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Anonymous
Anonymous asked in Business & FinancePersonal Finance · 2 months ago

Am I lower middle class or upper middle class?

I’m 27, live in NJ, make $65k/yr, Masters Degree, no kids, 20% of gross income into retirement, , no student loans or other debt.

Update:

Lastly - I have about $40k in index/mutual fund stocks (including retirement), about $10k in savings. I choose not to have car since public transit is good near me.

Update 2:

My portion of the rent is $700/mo

8 Answers

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  • 2 months ago
    Favorite Answer

    Pretty middle middle.

  • Judy
    Lv 7
    2 months ago

    neither. middle class.

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  • 2 months ago

    Your class is about who you are not how much money you make.  It is about your family, your education and your values.  For example, if you attended tax-payer funded primary and secondary schools  you are definitely not upper middle class and never will be.

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  • Anonymous
    2 months ago

    you worry about nothing 

    it is like asking are you a medium height -- in japan verse USA average is different 

    Class has much to do with what kind of person you are as income

    if you are just speaking of income ,, middle class  

    your savings is poor (low) with the numbers you show 

    my guess is you only have been on the job for a couple years 

    you need to have as a goal a paid for home by 45 and enough to live on the rest of your life at 55 no older that 62 

    class of personality is one we choose .. if your living a night club life over a opera life for example ... or if you are a stay at home dog person... there is no wrong life if you are clean and pay your bills 

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  • y
    Lv 7
    2 months ago

    What you have saved, invested, blah, blah, blah, means nothing. It can be wiped out in the blink of an eye. In some cases, only becouse you were paying the wrong firm to manage these things.

    Anywho, what is the average income for NJ compared to what your income is, that is how you tell at what level you are in. Some a little bit smarter when it comes to their money then others. That plays a part in guilty of life now and in the future, but doesn't change what level you are at.

    My towns average is 140 thou, state is in the high 60's. The gas station down the street averages 50 cents more a gallon then a couple of towns over. Same for groceries. 

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  • Anonymous
    2 months ago

    You're definitely a 1%'er.

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  • Anonymous
    2 months ago

    Your class depends on a variety of factors, not just your current income.  Other factors are things like your social/professional connections, cultural literacy, net worth, what you do for a living, lifestyle, etc.

    That being said, if you're ONLY looking at income, middle income in Jersey is $81k/year.

    Your net worth is pretty close to zero in terms of what you need for financial stability/retirement.   But you have a lot of years to grow your nest egg.

    You are definitely on the right track in terms of education, investing, no debt, living within your means.   Keep it up for 40 years and you'll  be heads and tails ahead of 80% of everyone else. 

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  • Mandy
    Lv 6
    2 months ago

    Nice salary.  But not middle class.

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