay late because there’s not enough paycheck to cover the expenses. We have enough money to save for retirement. Part of this is because we’re frugal (cheap!)… kids clothes are hand me downs or come from target – not Gymbo or Gap… We have a nice house we can comfortably afford, but not a McMansion. My husbands truck is 15 years old, mine is 5 years old, both are paid for and will be driven till they fall apart. The kids don’t get every toy they ask for (or even 1/10th). We don’t have hired help (no garden service, maid service, etc.) But we are without financial stress and can make our bills and save. That’s why I’m comfortable saying we’re upper middle class.[/quote]
How old are the kids? Naartjie, PumpkinPatch and Children’s Place on clearance have better deals than Target. Subscribing to Children’s Place newletter might be good idea. You just need to be willing to purchase Spring clothes in Fall and vice-versa.

[all]

[quote=UCGal]

This is an interesting question… one I’ve been googling (during code build times) over the course of the day.
[/quote]
You need better tools 🙂

[quote=UCGal]
We do not have the end of the paycheck stress. You know the panic, when you pay the bills trying to figure out which one to pay late because there’s not enough paycheck to cover the expenses. We have enough money to save for retirement. Part of this is because we’re frugal (cheap!)… kids clothes are hand me downs or come from target – not Gymbo or Gap… We have a nice house we can comfortably afford, but not a McMansion. My husbands truck is 15 years old, mine is 5 years old, both are paid for and will be driven till they fall apart. The kids don’t get every toy they ask for (or even 1/10th). We don’t have hired help (no garden service, maid service, etc.) But we are without financial stress and can make our bills and save. That’s why I’m comfortable saying we’re upper middle class.[/quote]
How old are the kids? Naartjie, PumpkinPatch and Children’s Place on clearance have better deals than Target. Subscribing to Children’s Place newletter might be good idea. You just need to be willing to purchase Spring clothes in Fall and vice-versa.

[Author]

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