Golgatha
Lifer
- Jul 18, 2003
- 12,680
- 1,597
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The problem is that people on AT don't fit those percentages. We have more like 30%+in upper middle class, 60% in middle class, etc. The view is skewed.
Back when I was middle class and now in upper-middle, not much for me changed. More money in savings for the most part. I think this is why most people don't see a difference between middle and upper middle outside of the extreme highs and lows.
Biggest difference I've noticed is that I have a new car a lot sooner. I don't buy stuff that I don't think is worth the tag and when my income goes up $10k or whatever, that's usually just money in the bank. I've already become used to not having that $10k.
I honestly don't know what I'd do different at $500k/yr. Maybe retire earlier.
I'm in the same boat. The main difference I've seen in my neighborhood is people complaining about mortgage payment taking up a large part of their paycheck (probably due to a small amount down on the house).
The other difference? When I got a new car late last year; the conversations I had with neighbors. Several neighbors were shocked that I wrote a check for it. Many of them have nicer vehicles, but I've heard at least a couple talk about what they're planning to do when their lease is up. Nothing wrong with leasing if your priority is to have a new shiny vehicle every 3 years I suppose. But I'm a weirdo. I've only had a car payment once in my life, and that's because I was very young (19 and in college), my car was totaled, and I found an excellent deal from a friend of my dad on a replacement car. Took out a $1,700 loan and paid it off within a year. My dad was good with money, but my mom was horrible (parents divorced when I was 2 years old largely over money issues). I decided, at a very young age, I was NOT going to live paycheck to paycheck and/or live beyond my means.