Comments on: The Poor Middle-Class http://livingoffdividends.com/2007/02/16/the-poor-middle-class/ Join me on my journey to achieve financial independence through dividends, passive income and investments Sat, 15 May 2010 01:48:25 -0700 http://wordpress.org/?v=2.8.1 hourly 1 By: Lazy Man and Money http://livingoffdividends.com/2007/02/16/the-poor-middle-class/comment-page-1/#comment-523 Lazy Man and Money Thu, 22 Feb 2007 08:21:00 +0000 http://www.livingoffdividends.com/2007/02/16/the-poor-middle-class/#comment-523 I'm not sure that discretionary spending has gone up, but I'm not sure it adds up to a whole person's income.<br/><br/>As for your home, being your biggest asset, that's true if you can afford the home and over 30-40 years it will appreciate. If you look at my parents, and many other people's parents, their home was their biggest asset. There's really no reason why that couldn't happen again. I’m not sure that discretionary spending has gone up, but I’m not sure it adds up to a whole person’s income.

As for your home, being your biggest asset, that’s true if you can afford the home and over 30-40 years it will appreciate. If you look at my parents, and many other people’s parents, their home was their biggest asset. There’s really no reason why that couldn’t happen again.

]]> By: finance girl http://livingoffdividends.com/2007/02/16/the-poor-middle-class/comment-page-1/#comment-521 finance girl Mon, 19 Feb 2007 02:45:00 +0000 http://www.livingoffdividends.com/2007/02/16/the-poor-middle-class/#comment-521 Yet at the same time there are so many things that Americans think they "need". Cable TV, multiple phones, big vans or SUVs, eating out frequently, walk-in closets stuffed with clothes, plasma screens, console game systems, etc etc.<br/><br/>I don't have as much empathy as I probably should, as there's tons of discretionay spending out there that gets categorized as "necessary".<br/><br/>It's really all about what's your relationship with money and what does stuff mean to you? Why are you (not you AIMM, I am speaking at a macro level) buying all that stuff? True, housing is expensive in many places, but there's sooo much discretionary spending that's not really needed :-) Yet at the same time there are so many things that Americans think they “need”. Cable TV, multiple phones, big vans or SUVs, eating out frequently, walk-in closets stuffed with clothes, plasma screens, console game systems, etc etc.

I don’t have as much empathy as I probably should, as there’s tons of discretionay spending out there that gets categorized as “necessary”.

It’s really all about what’s your relationship with money and what does stuff mean to you? Why are you (not you AIMM, I am speaking at a macro level) buying all that stuff? True, housing is expensive in many places, but there’s sooo much discretionary spending that’s not really needed :-)

]]> By: traineeinvestor http://livingoffdividends.com/2007/02/16/the-poor-middle-class/comment-page-1/#comment-519 traineeinvestor Sat, 17 Feb 2007 08:15:00 +0000 http://www.livingoffdividends.com/2007/02/16/the-poor-middle-class/#comment-519 "Middle class" is a term than means different things to different people and may vary with context. As Michael points out whether a given level of income makes someone comfortably middle class may well depend on living costs (and other factors).<br/><br/>The point made about the government lying about the true rate of inflation is an important one for anyone planning a comfortable retirement. “Middle class” is a term than means different things to different people and may vary with context. As Michael points out whether a given level of income makes someone comfortably middle class may well depend on living costs (and other factors).

The point made about the government lying about the true rate of inflation is an important one for anyone planning a comfortable retirement.

]]> By: Michael http://livingoffdividends.com/2007/02/16/the-poor-middle-class/comment-page-1/#comment-518 Michael Sat, 17 Feb 2007 03:34:00 +0000 http://www.livingoffdividends.com/2007/02/16/the-poor-middle-class/#comment-518 This argument drives me nuts. Even with my website income, I do <b>not</b> make $70k per year, and yet my wife (a SAHM) and I and our daughter are doing just fine. At least, I think I am.<br/><br/>I don't treat my money like your average Joe Sixpack, for sure, but basing "middle class" on income just doesn't work. It's a regional thing, and if you live in a high-cost-of-living area, then yeah, $70k will probably feel like you're living threadbare.<br/><br/>However, if you live somewhere like Texas or Oklahoma, $70k is comfortable. And houses don't cost $550, so being a homeowner is certainly do-able.<br/><br/>So I guess I'm saying that generalities aren't always applicable. In some places, one decent income works just fine. This argument drives me nuts. Even with my website income, I do not make $70k per year, and yet my wife (a SAHM) and I and our daughter are doing just fine. At least, I think I am.

I don’t treat my money like your average Joe Sixpack, for sure, but basing “middle class” on income just doesn’t work. It’s a regional thing, and if you live in a high-cost-of-living area, then yeah, $70k will probably feel like you’re living threadbare.

However, if you live somewhere like Texas or Oklahoma, $70k is comfortable. And houses don’t cost $550, so being a homeowner is certainly do-able.

So I guess I’m saying that generalities aren’t always applicable. In some places, one decent income works just fine.

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