Gen-Z Says $74,000 Per Year Is No Longer Middle Class

[@GrahamStephan]

-Get free life insurance quotes from America's top insurers and start saving today with Policygenius: policygenius.com/graham. Thanks to Policygenius for sponsoring this video! -Here is a link containing the source material for each piece of research cited. I do my best to make my videos as accurate as I can, and the additional resources should help anyone who wants to look into them further - enjoy! docs.google.com/spreadsheets/d/15JCqktJaTww1pgCBewv8z4zMs1E93GjqaGz8iiQeOA8/edit?usp=sharing

[@Billionaireben]

They may say that, but job salaries outside of silicone valley tell a different story. FL financial analyst salary starts at $58k, a lot of lawyers don't make enough to justify law school. Of course the best advice to the average person is 'don't be average' but easier said than done.

[@schuylergeery-zink1923]

What are all these cars exploding in flames and being flooded 😂 omg

[@darius9513]

Those studies are completely wrong on the utilities part for Orlando it's ridiculous high. Also life insurance should not be the answer to all this. Another thing to consider is insurance for health care and for your car

[@zodiacfml]

due to technology, many things in today are more affordable and abundant regardless of income except real estate. real estate has become luxury. since real estate has become scarce, a painful birth rate decline will match it.

[@hitmansneak]

I appreciate that you went through all of this research though you are crazy if you think a 5% interest rate is possible for the average American at this point, The average American is 7%-8%.

[@y0utuberculosis]

If you can't afford all your bills, savings for retirement, and a dinner out now and again, it's not middle class.

[@chimchu3232]

I agree, with the insane rise in prices in a lot of sectors due to inflation and the supply issues, money just doesn't go as far as it used to.

[@cripmo425]

“Your bills” is very vague. You need to just lower your bills.

[@angeluceta5688]

​@@cripmo425 exactly.alot of people just open up their bank account to the entire world to pick at it lol

[@jackattackhissnack]

​@@cripmo425lowering bills can help but the statement is about being middle class, not survival. Middle class is having your basic needs met and having some left over.

[@TA-np4mc]

​@@cripmo425 middle class should be able to afford a small basic house at minimum or even a condo.

[@dealforbet8888]

Middle class is supposed to mean I don’t have to stress over everything to pay my bills and save money.

[@thelifewithnate]

Middle class also used to mean that you can afford to take the fam on a nice vacation without having to worry about not affording the bills or the mortgage this month. It's crazy man, no wonder the next generation doesn't have any hope.

[@jsebby2284]

​@@thelifewithnatewhy don't they have any hope?

[@jsebby2284]

@nealcassady-yn3bh great depression for prices to go back to what? Yeah I'm sure it is

[@jsebby2284]

@nealcassady-yn3bh well $20/hr is $41,600 - not 30K. But I understand what you're saying now. Covid defintely fucked up the housing market. House prices have already started to come down- and interest rate cuts are on the horizon. We definitely need house prices to continue going back to the norm - I agree - I just don't think you want a Great Depression haha

[@stillbuyvhs]

If that's true, then most folks have never been middle class.

[@zachcarmichael699]

I make $56k as an IT systems admin in a suburban area in the south in the US. After taxes, required pension contribution, and benefits, I'm left with $1500 per paycheck (so $3k a month). Here are my monthly expenses: $1200 rent $30 water $30 trash/sewer $140 electric $40 internet $40 phone $200 groceries $120 gas $140 student loans $290 car payment $110 car insurance That's $2340 of necessary expenses, leaving me $660 a month. So after any personal expenses, entertainment/streaming services, gym membership (a must for physical/mental health) and miscellaneous expenses that come up, there's really not much cushion for savings. It's sad.

[@CherokeeMaxx]

Your car payment is eating you alive. Either sell it or Pay that ish off, after saving up $1000 for emergencies. Then dump all that into your student debt. The debt snowball works brother! Word to Ramsey.

[@goahnary]

@@CherokeeMaxx That car payment is VERY low and you absolutely have to have a car in the south. I've used the snowball method as well and it works every time. Great feeling psychologically... But the question here isn't if you can work things out. It's if you are MIDDLE CLASS. Middle class families shouldn't need to snowball all their expenses and pinch every penny. They should be able to live a resonable life and go on one vacation a year with savings to cover unforseen expenses. That isn't possible until at least $90k in a small metro area. Any bigger and it needs to be 100k+

[@malcomreynolds4103]

you need to leave the public sector. All you are doing is subsidizing the pension payments of baby boomers. Even in ms, al and la you could easily make another 20 grand a year in private sector with a 401k that will actually be there when you retire

[@Duecegod101]

It really comes down to expenses. I make about the same as a valet but am able to save over 1k a month because I drive an old Honda that’s paid off with 27$ insurance (State Farm) cell phone is 20$ a month (mint mobile), no student debt, live in employee housing 600/month everything included. I couldn’t imagine paying 200 a month for electricity. Entertainment is KZbin/tubi which is free. Food/beer is 200 a month but get free beer in tips and food drive at the church when needed. Need to find cheaper health insurance I spend about 180 a month on that biggest expense. Two years ago I moved out here with 800 bucks and now have 27k in savings and starting to invest and build a 401k with my employer. It’s possible if youre single and smart with your money. If I start a family and get a dog I’ll need more than 20/hr tho

[@seraphcreed840]

Ah I found it! The "pull yourself up by the boot straps sonny" comment. Thank you sir. ​@@CherokeeMaxx

[@traineewaden906]

If you can't buy a house you're not middle class, if you can't support your partner/family on a single income you're not middle class. These things used to be considered normal/the standard.

[@alexbarcovsky4319]

THIS

[@Username_CC_]

Owning a home on a single salary has been a fantasy for decades.

[@jsebby2284]

If you make up definitions of middle class it can be anyhting you want And no - they didnt

[@TheHigherVoltage]

When was that?

[@waveofbubble2194]

exactly

[@giajeep-yf8nz]

Most people do not Make 74k More like 40-60k

[@lijohnyoutube101]

40-60 isn’t a job it’s a hobby/part time job for a teen. If someone is legit making that as an adult they need to fix their life!

[@27Zangle]

@@lijohnyoutube101 You're way off!!! Most people make less than $40k a year working full time. I used to be a manager for a store and did the hiring, we had tons of application from many people just needing a job, any job and were willing to make around $28-32k a year because that is what is available in a lot of towns and cities. Many have a significant other who makes the same amount and they live a nice lifestyle. It took me till nearly 40 years of age to break past $40k a year and now make similar to the amount stated in this video. A lot of it comes down to luck and being in the right place and knowing the right people. Location is one of the biggest factors as well, like for me, I lived in a very seasonal town / state and it was expensive, many people who owned home or business in the area are rich people from out of state who pay poorly and take the money with them in the winter.

[@lijohnyoutube101]

@@27Zangle the average US salary is 53,000 a year and the median (true halfway point where most are sort of falling) is 75 K. Unless you are insanely desperate or retired etc less than 40k like isn’t even worth it. The last time I made under 40k a yr I was 19. Why settle for such a pathetic amount?

[@benjaminperez8770]

​@lijohnyoutube101 tell me you're out of touch with average American workers without telling me you're out of touch with average Americans

[@lijohnyoutube101]

@@benjaminperez8770 I flat out shared the average and median. You aren’t talking about the ‘average’ or typical you are talking about the poverty class.

[@IamERAMOS]

That's if you have a 74k salary. Average annual income is 60k as of 2024 in the US.

[@LuisRojas-mz2mg]

average level is skewed by super high earners. consider citing the median annual income

[@hottamaledancer]

I'd be THRILLED to make 60k/yr! I work my ass off and haven't broken 43k

[@destroya3303]

That is mentioned in the video for those with longer attention spans.

[@rubixpuzzlechamp]

Median personal income is only 40k. Median income for a 23 year old is 21k.

[@malcomreynolds4103]

@@LuisRojas-mz2mg Not really. Few high earners have that much income paid in cash outside of professional sports, but there aren't enough of them to matter. Stock options, where most high income earners get the majority of their income from, arent realized until they are sold, and none of them are selling billions of dollars of stocks at least without putting it back into something else and nullifying that income.

[@ronjohnson2760]

Imagine charging 14 grand for a car thats more than 20 years old and only cost 24 grand brand new in 2002.

[@drumyogi9281]

I drive a 25 year old Ford Ranger with manual everything in it. Bought for 5k 18 years ago. You can buy old Buicks around the same era for about 7-9k that have around 60k miles on it. Super reliable cars and since they are old person cars they were garaged and maintained. You won’t be winning any dates but you will be winning at life.

[@DaInfamous0ne]

I have a 2000 blazer. I refuse to buy a new car. The engine did just go out at 307k so I have to find a mechanic... And the money to fix it. And I live in Tennessee... Hardly anybody is making over 40k in the south unless you work for the government.

[@malcomreynolds4103]

that 14 grand now is not worth what 14 grand was in 2002. 24 grand in 2002 is not 24 grand today, its a lot more than that.

[@DL-fl5ul]

I bought a 5 year old Ford Explorer with 60k miles XLT for 19k last month. Inflation has definitely happened but the internet exaggarates a lot

[@BryanBagehi]

My household income is solidly over $150k, yet we are less financially secure now than we were when our household income was under $100k a decade ago. The price of every, especially insurance, has skyrocketed. Homeowner's insurance is more than 6x what it was a decade ago. Healthcare insurance went from something an employer would give you because it only cost them less than $200 a month to something that I have to pay over $1,000 a month for and I'm only paying for 25% of it. I pay more per month for car insurance than I paid every six month a decade ago. Insurance went from a side thought on the family budget to a large chunk of it.

[@andresgarciacastro1783]

When you get older, you'll be sick and they'll force you to choose between selling your stuff or dying. Your descendents will own nothing and will be neo-serfs.

[@Lane_online]

I'm here to say that Gen-Z is right depending on where they live. Inflation is real and it's awful. Where I live, rent alone (not including utilities, renter's insurance, etc.) is $2500 a month for a small two bedroom apartment. That's $30k a year. You can't even be approved to rent such an apartment on $74k a year. Options: - Live in a studio that's slightly cheaper - Live in a dangerous area - Move across the country - Live with parents

[@jsebby2284]

Yeah but why are you getting a 2 bedroom as an individual

[@Lane_online]

​@2284 The point of the video is that 74k is no longer middle class. Middle class would be able to afford a medium-sized living space. A second room could be used for an office or a guest room. Don't you think someone designated as middle class would be able to afford a guest room?

[@jsebby2284]

@Lane_online but it is middle class. It's like 25% higher than the median salary. No - I don't think renting a 2 bedroom apartment as an individual is a requirement for middle class.

[@jeremyfisher8512]

@@jsebby2284 I mean if you plan to be alone forever and never get a roommate or date anybody ever yeah you'd be right

[@jsebby2284]

@jeremyfisher8512 notice how I said "as an individual"? If you have a roommate or a partner that moves in with you then youre not an individual and you split the bills lol.

[@tonyl7286]

74000 is a good salary for someone single, but lord have mercy if you're trying to provide for a family with that.

[@TheSnappyo]

That’s where I’m at. I make $80k at 23 yrs old. I can’t imagine having kids until I can hopefully buy a home, free up my income from student loans, and progress in my career. I can’t complain that I’m fortunate for my position, but it’s not comfortable enough to start a family or use for others than myself.

[@TheRealSteveMay]

Yep, I made 75k last year, and I'm the sole provider to a family of four. I live in a low cost area, but it's still very hard to stay solvent.

[@dobber43]

​​@@TheSnappyogood u got ur priorities straight also make sure the person is actually someone you wanna spend ur life with if for no other reason cause it will seriously effect ur money if it goes bad

[@uhohhotdog]

Other way around. If you live alone 74k is nothing because you have no one to split with

[@djangomarine6658]

Umm, average household income is around $80k. Plenty of people are making it work. Comparison is the thief of joy. I blame Instagram.

[@Aebaz1]

funny how graham spent the entire time trying to disprove the original video discussing how $75,000 does not afford a middle class lifestyle, then describes how someone could spend their $75,000 income to live as frugally as possible. living as frugal as possible is not equal to middle class.

[@SkittleBombs]

Living he literally used realistic figure and for the same example. Literally didn’t reduce quality of living at all. Trust me if he wanted to give people frugal numbers $16k USD for a car for brokies wouldn’t be his recommendation.

[@Patel-Chirag-Gupta]

​@@SkittleBombs he quotes someone that speaks against spending 13 bucks a day on whatever the case may be. idk i think thats lowere class if you cant do that.

[@watuwantt]

Middle class is means living frugally for many years so that you can afford to buy assets that help the next generation.

[@jsebby2284]

Says who?

[@stefanbstreet8634]

Living frugally will help get you out of the middle class and towards wealthy so that you aren't trapped. by debt.

[@bills2843]

This is so accurate. Im a college student who was struggling to pay my bills because of my high tuition rates even after all the scholarships I got. So do you know what I did? I did what any sensible person would do and got a second part-time job to make more money. Got a call saying that I was no longer eligible for medicaid. Got bombarded with telemarketers asking me to sign up for health insurance but all of them had deductibles of at least 1K with monthly payments starting at a minimum of $250. So now I'm uninsured. The American middle class has been broken

[@bills2843]

@guymontag5084 I appreciate your words of advice. The thing with federal aid is that the university hands it out and there's nothing in my hand about it. If I go about the private bank route, I know I'll be stuck with student loan payments for years to come. Pair that with the cost of buying a house and I'll be in a mountain of debt. I'm trying to avoid that at all costs in this moment. You are right that it is mentally taxing but unfortunately I don't have a choice

[@disenfranchised2.073]

Thanks Obamacare! Loving that "hope and change."

[@sasukesuite1]

“74k is poverty” Entry level engineers: 👁️👄👁️

[@mikethepokemaster2012]

Sounds like the guy living brove his means lol

[@lockedoutofaccount]

Same like I make 74k a year and I'm like aye imma go look at a nice fun 25k car

[@Phatnaru0002]

This is what constantly raising the minimum wage does. Your paycheck does not live in a vacuum. All increasing the minimum wage does is increase the cost of living.

[@seraphcreed840]

​@Phatnaru0002 cost of living multiplies, but we should keep minimum wage 7$. You live in a fantasy that doesn't assume corporations don't make pricing decisions based off profits. We don't live in a fantasy world. Even game economies change based off demand and upgrades. Ya goofing friend.

[@Phatnaru0002]

@@seraphcreed840 Of course they make pricing decisions off of profits, and starving out your customers is not profitable. The economy adjusts around what people can afford.

[@youreyesarebleeding1368]

Graduating with a CS degree in December. I've got a full ride scholarship and I get a few hundred dollars back each semester. I'm doing some freelance software engineering work right now and living with my parents, so far I've saved up $30k but hoping to hit $70k by the time I graduate. After that, I have a friend who is working full time at a defense company and he can recommend me there, so if I get the job I'll be making about $100k/yr right after graduation in Alabama. We'll be roommates so we can save on costs, and I'm hoping to keep my monthly expenses below $1500 so that I can save the vast majority of my income. This day in age, pooling resources with friends/family, leveraging connections, and taking every opportunity you can is the path to financial independence.

[@jtfoog5220]

Smart man. MIC = job security.

[@jacobac07]

@@jtfoog5220You got the right mindset brotha!

[@28cthedestroyer]

Smart, I'm graduating next spring with a degree in cybersecurity. Keep up the great work

[@TheHigherVoltage]

It's always been like that. Young people have no idea what their parents actually did to get to the positions they're in. It sounds like you've got a good plan though. Best of luck to you!

[@28cthedestroyer]

@TheHigherVoltage you could say the same thing on them having no idea how much harder it takes ro get ahead compared to back them lmaoo

[@shopece8807]

I am at an almost 87k salary, 36 y/o and barely feel middle class. I barely go out (I have fun it's just usually INSIDE), 90% of the time cook my own food (including being my own barista 90% of the time too) etc etc etc but I live in a high COL city/area. I don't think i'll feel comfortably middle until at least about 120k and again I do NOT live extravagantly at all.

[@Gwenavere]

This is what it really breaks down to: talking only in averages stops making sense after a certain point. My high five figure income would put me comfortably in the top 20% of earners in the area I grew up in, but at best it's average for single earners in the VHCOL area where I now live. For public sector employees in my area (which conveniently have public payscales), it's only around the 25-30th percentile. My friend who makes a similar amount back where I grew up is a homeowner raising two kids on one salary, I wouldn't even consider buying let alone starting a family because a smaller condo than the apartment I rent now would cost me significantly more per month.

[@dianabenavides2913]

Because middle class should not be based on income but on net-worth. A net-worth middle class has a paid for home, zero debt, and a job

[@TheHigherVoltage]

@@dianabenavides2913 I don't think that's ever been middle class. I'm in my 50s. Almost everyone I know my age make 80k-120k a year...and are still carrying a mortgage and still carrying debt. Most of our parents were carrying a mortgage into their late 50s, early 60s...and they were all duel income, middle class nurses, teachers, tradesmen, etc.

[@dianabenavides2913]

@@TheHigherVoltage that is why I personally don't believe in social class based on income you are answering it. For example, a teacher with high income or a nurse that has mortgage, school loans, credit card debt appears to be middle class but he is broke. In my household we make way less than that and have a paid for home no debt, and no student loans.... Under the American way of measuring middle class we are poor yet our net worth is much higher and yet we vacation all over America and Mexico yet our household makes half of what you are saying

[@dianabenavides2913]

@@TheHigherVoltage if you make 200k a year and have debt of 500k you are broke.

[@AmericanWears]

74k may be middle class in some areas. In mine it’s more like 130k+ to afford a home and raise a family.

[@ostfrallen97]

that´s sick. In pretty much anywhere in Europe you are wealthy with that kind of a sallory per year. An CEO of a Smaller company make´s abount 100-170k $ per year, atlest in sweden.

[@octopuz9999]

Yes Americans live on other planet.

[@DoubleDragon5180]

@@octopuz9999’Nope, just different than you guys. We all suffer in someway

[@AssetAddict]

I never thought my monthly bills for a family of four would be $18k a month. That's just the basics. But I do drive a $1,300 luxury SUV and wife has one as well. Healthcare cost is $2100 every month. I'm self employed and make good money.

[@societykrew]

It also needs to be net lol

[@flipevent]

I think the argument is more on "being able to afford a house" = middle class. I'm legitimately thinking that middle class people cannot afford to buy a house any more. And, there's just as strong an argument for "middle class SHOULDN'T aim to buy a house any more", given the absurd prices for homes.

[@starspaceschool587]

Just stop buying $400k houses.

[@akam9919]

Being a home owner provides security in the sense that you can't just be evicted one day, and if you want to move, your money isn't exactly just going into someone else's pocket and can be used to at least partially finances for a new home. Plus, people want to be able to have an asset that gains value that they can pass on to their kids. Such is a normal desire for most humans throughout history. That being said, I totally get what you're talking about with the prices. I ALMOST* hope for a correction of some sort. *Who really wants a market crash or MORE inflation.

[@ericeandco]

In New England good luck finding even a small round down house for under $550k.

[@gypsyislandgal1118]

@@starspaceschool587 a townhouse in my area is 450-500. Can’t even afford a 1car garage townhouse. I’m projects poor with my $45k a year job.

[@KJ-od8wq]

@@gypsyislandgal1118 Maybe consider something that isn’t beachfront property.

[@jonfe.darontos]

"...leaves you with 900 bucks, this is no savings, no investments...", except "The take home after taxes, 401k, health insurance is $4,300". Is a 401k not considered savings or investments anymore?

[@ashfordj81]

No, not in the way Caleb and other financial planners talk about savings, because you generally aren't going to use the 401(k) as emergency savings. "Savings" in this case is cash oh hand (in bank) to keep from dipping into the 401(k) or pulling out credit cards to cover unbudgeted costs. 401(k) is retirement savings.

[@C_91]

74k used to be really good and impressive. Now it's just as hard to make but isn't enough to keep you afloat.

[@Dividend_Info]

If you use it right you can achieve something

[@Duran762]

If youre single like me its pretty good

[@istvanpraha]

I remember even here in NYC, my goal was 70K in 2010! Not that long ago. Inflation has been insane and ironically, consistently higher than, you know, the inflation rate

[@Matthew_Murray]

Middle class is kind of a meaningless metric to use because it has no strict definition. I know a lot of people who would kill to make $74k a year. Also the expenses he use seem greatly over estimated, but even using his numbers, honestly sounds like a pretty decent life for someone in their 20s got everything covered and a decent chunk left over for saving to buy a home by the time they turn 30

[@crzycolchris]

I was gonna say... what else is life? you live to pay for things nowadays.. i guess the only thing would be the house. but as long as you can pay your bills thats gotta be enough right?

[@jacksputrid]

100 percent. This is the “I don’t have an iPhone I’m poor generation” his numbers were outrageous.

[@davida730]

I equate middle class to being able to afford an average home. Right now $74k a year can't do that in any major city that I know of.

[@cheery-hex]

no kidding. many ppl would kill to have $650 disposable income per month

[@nicholastartaglia4276]

middle class is a metric used to divide the working class even more 74k a year even in nyc is perfectly doable unless you're trying to live a life you can't afford. I made it work at 65k with 1.1k rent and was saving 500 a month a few years ago. That being said, a lot of people are finding it harder and harder to live that make low wages. It is much worse for them. 74k isn't close to those struggling. "120k is the new middle class" is downright unhinged lol

[@ryangray600]

Bro you missed the point. You can live off 74k… it’s just 74k is no longer middle class. You’re not buying a house saving/investing, and taking a vacation.

[@mcgruff0972]

When does middle class mean you need to split a rental to save money up for a house or drive a used car or have to cook at home regularly. Middle class is supposed to mean I don’t have to stress over everything to pay my bills and save money.

[@Username_CC_]

Middle class means mindless consumption. Neat definition. Learning to budget has nothing to do with class.

[@watuwantt]

That’s exactly what middle class always has been.

[@loganroca]

that’s just not true. Advertising wants to make you think that but it’s not true

[@dianabenavides2913]

You are defining the term middle class based on income and not on net-worth. Net-worth middle class would be better. In my own experience I define middle class as someone with zero debt of any kind with a paid for home. That is true middle class

[@dianabenavides2913]

Someone with zero debt and a paid for home making 78 k can easily sustain himself plus a family

[@carrybigspeaksoft1758]

It only I save my $20 a week allowance when I was five years old, I would be able to enjoy the American dream.

[@hayder-f4c]

That's why they call it the American dream, because you have to be asleep to believe it

[@restandrelaxation4039]

Should’ve had a Ramsy budget! 😂

[@aaronc5818]

If you got $20 a week at five yo you were a spoiled little kid!!!

[@DarkestKnightshade]

​@@aaronc5818 if they would save the entire thing and not spend it they probably wouldn't be spoiled 😅

[@eddiekulp1241]

I got 25 cents , but was 60 years ago .that bought a coke , ice cream sandwich , and a fist full of candy

[@TheSterlingArcher16]

Graham’s response is that with discipline and careful spending you can *survive* on $74k. I think that misses the point however. When people picture middle class, they think owning your home, a new vehicle once or twice, covering family expenses, occasionally eating out, saving for retirement & a family vacation every other year. That’s harder than ever to manage. You realistically need a married couple EACH earning at least that $74k (in a lower cost of living area) to come close to achieving those middle class metrics.

[@limbeboy7]

Hence the $120k needed in the video to buy a house

[@ph8077]

LOL "survive". I earn a bit more than that & I've just bought a $115k car & a $21k watch outright with cash & have zero debt except my mortgage. Granted, I missed Gen Z by half a dozen years but the victimhood hyperbole is ridiculous.

[@Alex-cw1ph]

​@@ph8077"I missed Gen Z by half a dozen years" that's it. Different economy. You sound like a boomer comparing easy street to hell itself. 😂

[@TheRealSteveMay]

Correct.

[@djangomarine6658]

​@@Alex-cw1phI don't think you get it. Y'all want it all right now, in your 20s. Yes, that's unrealistic unless you're making a lot of money. I'm about ph8077's age, and in a similar situation, but life just got good a few years ago. My 20s and most of my 30s sucked as well. The Boomer's economy is long gone and isn't come back. Things didn't just change. Basically no one's been able to buy a house by themselves in their 20s without parental help since the great recession. Where do you think "hustle culture" came from? Welcome to the club.

[@jirkasimecek792]

Me laughing in despair because the Americans are complaining more with home prices 5x of yearly salary than people here in the Czech Republic with 15x…

[@Aiolosz]

laughs in hungarian (actually crying)

[@sandorvas3954]

@@Aiolosz yeah, that yearly salary is actually more than what pairlament representatives get over here.

[@istvanpraha]

I lived in the Czech Rep for years, and on the other hand,I liked renting there way more than in USA. Czech cheap rentals are way more liveable than the lower 1/2 of American apartments. Non-luxury in USA = mice, trash in streets, horrible loud neighbors, cheap buildings with things like thin walls where you hear every neighbor. Also Czech people are better behaved so it's easier to live in a "bad" area than in USA. In USA it will mean street parties, trash in street, fights in street, fireworks in street, etc.

[@jeffdorris5321]

I agree 74k is not middle class. When you have student loans and pay for daycare to watch your kids while you are at work.

[@GrahamStephan]

Yeah, Daycare can be insanely expensive!

[@Kinetic754]

Kids are a choice

[@dobber43]

​@@Kinetic754exactly if you weren't in the financial place for them you shouldn't have done it

[@navyseal4000]

​@@Kinetic754A choice that must happen if we want any hope of continuing social security in the future, lol.

[@TheSterlingArcher16]

@@Kinetic754kids are a quintessential part of middle class life.

[@nickpotgiesser6956]

Graham. I work in Physical Therapy. I started at 60k a year. 20 years later, I make just under 70k and have only received raises through promotion. Pay raises do not happen in this field. Cost of living is drowning our field.

[@GrahamStephan]

Yikes!

[@GrahamStephan]

Which area?

[@BryJovi17]

You've only increased your pay by 16.67% over TWENTY YEARS?! Versus inflation you're basically making LESS money today than when you started! I would strongly suggest that you demonstrate that you're willing to leave the company you're with and take employment with a competitor. Get a job offer on the table from a competitor and then use that to get your current employer to increase your salary otherwise you walk. Important - when interviewing for your competitor, say that you're earning 10% more than what you're earning currently (I.e. say 77k, not 70k) and that you'd be happy if they could match it.

[@nickd2296]

Yikes, You might want to consider a career change. Then again it might be too late for that.

[@bradhaines3142]

@@nickd2296 never too late, especially if it makes you happier

[@skylerriddagh6451]

Me watching this video with my 40k/year job.

[@skylerriddagh6451]

@@charlescalkins3485 honestly though. I picked up a job working 84 hours a week trying to buy a house in the city I live in and it’s damn near impossible unless I want live in a half out together house in neighborhood known for shooting each other.

[@kylesizemore2751]

If you make 74k a year and you don't have kids or dependents and you can't figure out how to save 1.5-2k a month you're just stupid. Room mates, side hustles, used cars payed in cash with less insurance costs, no fun (sorry you have to be an adult sometimes), cook you're own food and stop doordashing literally every single day. Boom all of a sudden your student loan is gone on just 2-3 years of suffering and you can start getting a retirement fund. The idea that it's impossible to live at 50k and save the rest is the most entitled sentiment I've ever heard. You don't deserve to be happy, go figure it out.

[@3900Class]

It's frustrating to me to be working for nearly 10 years, thinking I'm making the best choices for my circumstances, only for buying power to be cut while home availability goes down, and prices go up. I just turned 29 and feel like I've made almost no progress. I do have moments that feel hopeless. But I still go to work every day, and have a second job. Plus I've only been working full time since 2019.. Maybe I'm too hard on myself, but inevitable comparisons with underlying envy can really send me on an emotional roller coaster. Sigh. I'll keep going.

[@enigmathegrayman2953]

Let go of expectations and just live, especially if you watch too many KZbin channels involving finance! The world might be falling but it doesn’t necessarily mean your world individually is falling. Keep going!

[@Dividend_Info]

You are only 29. You have a lot of time in front of you to sl make something remarkable

[@thedarkgreenvanman]

I’m the same age and have been working since 16. We are screwed bro

[@TheHigherVoltage]

Why haven't you made any progress? How much are you saving every week?

[@jacobg8640]

I just turned 26. At 24 I started working with the plan to have a 20% down payment by this point since I didn't move out. I stuck to the plan and have the nominal amount I forecasted, yet it isn't 20% anymore. I'll also need more than 20% or the mortgage principal, especially with these interest rates, will be too high for me to make payments if I want to save for retirement.

[@YaBoiShrimpDuck]

Private student loans are not accounted for in that $300-$500. My government loans are ~$30,000 but my private loans are ~$70,000. Govt. ~ $300/month but my private loans ~ $800/month. I don't know anyone who graduated college with $30,000 or less of debt. Edit: I have a 4-Year Bachelor's degree at a public college.

[@dayjonbartley3145]

Agreed, especially with the significant increasing cost of college. I’m a sophomore and I’m already in 10k debt from private loans and 15k in federal loans

[@InfiniteTony]

I have an associates that I earned from my community college and $0 in debt. :)

[@YaBoiShrimpDuck]

@@InfiniteTony that’s great! I guess I should have specified “people I know ‘personally’”. There are times I wish I would have went to a trade school instead.

[@InfiniteTony]

@@YaBoiShrimpDuck What field is your degree in? Is it IT-related?

[@YaBoiShrimpDuck]

@@InfiniteTony electrical engineering, we had a good bit of computer programming mixed in there but no real IT training

[@ojyochan]

People used to get married and didn't have student debt.

[@limbeboy7]

And buy houses, and have multiple kids.... That's impossible today with 70k

[@df6231]

@@limbeboy7but if you get married and they also make 74k then you’re sitting at 148k pre tax which means you can afford a house

[@ericeandco]

Student loans used to be worth it. You’d graduate, get a good job in something you were interested in and make a good salary right away. It’s not like that anymore.

[@namm1on]

@@df6231that’s if u get with a woman who doesn’t follow what social media tells you what modern woman should be lol

[@NukSooAL]

@@ericeandco the problem is too many people go to college nowadays and It’s just not for everybody.

[@canny8228]

I see a lot of comments saying things like "if I have to budget every dollar then that's not middle class..." As someone who has been middle class since the 1970's I would say that you don't seem to understand middle class. I've budgeted my whole life.

[@keith4826]

Absolutely right. It has always been a struggle. Worked more than one job or worked overtime all the time. I didn’t take a “ vacation “ until I was over 40. Had older cars so I could turn my own wrenches. When I finally could buy a home the yard was just dirt and I did all the landscaping myself to save money. My last job was Union but it was physically hard. They would hire a hundred new people every year to try and keep the staffing levels good. People would quit all the time. Starting wages were low but eventually got better. When I retired from that job it was even worse… people now can’t finish a week at a job I kept for decades. But yeah … we had it easy 🤔

[@triplekmafia4932]

as someone who's been middle class since the summer of 69, I've never had to budget. I couldn't pour money down the toilet of course, but I could spend it freely as long as I wasn't being a fool. This is the middle class. The middle class is not the lower class (but with a tiny bit more money)... You are just lower class pretending to be middle clas.

[@justinbara5748]

@@keith4826 Hate to tell you, But you’re not middle class then.

[@willoe55]

Theres a difference between budgeting and budgeting every dollar.

[@keith4826]

@@justinbara5748 there was always a roof over our heads and food on our table. Clothes on our backs. Call it what ever you like.

[@sneakysnake2866]

The wealth disparity is shocking at this time. Wages need to go up for the lower working class. I work in a field where hard working people with many years of experience only make 35k to 40k. I make a good salary over 100k, but even with my income, I am having trouble buying a house during this market. I can't imagine how nearly impossible it must be for combined household incomes of only 70k to 100k.

[@malcomreynolds4103]

if they are making 35-40 long term, sorry they aren't hard working. a highschool graduate can make that at mcdonalds now

[@manionaustin]

My dad is 62 and makes 93 a year and complains about how it’s not enough. His only real obligation is a truck payment

[@kekef3620]

Crazy considering he was around during the good days. Gosh, this whole life sucks.

[@Brainwashedgoat]

He must be bad with money

[@manny2562]

I made 58k after taxes living in Oregon and I am able to put a thousand a month into savings. Learn how to save and spend. Don’t live beyond your means.

[@madweazl]

Nah, the man is keeping me down!

[@Dividend_Info]

Congrats to you. Everyone must learn how to live with what they already have

[@brianadams6204]

@@madweazl Maybe the man in the mirror is what you mean.

[@Raven-777-]

$1000 saved a month is a joke, you need to wake up.

[@ddk4664]

😊

[@marianhof9755]

Try living on $24,000. A year paying $12,000. of that for rent and ask yourself why Seniors are ignored.

[@MVPTC]

Best thing I ever did was NOT BUY A CAR off the lot… I don’t have the extra $500 of payments for the car payment and ridiculous insurance

[@GrahamStephan]

Well done! Cars are so insanely expensive depending on what you buy

[@MVPTC]

@@GrahamStephan I was able to save twice as fast and the car I bought for $2500 bucks back in 2018 is still going strong

[@Black_Jesus3005]

@@ShapeshifterOSnot much different than a new car if you had a reputable mechanic look at it before buying

[@MVPTC]

@@ShapeshifterOS I take it in for oil changes and any routine stuff. I’ve probably put an extra 2k into it but that’s basically only 400 per year not per month 😂

[@MVPTC]

@@ShapeshifterOS I also work from home now so that helps a ton! Haven’t been putting much wear and tear on it.

[@cowdash]

This is why I'm living with my parents. Idc what people say, it's only way I can save money.

[@maddmethod5880]

reeeaallllyyy missing the point here. His numbers were to reflect what a _middle class_ person is/spends on. Youre budgeting for the bare minimum.

[@aguy2608]

Typical graham makes his math work by fudging all the numbers. If you are going to cut everything of course the math is going to work.

[@Brainwashedgoat]

​@aguy2608 that's how budgeting and living within your means works. That's why you broke

[@WealthEngineering]

It has stopped being middle class 5yrs at least in Canada. And in Toronto, that was 8yrs ago. At this salary it's basically paycheck to paycheck lifestyle guarantee

[@starspaceschool587]

Stop spending so much then. Also it’s pretty much dead on in the middle.

[@turbochoupette]

In 2018, 97900$/year was putting you on the top 10% in canada. If you consider yourself "poor" with 74000$, I am not sure it's an income problem.

[@Euphorica]

​@@turbochoupette you're not poor ,but you are basically just surviving . That's not middle class

[@Dividend_Info]

​@@turbochoupetteCanata and Toronto are different things

[@Dividend_Info]

​@@Euphoricajust surviving is the worst thing

[@Alexis132.]

Blcktken300 is sparking intrigue. Let's unpack its potential!

[@monkeyboy7969]

All my high school friends went to college and ran up big debts. They all call me a loser because I went to trade school now I have a great job making 175,000 a year a house a great car lots of money and a good 401K. Who's the loser Now?

[@marianreye3115]

The wisest thought that is in everyone's minds today is to invest in different income flows that do not depend on the government, especially with the current economic crisis around the world. This is still a good time to invest and trade in gold, stock and digital currencies. C. Kevin insights and charts are productive.

[@marianreye3115]

his twltterr

[@marianreye3115]

cischketrade

[@CarlPoppe557]

It is amazing how accurate his market analysis is and how well and patiently he is with beginners.

[@HeatherLawrence35]

You are actually the fourth person that have spoke great about this stra tegy, I think I will try it out.

[@thiagomiyagushiku9386]

When you have the appropriate strategy, you can trade successfully.

[@tylersucher8653]

Man, I wish I had $74,000! That be fantastic! That be like a 30-40 percent increase for me

[@ADobbin1]

They are right. middle class starts around 100k today. Where I live it costs around 300 a month for gas. What it really comes down to is making whatever sacrifices are needed to get by. People aren't used to thinking that way because they "deserve" the lifestyle they currently have. Most people are going to start out their adult lives under 40k.

[@jsebby2284]

No it doesn't lol

[@denpepp4342]

I was a machinist making $70,000-$80,000 for 20years until 3yrs ago. I changed jobs, now I make a little more. A skilled trade is not middle class anymore...THAT'S SAD 😢😢😢😢😢😢😢😢😢😢😢😢😢

[@thinshadow551]

What job did you go into?

[@istvanpraha]

I followed the "learn to code" trend in the 2010s and was doing really well but salaries have stagnated while costs have skyrocketed way about the inflation rate (who the heck is calculating that thing, BTW). I feel like I'm falling to the lower end of the middle class, despite making a "good" salary (note, few people make those "big tech" salaries). I'm in that place where I am taxed to death but can barely afford a mediocre house.

[@xbiker321]

Yes you can survive on 74k but middle class usually means starting a family, starter house, car, etc. You can't do that on 74k

[@unvaccinatedamerican9620]

Facts. In San Diego, CA, a beat up home in the hood is still like $500K. A decent home in a decent neighborhood is like $800K+ 💀

[@AdamG20]

@@unvaccinatedamerican9620 that don't move there

[@TheHigherVoltage]

@@unvaccinatedamerican9620 Median house price for suburbs surrounding San Diego is about $250,000.

[@Ripside2]

@@TheHigherVoltage This a dirty LIE. Please people go online and try to find a "HOUSE" under 400k in San Diego area and post the URL.

[@Imbataurenuk]

with a 5% intrest rate on a used car lol most people are looking at like 9-12% interest

[@MichaelRoberts9000]

I think you can argue the numbers all you want but no one wants to talk about what the "standard" should be. For a majority of us history (up until the 80s) middle class was homeownership without trying to hard. No for most Americans it's not impossible but your working your but off for years just to get a starter home. Every year it gets worse, eventually the system has to break.

[@HearThatNoah]

I feel the student loan thing is weird, since I know that while my federal loan payment is only around 270, the parent plus loan payment that I agreed to is roughly 980, meaning my student loan payment comes out to around 1250ish a month. I think it's an understatement to say that people are only paying 300 a month with loans.

[@lijohnyoutube101]

Holy crap how does a person be that dumb with money? That is INSANE! 1250 a month towards debt!!!! Where on earth were the actual adults in your life??? Yikes!

[@kekef3620]

​@@lijohnyoutube101It's the adults in their life that told them to take out the loans and that they would have no problem paying back because their future job would pay tons of money. I really feel like people purposely act like it wasn't the adults who pressured 17, 18 yo to go to college in the 1st place. They are not stupid, they trusted their parents/ adults in their life would steer them in the right direction.

[@lijohnyoutube101]

@@kekef3620 then they had some absolutely stupid adults around them and were an idiot for doing no research of their own. How do we have so many who made such beyond stupid decisions with money. How do you get to 18 and this doesn’t scream--absolutely NOT!

[@DEO777]

FACT: The average "broke" tiktoker that complains about not being able to afford anything makes their video while sitting in a luxury SUV with leather seats and sun roof, has dyed blonde hair and fancy fake nails and lashes.

[@tannernorton3263]

Pay off your debt people, use the extra money to get rid of your student loan debt, credit card debt, and car payment first. Then look at a house

[@ericeandco]

That’s what they’re trying to do. How about the government takes less and they can pay their own bills instead of someone else’s.

[@Thezors]

@@ericeandcoThis! I make 69K in NJ and bring home about 46k after mandatory deductions and taxes.

[@jaysonanderson7303]

That's what I did. Then bought and paid a house off. It took 12 years.

[@pipz420]

Have no debt but rent is so high I cant even save for a down payment and without the 20% down the mortgage insurance kills me. I live in an area that desperately needs rent control

[@AdamG20]

@@jaysonanderson7303 me as well took me 14 years

[@2011blueman]

Reality check. I have an income over $180,000 and I have a lower standard of living than my parents had when I was a kid. If I had two kids like my parents I would never even consider going to Disney World like my parents did when we were kids because those same resorts are simply unaffordable now.

[@LawrenceTimme]

Have you considered your parents life was an artificially high standard from all the borrowing and screwing over future generations?

[@DoomFinger511]

Why stay at a resort? Get an AirBnB nearby and just pay for the Disney World Ticket

[@watuwantt]

Your parents didn’t have all the items and subscriptions that are regarded as necessities.

[@2011blueman]

@@LawrenceTimme I assume you're talking about government borrowing, in which case there is no correlation.

[@RespecttheZ]

@@watuwantt yeah if you save $15 a month for a whole year that's almost $25,000 in savings

[@werunguns]

1:05 $600 a month on food?!? Is this person the hulk?

[@TheWoodshedTV]

I think if you are settling for the cheapest possible option for all of these costs, it means you aren’t middle class. So the other video was spot on

[@LawrenceTimme]

How were they the cheapest options? Are you a smooth brain? They were decent options for someone who is 25, you don't start at the average! The average working age is mid 40's so you shouldn't have an average car and an average house until then.....

[@marthaprice3448]

This seems more like unrealistic expectations to me. My husband, with just a high school degree worked in the trades making 50K per year with me being disabled and only having 1100/mo to our income. In two years while cutting out frivolous wants, we saved up more than enough to buy a less expensive house, We went from paying $1,500 per month in rent to paying $700 mortgage that includes homeowners insurance and property taxes. It isn't our dream home or final home, but it feels great living in our own home, having much more to save up and buy some things we couldn't before. Also in owning our home every payment we make, we are building equity in our home and it's really made a difference in being able to handle inflation. We are very happy with our decision and motivated to save for a better home in a few years. Just my opinion.

[@Dividend_Info]

I also think that if you make your budget better and you can buy a cheaper house. With time you can upgrade if it's needed or just invest for your future

[@Dave-yw2wc]

Tell him to work in a prison. No one wants to work there so unlimited overtime. It's how I make 150k+ a year with just a high school diploma.

[@-a6833]

300 dollars a month on dates? Did I hear that right..? Those aren't middle class spendings, they never have been... Those are spendings of people that are financially irresponsible

[@TTBTechResumes]

I make $80k in Los Angeles and a 1bed/1bath are averaging $2k/month. That's basically half of my monthly salary. I have a car payment, buying organic groceries, a son, and drive Uber Eats and Instacart just to keep my head above water. It's rough out here.

[@unvaccinatedamerican9620]

Facts

[@jsebby2284]

There's no way you're paying 40% taxes on an 80K income. What's your car payment? Why are you only buying organic groceries?

[@josephclements2145]

​@@jsebby2284He already said he's living in LA.

[@jsebby2284]

@@josephclements2145 I'm not sure if you're making a sarcastic stereotype or if that's an honest answer haha

[@waveofbubble2194]

@@jsebby2284because organic food is not as full of sugar and as unhealthy and processed, if you need to compromise your health then you are not in a good financial position

[@Mrjohnnymoo1]

The point still stands though.... The man is saying that 74k isn't middle class anymore, not that it isn't livable. You're describing living like a college kid in order to save enough money to buy a house on 74k dollars! Roomating, cutting down on either grocery volume or quality, cutting down on cellphone plans. As far as the cars go, every single one of them had 100k+ miles, and several are notoriously unreliable like that X5, which is known for having repair bills that are more than the car costs. You aren't getting those things financed for 60 months no money down... The fact of the matter is 74k dollars isn't a solid middle class wage anymore if you HAVE to do this things to contribute enough into your retirement... This is ridiculously tone deaf...

[@jsebby2284]

74K is middle class though so the point doesn't stand

[@Mrjohnnymoo1]

@@jsebby2284 it’s middle class purely because upper class people making more than 74k is claiming it’s middle class… Tell me when,”Middle class” is forced to roommate, and can’t afford to drive anything with less than 100k miles just to have money for savings…

[@jsebby2284]

@Mrjohnnymoo1 no it's middle class because the income is middle class. They aren't forced to do that. And middle class people have had roommates and used cars forever

[@25Soupy]

I used to watch videos like that and use every excuse to believe I can't save money then I just decided one day I was fed up with being fed up, cut my expenses and started saving. I went from believing it was impossible to live off anything less than $5,000 a month. Now I live off $1,700 a month. If I can do it anyone can.

[@TheRealSteveMay]

Are you supporting a family as the sole earner? Do you own a home or do you rent?

[@josha.bdoge2]

Do you live in an expensive city with a High Cost of Living??? No...Well don't go patting yourself on the back just yet!

[@dannybillstyle]

Rent is going up to $1,825 looks like I’m done for

[@austinwells678]

You need to do the math on that one for me. $1700 is coming close to the average rent for most, $300-500 for a car and insurance, 500+ for food. It aint adding up.

[@zobola19]

I would say 100 dollars a month for a phone bill is realistic because while the cost of the actual service itself (internet, calling, etc) may be 40-50 dollars.. a lot of people don’t pay for their phone out right and have to pay it back in monthly installments that typically accrue interest as well. Not saying it’s the smartest move if you can avoid it, BUT for a lot of people it’s the situation they are in.

[@TheRealSteveMay]

If you cant support a family of five on a single income in an area that reflects the median housing cost, you are below middle class. There is no reason millennial/gen z Americans should accept a cost/compensation paradigm that their grandparents weren't subject to. The ratio of productivity/compensation should return to pre 1971 levels. Until that happens, the complaining is valid.

[@hesterprynne5965]

Are you serious??? Times have changed and that is reality. And even then those generations had their own issues that this generation doesn't (Vietnam War/draft, racial segregation/prejudice, etc.). Pretending and hoping that time goes backwards is not productive.

[@TheRealSteveMay]

@@hesterprynne5965 From 1979 to 2022, productivity has increased by 64.7% while compensation has increased by 14.8%. That is not okay. (Source: Economic Policy Institute.) Prior to 1971, productivity and pay increased in parallel to each other, which is healthy and correct. I'm simply saying that we need to work towards achieving the parity between productivity and compensation that previous generations enjoyed. The policies that have caused us to diverge from that trajectory are economically, and culturally corrosive. We need to fix what was broken, not accept it.

[@TheHigherVoltage]

@@TheRealSteveMay Reagan and the GOP started the decimation of the middle class and it's only gaining speed. Want to know where your money went the last few years? Check out all the new billionaires.

[@DamonNeal]

It definitely isn't. When I made 100k I was able to afford to live and have a modest vacation once a year, but that's about it, so 74k isn't even close to middle class l anymore

[@Dividend_Info]

My dream is to make 100k a year

[@kekef3620]

100k would be life changing for me. But its also apparent it doesn't go as far as it use to.

[@schaeffergoods]

I think you’re using the “most people who buy homes are couples” wrong. Single people would buy more homes if they were more affordable.

[@jrm250]

...everyone would buy more homes if they were more affordable, the ratio of married/single wouldn't change much. A duel income household will always have more buying power than an equivalent single income household.

[@uhohhotdog]

You’re assuming people are having a roommate. If you need a roommate to afford a home you’re not middle class.

[@10leomessi]

Did you not see the statistic where single home owners have always been in the minority? Most new home buyers have always been more than one person.

[@uhohhotdog]

@@10leomessi who cares

[@10leomessi]

@@uhohhotdog lol ok

[@natereeves2807]

I'm a single Zillenial man in a medium sized city, I spend about 1/2 of what that guy's video said people typically spend. The problem Gen Z has is that they don't know how to spend money in a smart way. Things are harder for us then it was for boomers, but people make it harder than it needs to be.

[@michaelhutchinson2854]

Grahams cat doesn’t meow it just says “better than I deserve” constantly…..

[@CherokeeMaxx]

that and also "WHAT? Are you FREAKIN STUPID?! What you should do is BEG that sales manager to TAKE IT BACK"

[@Courtney-Alice-Gargani]

Making $75,000 is not really that much now. A lot of people can barely survive with this income

[@bassdeff8819]

I'm 46 years old and I agree with Gen Z. 74k a year is barely middle class these days. Middle class is not just about wages, it's about the lifestyle you can afford with said wages. Middle class lifestyle doesn't really start until you hit 100K.

[@rdw1968]

The 401k is a retirement savings. A single, reasonable person can do very well on $75,000 a year.

[@asongfromunderthefloorboards]

Maybe in a small Midwestern town. Not in a city.

[@grantlawrence4600]

@@asongfromunderthefloorboards That's usually something they can change by moving to a much lower cost of living location. Not all professions/jobs will allow for this. But many will. For most people, there is little reason to being living in an extremely high cost of living city.

[@asongfromunderthefloorboards]

@@grantlawrence4600 Yes, not all jobs are remote. People do still need to do physical work sometimes, not just write emails. If everyone fled cities to live in small towns, the prices in those small towns would skyrocket. We saw this during the pandemic. People live in or near cities not only because there are things to do and people but because jobs pay more. In fact, even companies like Google that allowed people to work remote, decided to slash pay for people who moved to cheaper areas. So no, everyone can't just abandon the cities and turn all small towns into suburban developments to save money. It wouldn't.

[@shadowstalker130666]

Sounds to me like they need to lower their standards some. I made $72k this year, and ive never felt so well off. They should try scraping by on $35k a year. Then talk to me about being broke.

[@InDatParish]

Well that’s easy. A 25 year old doesn’t “need” to buy a $400,000 house

[@GrahamStephan]

Problem solved!

[@Dividend_Info]

But they do

[@malcomreynolds4103]

@@Dividend_Info they in no uncertain terms, do not.

[@artisinalbread4378]

My car payment is $650, insurance $250/month, $55k in student debt, I make about $130k/year, and I’m not taking nearly the amount home proportionally to my salary. Take home is like $65k after State, Federal, Social Security, Medicare, and all of the other bullshit programs I don’t want to pay for.

[@AdamG20]

American passport will get you to 188 countries

[@SuzanneU]

You will want these programs one day! You may well NEED these insurance programs one day.

[@austinwells678]

@@SuzanneU Why is it always this talking point? I don't need the government to be my safety net, the return on investment of those taxes are horrendous. If one was able to put them into an account like a 401k, but for health care, it would be worth astronomically more.

[@AdamG20]

@@austinwells678 only the poor depend on the government

[@brianadams6204]

So you are saying you bought a car you couldn't afford.

[@user-hd8ej8yx9p]

The new generation is conflating middle class with upper class. Going to university for hundreds of thousands of dollars is a rich person thing. Owning a big house is a rich person thing. Having more than one car is a rich person thing…. STOP THE CONFLATION

[@xiphoid2011]

I'm a first gen immigrant Asian American. I find so many, if not most, Americans are terriblely wastful on their spending and personal finance. It's almost hard for us to fathom. Complaining about $74k/yr is not middle class is such a first world problem. 😅

[@Aztecian_prick]

I was thinking this! Im american and i notice most people live beyond their means

[@MaXiMoS54]

Yeah plenty of americans overpay for a car and use credit cards for random things

[@calprowe]

$500/month groceries and $750/month auto for a single person is just silly. Sounds like most people are just bad at cutting costs and making smart financial decisions

[@svan3878]

If you have (not want) to live with a roommate you are not middle class.

[@weekendhomeprojects]

The first step in not being poor, is don't be poor.

[@ScottDreyfus]

600$ won’t feed you for month in most markets which is crazy. Hell out power bill went from 185 to 357 in one year and we’re using 25% less power. Private companies speculating single family homes is going to bankrupt the middle again. It’s not the market , it’s not the economy , it’s the second wave greed of the housing market. This is going to be far worse than the 08 crash. They aren’t even building affordable housing anymore. People are going to have to live together cause you can’t do it on your own at current costs.

[@deadcell1]

As a single person, $600/month is enough for most people so as long you're aren't eating out more than twice a month or unless you live a Metropolitan area.

[@mg6192]

then move out of San Francisco to somewhere cheaper.

[@malcomreynolds4103]

there is nowhere in the country that 600 dollars a month wont feed a person.

[@deadcell1]

@@malcomreynolds4103 You can make a struggle meal for $1, with $600 it'll carry you for a month. It's not healthy but it'll feed you for a month

[@ScottDreyfus]

@@malcomreynolds4103 fill your cart up with 600$ for the entire month and let me know when you get hungry. I just went yesterday and it was well over 200 just to get some essentials . I’m sorry but you guys are either trolling or you’re delusional about what you spend money on. You obviously don’t go to the grocery store or eat anything that’s real food. That’s fine though. You’ll see prices aren’t coming down anytime soon in fact probably never again because all these companies are making record profits at the same time. That’s all for the greater good … pay more get less. There’s not even a rational comment to say otherwise. Everything is more expensive than three years ago.

[@Kastrenzo74]

bro. $400 car payment, and thats USD. Even if thats monthly, stop leasing Jaguars and Hellcats, Stop buying F150s with $10,000 in add-ons.

[@johnadams5694]

50k Salary here, $400 a month on food and $100 on fun is my allowance. $750 on housing since I split rent. The numbers in the video are very inflated. If I made 74k a year, I would be able to save and invest so much money!

[@pigeon_master_8561]

i think that it highly depends on where you live. if you live in a big city like NY or LA, 74k is not enought to live comfortably. if you live in a less expensive state, in a more rural area, 74k are more than enough for middle class.

[@SF-bh7rd]

@@pigeon_master_8561So move 🤡 "You don't understand! I can't just leave LA!" Yes you can

[@grantlawrence4600]

Most of it depends on where these people are living. The fact that they live in these EXTREMELY expensive areas and complain (while not having considered moving elsewhere) is pretty telling. People driving these cars with INSANE monthly costs. It's ludicrous. They are living well beyond their means. People are also notoriously horrible at estimating what they spend in a month. A LOT of unnecessary purchases are made. 50k (even 40) is very doable for a single person in many areas in the country. Many clearly make it work with less than that.

[@scottolson5498]

How are you able to spend so little on food. Food is more than my mortgage. lol I live in Canada though we’re a small container of raspberries is 15$

[@grantlawrence4600]

@@scottolson5498 I don't envy you living in Canada. Dystopian nightmare.

[@JimastaJ]

If you’re a single man 74k is alright. I was making that and I was chilling. Now I’m unemployed and living with pops. Hated my job and now I’m deciding to learn remote skills. Cost of living is cheaper overseas. It makes the most since in the long run. Why pay $1800 for an apartment in California instead of $500 for an apartment in Brazil. Trying to get a remote job is worth it.

[@mitchkiernan7724]

$74,000 a year for a single person isn't bad because you don't need a car loan buy car cash. Get a cheaper phone plan and also insurance you have a vehicle cash get less coverage. Good lord a single person does not need to spend $600 a month on food. There you go just saved you almost a $1,000 a month. Don't go into consumer Debt I understand Student Loans but other debt besides a Mortgage should be avoided.

[@Maximilliann]

I think the nuance of this all is what we consider middle class. In my mind I picture a 2 story house a car a wife a kid and money to have fun retire and save for a Rainey day. To accomplish that you’d at least need 120k per year and your wife making 40-50k cause middle class shouldn’t be about penny pitching just to “survive” that’s called being broke. Which there’s nothing wrong with but the middle class has essentially vanished.

[@starspaceschool587]

You can easily do it on $50k. It’s all about priorities if you want eating out, new car, student loans, vacation, endless gadgets then don’t complain when you can’t afford a house you chose to put other things first.

[@chesspwn7457]

And that middle class lifestyle you're imagining was reached by people in their later 30s or 40s. After spending 15-20 years being frugal to get to that point. That's how it was and is achievable on middle class salaries. The reason the middle class is vanishing is because people are more wasteful with their money now, and try to live established lives right out the gate of being an adult.

[@TheHigherVoltage]

Middle class has ALWAYS been about penny pinching.

[@Maximilliann]

@@TheHigherVoltage than that’s not being middle class that’s called being broke… I will stand by that. If you can’t afford to do as you wish with in reason you aren’t middle class you’re broke

[@Maximilliann]

Let me make it clear, there’s nothing wrong with being broke either. If you’re happy you’re happy. But if you want something in life go get it. Don’t have enough money at the end of the month? Forgive out how to make more money. Get a second job sell some possessions. Start a side hustle. The problem isn’t how much things cost sometimes it’s how much you make. The best way to fix that problem is make more money. Work more ask for a raise something. But being broke and penny pinching shouldn’t be the only option in your mind. Not saying it’s easy to make more money but it’s not impossible

[@B_More30]

I love how all these TikTok comparisons to the median and "American Dream" think someone in their 20's should be entitled to skip ahead to the median. You should struggle in your twenties, you should get some negative bank balances to feel that sting and pain. Nobody comes out of college in their 20's and buys a median house. you rent or you buy a cheap house. The "American Dream" is a DREAM...its what you dream of having after putting in the work.

[@dcbryant1]

The difference between his math and graham's math is he is doing gen z math. Genz expects to be rich off the start. They believe that you shouldn't have to struggle at the start.

[@mikerotchburns42069]

You missed the point of the video. 75k shouldn’t have you struggling, it should be considered middle class.

[@1VeryModestMouse]

​@@mikerotchburns42069why it's just an arbitrary number.

[@Firebert79TA]

@@mikerotchburns42069 Coasting carefree with so much money that you don't need to budget is unrealistic. That approach will blow through 150k just as quickly with just as little gratitude.

[@peterpiper1439]

TLDR; 74k a month is enough to get you a middle class life style in a flyover state, and you only go to work and back each day. Oh also most states average salary is less than 50k (based on Zip Recruiter, could be BS)

[@malcomreynolds4103]

No, its enough just about everywhere

[@loganthemachine7841]

I’m so grateful to have KZbin videos of rich guys telling us poor folk how we can save more money.

[@JEREMY99218]

I live in the SF Bay Area where the middle of "middle class" is about $150,000 while I'm from Idaho where middle class ranges from $42,000 to 125,000 for a couple. In SF anything under $82,000 is considered low-income. In some of the surrounding Silicon Valley communties anything under $125,000 is considered low income.

[@rudistorm3348]

Great point. I live in Michigan and I know people who make 40K a year and have nice modest 1000 sg ft homes.

[@leonadams1053]

Move. Your future self will thank you

[@epi2045]

I lived in SF 20 years ago and $125K then was peanuts.

[@Chris190e]

LOL, crying about being able to afford a nice house, brand new car, and latest phone and still having money left over, all while being fresh out of school? In what world is this a bad thing? The quality of life for people nowadays is SO MUCH HIGHER than it was a decade ago. People want middle-class status with no middle-class values... Secure a relationship, get a used car, cook at home, and get a good value phone, and you easily have 3-4k to play with each month to invest at this wage, allowing you enough time to save for kids. Stop trying to show off to others; you don't 'deserve' the latest phone, car, and nice house; work and save for it like everyone. Also.. newsflash, coming out of school, you are working-class... you need to work to get into the middle class unless your parents are financially educated.

[@ji-wonseong1623]

This is beyond depressing. If I worked a job at 25/hr, I still can't survive. Rent is 2k alone...once you add up all the insurance costs, car repairs, bills, it's not enough to survive in Washington state.

[@malcomreynolds4103]

If rent is 2k and you cant afford it, you need to look for a different apartment

[@timschultes6467]

Part of the problem is everyone just has to have a really expensive car in their early twenties. Get a cheap used car and save that 600$ a month car payment. You can have the nice car later.

[@plain2655]

Exactly. People spend like they are upper class and then wonder where the money goes.

[@BlitzkriegOmega]

Used cars aren't cheap anymore. Thank Covid and the microchip shortage for that. Unless you literally pull your ride out of a scrapyard, you're looking at minimum a $20,000 vehicle that may or may not have compounding costs due to high mileage and wear-and-tear.

[@BigHeadClan]

@riegOmega 100% bought my car in 2014 for 14K @70K miles, it had nearly 110K miles on it by the time the COVID shortage hit and it was worth nearly 20K. Prices have come down a fair bit after that but the used market is a total mess still and I can still sell my car more or less what I paid for it in 2015 and she's at nearly 130K miles now. Not to mention even if you find a 10-15 year old rust bucket for like 2K it probably needs another 3-5K worth of work by that point because its falling apart or will leave you stranded potentially costing you a job.

[@haydenmacfarlane7194]

If a 2 bedroom apartment is $2400 (1200 per person) you are tremendously overspending on housing, move 10 minutes outside downtown and that should be at most 2/3 if not half the price. I can empathize with the feeling the middle class line is getting pushed up but you’ve gotta take responsibility for your own spending. If you are even remotely responsible with your money 74k is plenty

[@humpteedumptee8629]

If your math requires a roommate you’re not middle class. The problem is no one wants to be labeled poor or working class. And middle class has always been mislabeled to make people feel better. Middle class means you are living above the working class as a small business owner or high end employee. Someone making enough to not live paycheck to paycheck. But not quite enough to have f u money and financial independence. Sorry 50k and a sub division was never middle class. What’s happening is upper working class is eroding into lower working poor.

[@postmodgent1499]

yep, skilled and professional salaried employees are being relegated to working class lifestyle.

[@LawrenceTimme]

At 25 it is middle class. You can't expect to be average at 25. 🙄

[@Anything.is.Possible]

I think gen Z doesn’t understand the word sacrifice. Their parents and grandparents both sacrificed years to build a foundation. 75k is a lot of money even for a family of five. I’m from Ohio and I don’t know many people who make more that 75k a year. It’s not how much you make but how you spend it. 😊

[@NickAndTech]

I don't agree with the basic premise that most 20-somethings should be buying a home. Live with your parents if you can, at least until your student loan debt is paid off. Otherwise live with roommates until you have several years of work and life experience beyond college and then decide if you even want to settle where you live. I'm resigned to the fact that I won't ever buy a house in the SF Bay Area where I'm from, but I don't even want to. Long term I'll be living in Europe where I'm already well-established. If someone isn't willing to move abroad for a better lifestyle then they have the entire gigantic USA to choose from, without the hassle of language or major cultural barriers.

[@thelifewithnate]

That's amazing! Agreed, although with my international background, I never saw myself buying a home anyway. I'm constantly shifting places every couple of years so renting makes more sense to me. Europe is a grand place, especially if you are already established. Different pros and cons of living there compared to here in the States! Cheers!

[@lucaschua8773]

Gen Z I think is the most susceptible to lifestyle creep. We’re so focused on what we see online and our online persona that we sacrifice our future in the process. Do you need a new luxury car? No. Do you need to eat out everyday? No do you need to go to Starbucks and buy coffee? No. But Gen Z chooses to pursue these things because that’s what society and social media shows us.

[@ciscoshibler3214]

That guy is exaggerating for views. I only made 45k last year and we live comfortably and have plenty left over every week. Is all about where your money is going. If half your money goes to debt payments and wasting money eating out, no duh you will never get ahead lol. It takes sacrifice for a short time so you can get ahead. My advise is eat at home, buy a cheap reliable car and don't be buying the newest tech.

[@ciscoshibler3214]

Disclaimer... I do live in the Midwest... Which admittedly helps a lot

[@Dividend_Info]

I'm with you. If you are thinking before buying you will be ok

[@shopece8807]

you need to lead with that (where you live). that's a HUGE/ENORMOUS factor.

[@ciscoshibler3214]

@@shopece8807 yeah I probably should have lol.

[@ciscoshibler3214]

@@shopece8807 the point still remains though. You have to live a frugal lifestyle if you want to get ahead.