Tuesday, August 31, 2010

Are You Middle Class?

A friend on Facebook posted this article about the shrinking middle class. I'm sure you've heard the issue being discussed, but I liked this article because it listed benchmarks...how do you know if you're middle class? This article gives six criteria. Here's how I measure up:

*Home Ownership-nope. And I sometimes wonder if I can actually achieve this as a singleton, given where I live.

*Automobile Ownership-yes! I am still paying off my car, but I do have one, and it will be paid off in less then a year.

*College Education for the kids-N/A. I don't have kids.

*Retirement Security-Sorta. If I teach long enough, I get a pension. And after the car is paid off, I'm going to open a Roth IRA (I think. Or a 403b. Or something.)

*Health Care Coverage-yes! I am very thankful for this one, as I know many people who don't have it.

*Family Vacation-yes! I just got back from Bryce Canyon with my fam, and I've gone camping and visited Portland this summer. I've got this one covered.

I was surprised how many I met...though if I were attempting to support a family on just my income, I'd certainly have some different answers. I also like that at the end of the article it says that in order to have all that, you have to work hard and budget. A middle class lifestyle isn't an entitlement, it is something to work for. Though there are circumstances that make middle class status harder to obtain, it is possible for many with work and realistic expectations.


1 comment:

  1. Nice insightful post. Thank you for the article and information. From reading the article, we fit into the Middle Class, hopefully we can remain in this position. I totally agree that one has to work hard and budget.