Trent Strong
Banned
Yep.
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200k a year families claim they are "not rich"
- Thread starter Liberty4all
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Yep.
ThisWreckage
Banned
No one forces them to live there. Their 200K a year income would seem like a million dollars if they lived elsewhere.
The $10,000 for travel seems more ridiculous.
What should be brought up is definitely the size of the family and the location. A family of 5 with a special needs kid living in an expensive city would do alright with 200K but we're not talking rich in this case.
If you live smart you'll end up with no debt and have some money to put away for your kids' educations. That's better off than 90% of the other families out there buy again, that's not rich.
If you live smart you'll end up with no debt and have some money to put away for your kids' educations. That's better off than 90% of the other families out there buy again, that's not rich.
200k a year is definitely upper middle class. Those that disagree must be talking about the absolute most expensive cities in the U.S. Try and realize for a moment that those cities can likely be counted on your hands and toes. Theres a whole lot of fucking land in the country that isnt that expensive.
200k is upper middle class, seriously. It isn't rich though. But assuming they handle planning for their retirement right, they will be able to nearly live rich by the time they retire, barring unpredictable catastrophes.
200k is upper middle class, seriously. It isn't rich though. But assuming they handle planning for their retirement right, they will be able to nearly live rich by the time they retire, barring unpredictable catastrophes.
Man and I thought spending $300 on groceries a month was insane.
They're very well off but I wouldn't call that rich where they live. You judge your wealth by your peers. If they were in my town, they'd be rich. In a New York or a Toronto, they're doing well for themselves.
That said, they aren't hurting for cash so they just need to shut the fuck up and stop gloating.
That said, they aren't hurting for cash so they just need to shut the fuck up and stop gloating.
speculawyer
Member
$800 with a a bottle every night? Not just rich but alcoholic rich.
ThisWreckage
Banned
Compared to most people, they are indeed rich. I can't believe people are disputing that. I think the average American income per year is somewhere around 30,000 dollars. Perspective.
If I ever have a six figure income, I will live in an entire block of foreclosed houses in Detroit.
To be fair, others have brought up that there are some scenarios in which $200,000 a year doesn't leave as much extra money as you'd think.
CrocMother
Banned
reading this thread makes me feel that my concept of wealth is skewed.
In my mind, anything over 60k=middle class, 100k= upper middle class, and 250k+=rich (American)
In my mind, anything over 60k=middle class, 100k= upper middle class, and 250k+=rich (American)
They spend more money on groceries then I sometimes make in a month. Think about that for a second.
This is family income. The median Canadian family income is $75,320. Though, I'm unsure about Toronto in particular.
Yeah, I wonder how many gaffers posting in this thread are living in Toronto raising a family.
So, they should move and take their job with them? Did you hit your head recently?
shinobi602
Member
Fuck man...with the way I budget my money, I'd be swimming in cash everyday making $200K...........
The Technomancer
card-carrying scientician
I'd downgrade that to just "comfortably" since that's about what I grew up at and that's how I would describe it. The fact that the standard of living that I had growing up would could even be considered "very comfortable" compared to average Americans disgusts me.
Then, you may be poor. That doesn't make them rich. It just means they spend their money foolishly. The problem with calling a family rich when they make $200K is then what does that make someone making $1 mil a year, $10 mil a year, $100 mil a year?
TheNatural
My Member!
Maybe for a single person. But for a married couple with 2.5 kids I think it breaks down more like this:
100k = middle class, 150k = upper middle and 250k= rich
But that's only for middle America. On the coasts (places like Boston, Frisco, NYC, San Diego) the scales are different.
If you're not living in fear of your utilities being shut off, you're already better off than a lot of people.
Liberty4all
Banned
In Toronto the average income is 75 - 80 k for two income earners. In some of the well off suburbs like Milton it's 91k.
That is a normal middle class income. Not 200k.
If you can spend $800 on wine and $1000 on designer/top end clothes, you are rich. There is no defending that.
So...are you a student? Single? Family? Age? What's the dealio.
I can go out and spend $1000 on designer clothing and $800 in wine tomorrow. That won't make me rich, it'll just make me clear out my savings.
They probably wouldn't be making $200K a year if they moved somewhere else, with a lower cost of living.
Careful, dude. You might out yourself as having grown up with a household income that puts you into torches and pitchforks range for Occupy-GAF.
While of course the efficacy of 200k per annum varies a large amount dependent on where you live in the world...
No where in the world (at least city wise) where you can consider 200k not more than enough for a comfortable living with the ability to save significant amounts and have it build up over time in assets.
No where in the world (at least city wise) where you can consider 200k not more than enough for a comfortable living with the ability to save significant amounts and have it build up over time in assets.
crimzonflame
Member
200K in Toronto is not rich, but it's not something to complain about either.
The Technomancer
card-carrying scientician
Exactly my point.
Liberty4all
Banned
I am. Although admittedly DINK (double income no kids). 100k a year you can live VERY comfortably between 2 people.
Median household income is like 32,000 USD in the US. I see you pushed the middle class down from 100k to 80k.
I'd say:
< 45k Poor
45k-100k Midldle class
100-150k Upper middle class
150k-1 million Rich
1M-20M Very rich
20M+ Monocles Club
exactly. I only consider someone rich if they dont actually have to work, or they could easily take off at least a few years and not have to worry about a thing.
These people have a comfortable salary, but that doesnt make them rich.
Surface of Me
I'm not an NPC. And neither are we.
Double rich.
Seriously though, six figures is a good amount better off than a lot of people.
Their lifestyle may be rich, but that doesn't make them rich.
Shit, I could probably live a "rich" lifestyle on 70K a year, if I had no debt, no studnet loans to pay, no kids, no wife, lived right by my job. It's all about what you're doing with the money. If you make $200K for a family with 3 kids, in an expensive area, high taxes, HUGE student loans (a reality), high gas and food prices, then you can't sustain their lifestyle.
I'll admit, their lifestyle is crazy, but their income isn't rich. Rich is all in perspective. I used to think $200K was rich because I went to a broke public school where everyone was making way less. Then, I attended a wealthy private college, and $200K would be considered barely making it there. I sympathize with what you're saying, but I have trouble lumping people $200K with people making multi millions, and calling them both "rich".
Well, there's a balance here where you need to decide whether you prefer to enjoy finer quality stuff or do you want to be a man with a big bank account but without the joys that extra money can bring.
Striking a balance is important but depriving yourself of trips and concerts that you enjoy if you have some surplus is no way to live your life. Seems like these people favor experiencing a more decadent lifestyle over saving until they're too old to enjoy the things they can buy.
MidnightScott
Banned
rich people problems
40some,000 actually.
200k isn't upper middle class, 200k is very rich. Top 3% of households rich. It doesn't matter where you live, you will be living a rich lifestyle with that kind of money.
If you live in a richer neighborhood and you aren't massively more rich than those around you, that doesn't make you less rich. Paying more for those richer things doesn't mean you aren't rich, it means your fucking living a rich life.
If you live in a richer neighborhood and you aren't massively more rich than those around you, that doesn't make you less rich. Paying more for those richer things doesn't mean you aren't rich, it means your fucking living a rich life.
I don't see how someone pulling in a million a year can be grouped with someone pulling in 150k.
In terms of just personal income or household family? If the latter, I agree.
I live in the Buffalo area though where the cost of living is cheaper than most cities in the US.
Liberty4all
Banned
I think the angst comes from the fact that the article tried to play it out like their expenses were "normal". They aren't.
This way of labeling people is just silly. There is a HUGE difference between a family making $150K a year and a family making $1 mil a year. Or even 45K and 100K.
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