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Thursday, February 15, 2007

Do you feel rich?

Accoring to this article on MSN Money, if your household made over $91,000 in 2005, then you are "upper class", in the same category as Bill Gates, by the census bureau's standards. Most of my friends and family fit this bill. Yet I don't feel we have an "upper class" lifestyle. Maybe this is because most of our income goes to income taxes, property taxes, then mortgages, then high prices for gas and insurance, leaving us with little left over for hat shopping and yachting trips. But maybe everything's relative, living as I do in the shadow of Beverly Hills' billionaires, I would naturally feel quite poor by comparison. What do you think of the census bureau's figures? Comments, please.

3 comments:

Kelly said...

It depends on where you live. $90k+ is enough to live an upper middle class lifestyle in most of suburban Philadelphia. But it doesn't buy anything in San Diego. Where my friend Lisa is living in Indiana, that would also be pretty good money. But they were struggling to afford a nice place when they lived in Los Angeles. Places like California and New York and New Jersey have just gone horribly overpriced in the housing and property tax departments. Once you pay for that, there's nothing left. But people are living in Alabama making $35K and having a huge house.

Kelly said...

It depends on where you live. $90k+ is enough to live an upper middle class lifestyle in most of suburban Philadelphia. But it doesn't buy anything in San Diego. Where my friend Lisa is living in Indiana, that would also be pretty good money. But they were struggling to afford a nice place when they lived in Los Angeles. Places like California and New York and New Jersey have just gone horribly overpriced in the housing and property tax departments. Once you pay for that, there's nothing left. But people are living in Alabama making $35K and having a huge house.

stud-horse said...

I agree with Kelly, it depends where you live. Here's Duffy's Guide to Household Class Structure by LA/Orange County Income Standards (if you please):

LA/Orange County Household Income
$0-55k: Lower class
$55-110k: Lower-middle class
$110-165k: Middle class
$165-220k: Upper-middle class
$220k+ : Upper class

"Always Tell The Truth"