What is poor, middle class and rich?

[CoffeeCat]

I was just wondering if anyone cared to define (as in income before taxes)
the delineation between poor, middle class and rich.

What range of income puts you in the "poor" category, the
"middle class" category and the "rich" category?

I'm wondering if most of us agree on what is poor/middle class/rich
these days.

[Herman Munster]

1. it depends where you live

$30,000 in rural Mississippi is a lot of money.

$30,000 in New York City is poverty.

[pnwmom]

10. Exactly. In NYC even $100K isn't a lot of money.

[The_Casual_Observer]

2. Ask anybody, they'll tell you that they are middle class.

[RaleighNCDUer]

3. Not me. I have to work two jobs to make ends meet.

And have nothing left at the end of the month to show for it.

That means I'm poor.

[Herman Munster]

4. answer these questions

do you have a roof over your head?

bathroom facitilies?

food to eat every day?

If the answer to those questions is all yes, you are rich compared to most of the world.

[stillcool]

8. compared to most?.

I don't think so. There are many shoes I would rather not fill, but that in no way improves the condition of my own. Bathroom facilities, food, and shelter are the criteria to determine class in this society?

[LynzM]

9. Not in this society, if you mean the U.S.

But speaking in terms of the world, yes, that is wealth. Shelter, clean water, food, and any kind of medical care is better than many do in many parts of the world.

[pnwmom]

11. That's true. Most Americans are rich by that comparison.

[Wiley50]

5. My Definition

Rich: You own your house

Middle: You and your Mortgage Company own your house

Poor: You have no house

[Cobalt-60]

7. By the Gods! I am rich after all!

I own all 500 square feet of my home!
Maybe Dubya will appoint me pro consul of Iran!

[Wiley50]

14. I Live In A 28 Ft Sailboat that has No Mortgage

So, I consider myself rich too

Even though I live on $620/mo SSI

[rman]

15. how about healthcare, education, food?

Say you have a house but no health care: are you poor or middle class?

[kineneb]

17. not really, depends on age of person

I know lots of poor older/disabled people who own their homes. BUT, they often do not have the money to heat those homes, or enough to eat properly. Selling their home is not an option, because it is paid for, and allows them some independence.

The only way we can survive on Hubby's SSDI payment is the fact that our mortgage (equity loan) is so small. If we had to rent we would be screwed.

[Wiley50]

18. Hey! How's Hubby Doing?

I haven't heard from you in a while,

Still on dialysis?

[kineneb]

20. doing a little better

he is off the blood thinner and the clinic is able to use his arm access for dialysis. I guess the kidney doc and the heart doc argued it out between themselves.

He was getting really sick over the holidays because they had to use his chest catheter (damned thing has been in 1.5 years, should have been out within 6 months...another story), and the toxins were building up in his body. The blood thinner caused him to bleed a lot after dialysis, so they went back to the catheter. He lost his appetite and almost stopped eating. Needless to say, he lost more weight he could ill afford to lose. But I have almost been force-feeding him eggs and other high-protein foods, and his blood panel looks lots better from the one last month. He is still quite weak, and tires easily.

The good news for me is I got into the Co. Mental Health's low-income program and now see a therapist once a week. This medical "adventure" is really taking a toll on my energies.

My Advice: Get tested periodically for diabetes. If properly treated and monitored, it will not destroy your body. Undiagnosed, it damage is disastrous.

[seriousstan]

6. I have a 2 unit rental and a 2400sq ft house. I can lose either or all

any month I fail to make the payments. It hasn't happened yet. I owe nearly 1/4 million to the bank and I wonder who was more stupid. Them to lend it or me to borrow. Time will tell. Fixed loans under 6%.

I consider myself middle class.

[Greyhound]

12. How about this, if you've opened new bank accounts because you've reached the

$100,000 insurance limit, you are rich?

[eallen]

13. It's truly hard to say. It's not just income, but also age and wealth.

And obviously, on number of dependents. A young person with few assets supporting a spouse and two children is going to feel they're on a pretty tight budget, bringing home less than $2,000/month. After taxes and rent for a small apartment, and utilities and food, there won't be much left. On the other hand, a single individual who owns their own home, with some savings in the bank for one time expenses, and investment or pension generating lifetime income totaling $1,500/month, with increases for inflation, might feel comfortable enough to retire. Does that make the latter individual rich? If that hypothetical individual is an 18 year-old who had just come into an inheritance, I would say "trust-fund kid." If a school teacher who just retired at age 68 after 45 years of work, I would say "hard worker deserving their modest retirement."

The distinction between income and assets is important. I've known people earning $200K/year who couldn't make ends meet and spent themselves into serious debt, but others making less than a quarter that who were building a nice nest egg of investments. Obviously, the high income earner has the opportunity to dig themselves out of debt and build up a nest egg. But what if their income ends tomorrow? The "poorer" earner with the nest egg not only has more assets, but also is better able to live on their proceeds.

[Solo_in_MD]

19. I like your approach

A middle class family's income is really age dependent.

[kineneb]

16. medical care access defines poverty in America

I realized this sitting in the Doc's office the other day.

The Rich: have all the money to buy the best care they want/need. They don't worry about being sick. Access to care is not a worry.

The Middle Class: Worry that they will loose their insurance if they lose their job. Some stay in crappy jobs to keep their health care. They are a paycheck(s) and an illness away from bankruptcy.

The (true) Poor: sometimes qualify for health assistance which is often inadequate or non-existent, sometimes with a share-of-cost which makes seeking care impossible. They have to file a mountain of paperwork to get into the low-income programs. They put off medical problems until they need to go to an emergency ward, because they often have no other access to care.

I fall in the latter category- I qualify for California's CMSP program, but my share-of-cost is $250/month, with an income for 2 of $1238/month (SSDI). One has to spend down to the $934 limit before the state pays anything. Hubby gets Medicare/Medicaid because he is on dialysis. I have to rely on the charity of my Doc (reduced fees) and medicine samples, because the share-of-cost eats into our food and gasoline budget for the month.

[lligrd]

21. So We Are Back To - It Depends On Where You Live

If you live in a country that has free medical where the cost of living is well within your means or live in any country and have millions of dollars in saving to pay for any medical costs you might incur you can consider yourself well off. Unfortunately, that leaves most Americans out.

[Ellen Forradalom]

22. A Child's Guide to Socioeconomic Status

I once read this some place.

If your dad comes home at 4:30, you're lower middle class.
If your dad comes home at 5:30, you're middle class.
if your dad comes home at 6:30, you're upper middle class.
If your dad never comes home, you're rich.
If your dad never leaves home, you're poor.

[sweetheart]

23. a go at definitions

poor: no matter how hard you work, there is not enough
working class: If you're shrewd, you can survive; your kid knows they're out of the house at 18.
middle class: if you lose your job, you have some time to get another one; your kid probably gets stoned.
professional class: you own your house, but you're never in it.
upper class: You can't trust anyone 'cuz you never know why they talk to you.

[Swamp Rat]

24. What is poor, middle class and rich in a blender?

New Orleans