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When I first wrote this article, my goal was to talk about the American middle class, especially in the light of the global picture. It was originally published on August 31, 2012 after my husband and I went to dinner with some people inside me. As we enjoy steak and potatoes, the discussion turned into an area, which often gives our careers in finance, economics and investment: money. In particular, our food companions were interested in discussing the status of middle class and middle class income; What has happened to families working for middle-class jobs, and for the millions of hardworking American men and women, enjoying a good standard of living standards.
Before we discuss the situation in which the middle class now finds itself, many of you know that this is my heart’s favorite subject. We discussed here square and household income for early people in the United States. I have also delayed some interesting, advanced data sets on my personal blog, who want to know what is actually going on with their friends, family members, neighbors and colleagues. In those terms, we:
In each of the 50 states, the level of annual household income required to rank among the top 1 percent of all households;
It was found that, in particular, the top 1 percent of all households in the United States generate wages (wages, business ownership, etc.);
It has been examined that how much property (total assets) is among the richest 1 percent families in the whole country;
How many people earn more than $ 1,000,000 per year in the calculated United States;
In the United States, the top 1 percent of families saw some specific data points;
Given the Federal Reserve data for 2010 and later, the 2013 Federal Reserve figures, the middle class of the age group and other characteristics like education broke;
In the United States, 1,821,745 households have been seen, with investment portfolios of $ 3,000,000 or more;
Seen, where the top 5 percent of the family’s annual income is on the United States map; And
Talked about “hierarchy” hierarchy in the United States, breaking rich families into five categories.
We even joined the event like theft of wealth, which is the practice of secretive millionaire-looking people that they can deposit their money without even searching their children. You have learned that credit card debt is not just a problem for a large part of American families – in fact, 1 out of 2 credit card debt is not at all because they pay their remaining full or they Do not use credit card in the first place. and that’s not all. About 3 out of 3 household owners have no hostages.
When you join senior citizens, this number reaches 2 out of 3.
Historically, despite this being a huge problem, even student loans are not as bad as it seems, at least not on social grounds. In fact, 2 out of 5 college graduates leave the school with no student loan loan, either due to working their way through college, receiving scholarships, obtaining grants, covering an employer, or Have to enjoy parents or other support. In the remaining 5 out of 5 graduates who have a loan, the median student loan is quite unimportant relative to the huge increase in lifetime earnings – barely $ 10,000.
(The “average” figure that you listen to the media, is often a matter of mathematical illiteracy because it does not reflect the general graduate leaving the school; rather, the medical school and other professional school graduates include graduates who pull data It is extremely unusual to say this, after years of special study, it is extremely unusual to say, an undergraduate Liberal Arts, who is a graduate student loan loan with $ 30,000 +. C does not talk about this because no one wants a shock on the table. Speaking acknowledging that they do not want to give anything or just give a small amount.
But that is different from the point of view. We were talking about middle class. Before we get into it, answer an important question: What is the middle class, with a purely quantitative viewpoint?
Looking at the middle class in the cold, hard numbers
Using the most recent data published a few years ago, if you and your family live in this country and your family generates a combined pre-tax income of $ 2,894.83 and $ 4,335.75 per month, Are. In particular, if you are an economist, then economists break all the houses into five groups based on 1/5 of those falling into different income groups. At the national level, this figure – from $ 2,894.83 to $ 4,335.75 – is true that you live in an expensive city like New York or in a farm in Kansas.
Which takes it.
People sometimes like to say that for a person living in a place like San Francisco, this will not happen when there is reality, the product is different. Yes, $ 2,894.83 to $ 4,335.75 will not make you middle quintals of household income for that municipality, but you are still a middle class at the national level because the product you are getting for your money is the best; Better weather, more cultural, educational, legal, commercial, shopping and leisure opportunities, proximity to the vast reserves of special human capital and much more.
Despite having less discretionary income, if you were living in a house in the middle of South Dakota, then you are not poor. In the latter case, you will get out of your door and you will not find much. You are simply choosing to spend your money on a better location rather than your better housing, car, furniture or clothes.
From the quantitative point of view, if you do less than that, then you are not of middle class.
From the quantitative point of view, if you make more of it then you are not of middle class.
Of course, you might have mid-class values. You can also experience in the middle class. If you think that you are yourself, you are joking, because middle class is an economic difference that breaks the revenue of the center quintal based on the distribution of home income.
Recent conflicts of middle class
Interestingly, some people talked about it on the table, “It is impossible to increase the family income on middle class income nowadays, especially in the 1950s or the 1960s.” Which is both meaningless and ignorance. Yes, a large part of the productivity gains has been found to be rich, which makes me ideal especially for the society. However, the reality is that the expectation of middle class has increased. To make it easier, you can reduce the middle class earnings on current moderate income, or if you really want to do this.
In other words, this is an undeniable thing that can be emotionally sound, but there is lack of precision and intelligence.
The middle square footage of the “middle class” house has skycococals during the interval timeline, which is more than 50 percent. To maintain this, more electricity, more carpets, more maintenance, more furniture and high property taxes are required. In addition, in many cases the quality of the house has increased.
Typical American family now wants two cars in one place, which was expected in the past. This means that banks spend more interest on car loans. This means that selling more during purchase. This means that every year more property tax. This means that higher vehicle insurance premiums Also, this car is of higher quality compared to the car in the past. When you can reach an accident due to good engineering and materials, you are less likely to die while driving. You have entertainment and comfort options ranging from hot seat and navigation to integrated, quality sound systems and power windows.
Nearly the typical American family has set up a television for a long time, it is now more than three, spread across the house, many of which are video game consoles, DVD players and Apple TV, which generate satellite or cable bills, and Online recurring subscriptions.
Typical American family now considers air conditioning as a complete, non-negotiating requirement, rather than an extraordinary luxury. Electricity and running water by most people – but they have not reached all houses since the 1950s.
Even in the poor families of the United States, individual household members have many iPhones and other smartphones, resulting in four-four annual billing fees instead of single landlines.
It’s just the upper part. The federal government is tracking these kinds of things for a long time. It has black and white crystal clear economic data there. Healthcare cried so much that what is today – a heart attack, for example, and your doctor will give you a glass of water, some aspirin and ask you to rest on the hospital bed.
In fact, today’s conditions were scrambling to come back in the form of a normal American family who complains about the previous era, the living standard of living is a middle-class lifestyle to live. The probability is very high. Despite the downturn, there was no increase in inflation-adjusted revenues for the less skilled wage group, even though they were physically better.
Makes all of these worse The fact is that classification mates give a powerful influence on household income and childhood outcomes, which change opportunities for social mobility. (See some shock in recent years) Academic circles point out to the employees of Harvard University as humble, but there is no doubt the child is looking forward to the child’s top half after marriage, while the children are quickly expelled from Wadlock in the lower part of society and get married. And the similar rates remain anywhere around, and fail to live there is a big result Of producing a difference.
It does the same with the same reasons that Wal-Mart is able to exclude smaller stores: scale economics. When you have two adult people connecting effectively to a single economic unit, you get a scale (in terms of investment, you reduce operating leverage). You spend less percentage of income on accommodation, food, insurance and transportation. You have a convenient labor benefit that if one of you takes a leave, others may take longer hours or get another job. You have underlying childcare benefits which mean less money for third-party babysitting or daycare facilities.
Suddenly, you have more free money to put the RO
This is not a popular message, but mathematics is a math; There is nothing changes in the unfortunate and compelling findings that are more strangers than middle-class conflicts, they are bound with birth rate. However, it is the specialty of winning the election on the campaign’s formula. Thus, the subject is again identified for the Ivory Towers and Think Tank.
Do not get me wrong. Profit or productivity was to recognize the growing recruitment not justify gratification to ensure that most local boats were born, borrowing metaphor, but only those intellectually dishonest or comparable to today’s middle class compared to all previous generations and all, today’s middle class is positive. This is a fact. It does not matter what stories you have been thrown or how you feel about it personally, can not change the reality.
We are not living in the economical system of some peninsula. When life was never good, the best percentage of life is enjoyed by families measured by the standards of life. You and I are living on top of a great culture.
Why is middle class sad? There are many reasons
Keeping in view the facts, why are people sad about the greatest collective wealth in all human history? There are some reasons for this.
First of all, people can not really understand how the past was. Take the example: time.
People complain about less time than before. This is a lie. In fact the non-truth confused typical American has 5 hours more free time per week than their parents, and their great grandparents have 40 hours of free time per week, compared to the modern productivity miracle that the washing machine and dryer, dishwasher, refrigerators are for microwave ; Lonmovor fixes Items such as benefits by chemical and textile companies will also save time in the materials used for the production of clothing.
There are non-iron variations of popular dress shirts for Brooks Brothers managers and executives, which can be pulled out of the dryer and it can be like freshly downtown. Men’s gloves do not require a garter, which means less time to prepare. Add these to all small, ridiculous, apparently trivial things.
Sad part? When you see what ordinary Americans do with their time – which is more than 40 hours per week, compared to that of grandma and grandfather – the answer is clear in all achievements: they watch television. Actually when you add an internet show and DVR recording, the average American uses unrealistic 40 hours of television every week, more than physical activity. (This is not an accident that watching television is related to the most measurable metrics with success in life.
When you break into demographic statistics, they are unlikely to watch TV for more than one hour, compared to all other income groups in less high-income households each day, it’s time to do uneven reading, exercise, to serve or to pursue a hobby.)
Another reason for the middle class hatch is the emergence of mass media, which is linked to the qualifying culture. Americans now want more. They believe they are more authoritative. And, honestly, though it destroys the largest fund raising system in global history, I think that’s a good thing. This is the reason that life has been better and better. We all should reach a certain place where everyone can tolerate all-styled medical intervention. This subscription is because we go to the grocery store, do not think about any air conditioned item, or almost everyone knows how big a supercomputer it takes in pocket.
Problem? There is a lot of evidence of practical economics that suggests that people see their success and prosperity that they see. A generation ago, you did not feel much outside your world. Now, you can see any other endemic parade that earned in the middle class every month equal to $ 10,000, $ 50,000 per month or $ 1,000,000 per month, because they have a number of cable channels and Internet sites they are separated That they are sitting at home at home marketing is targeted, relevant and distributed, which you think they affect your wishes.
This includes the production place targeted to show television shows, audience demographics; A never-ending stream of messages that infects your disorder, which can be happy to tell you if you only buy this product or service; If you have only this type of car or a wardrobe, you can love it; If you only drink this brand whiskey or vodka, you will get respect for your colleagues. There are thousands of rich and successful rich millions on Instagram and Twitter.
Do you think whether your measurable metric spins or not?
For those who are involved in their networks, they can also make sense of reality. This article was originally written back on August 31, 2012, someone told me that the net middle class of $ 20,000,000 was $ 80,000 per month. It’s neurotic. When you are in socio-economic balloons, it is a big understanding that compared to the people around you, compared to your large population, to the number of people you are in.
This is the state of “out of sight, out of the mind”.
Do not think that you should ask the rich to take it, it seems that the middle class also does this. In the United States, middle-class families earn $ 52,000 per year, making up the world’s top 0.97% revenue. That is, they are literally, global 1%. In most parts of the planet, complaining about the price of a foreign wood for a boat as a billionaire, their worries seem ridiculous.
Despite the middle class challenges, you can still make a fortune and get financial independence.
Ethical: Even if you have challenges to challenge middle-class lifestyle compared to other demographic – the value of education has increased, the cost of health care has come out of control – if you are struggling to save money or to invest, or where you are financially You’re disappointed about, get some perspective, because it takes you one step behind and it may seem, United By living in ets, you have a better chance of staying in a very numerical moment; When we talk about living in this country, we all won the lottery.
Without economic independence, there is no reason to reach the end of life, even on middle income income, less than the unexpected medical disaster. It can not be socially popular to accept, but it really comes in your power and behavior-based decisions. Like Ronald Reid, the nearby minimum-warden watchman, giving enough time, is quite possible to create $ 8,000,000 + portfolio.
If you are a US If you are poor, you oppose Bill Gates, this is not your fault. If you die in poor America then this is your fault. It’s no truth how many people appeal to their basic tendency to codify and justify failure, this is the truth. Events can be controlled to some extent, your life is the sum of your past decisions and your reaction to things made from you. Every single day, the decisions you make take a step closer or closer to your goals.
Those decisions are always related to each other. For example, if you want to clear the high value to leave a great fortune for your future children and grandchildren, then with each cigarette placed in your mouth, you will move one step forward with that goal. It costs a lot of money which can be a combination for you. It stops your life, which means that the time to reduce tax-efficiently before using things such as base loopholes and property tax repairs.
It does not mean that as a culture, we should be right. Need to solve the issues of housing, education and healthcare in some areas of the economy. I want to get a better life for each of you, where money is not worrying. It’s still in your power. You can be rich retired. You will enjoy control over your time. It requires discipline and attention, but nothing is right in life, whether it is in shape and running a musical instrument or learning to maintain a healthy weight.
Awards are worth trying, so I encourage you to get started. You can do this, this will not be easy, and it will not be overnight, but millions of people who have joined themselves have done this. By changing your behavior, you change your luck. Everything that you allocate to your two dolls comes down and it is related to money as soon as possible, you’re pulling two lifes.
American Middle Class No Longer World’s Richest : Video
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