-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

3 ай бұрын

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

3 ай бұрын

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

@darius9513

3 ай бұрын

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

3 ай бұрын

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.

@sarahfletcher01

3 ай бұрын

*I am fortunate I made productive decisions that changed my life forever through my finance-mentor. I'm a single parent living in Bn Italy, bought my 2nd house in January and hoping to retire at 54 by next year.*

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

@chimchu3232

3 ай бұрын

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.

@chasemoray425

3 ай бұрын

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

@angeluceta5688

3 ай бұрын

​@@chasemoray425 exactly.alot of people just open up their bank account to the entire world to pick at it lol

@jackattackhissnack

3 ай бұрын

​@@chasemoray425lowering 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

3 ай бұрын

​@@chasemoray425 middle class should be able to afford a small basic house at minimum or even a condo.

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

@TheSnappyo

3 ай бұрын

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

3 ай бұрын

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

3 ай бұрын

​​@@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

3 ай бұрын

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

@djangomarine6658

3 ай бұрын

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

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

2 ай бұрын

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

Ай бұрын

@@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

Ай бұрын

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

Ай бұрын

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 KZread/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

Ай бұрын

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

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

@lijohnyoutube101

3 ай бұрын

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

3 ай бұрын

@@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

3 ай бұрын

@@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

3 ай бұрын

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

@lijohnyoutube101

3 ай бұрын

@@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.

One HUGE issue is that those “starter homes” don’t really exist anymore. All the older homes with “good bones” were flipped 10 years ago thanks to chip and Joanna making it popular. And now, with construction costs going up, builders just aren’t building $300k homes anymore. It only costs them a little more in materials to make a “luxury” home and charge 20-30% more to make profit. I could afford a $280k-$320k house, but those don’t exist unless you want to buy a home needing repairs. Buying a home and owning a home are not the same thing.

@crzycolchris

3 ай бұрын

Yupp this what I've noticed.. and it gets deeper than that.. You were taught your whole life absolute dog sh*t in school.. I may know the distance between the earth the mars because i was made to. but I cant fix sh*t in my house. So buying a house that needs repairs is a nightmare for young people that dont know how to repair anything.. I work in IT yay.. I "went to school" yay... I cant freaking fix my own siding so I have to pay some highschool dropout thousands of dollars to do it! cursed from the start.

@TheHigherVoltage

3 ай бұрын

What's stopping you from buying a $400k-$500k home and renting out the basement for a few years?

@godlikemachine645

3 ай бұрын

Location is also extremely important. Housing is really cheap here in the Rust Belt. You can buy a very nice house for 100k.

@Nikotromus

3 ай бұрын

If a builder decides to build a starter home neighborhood, Black Rock will come in and buy every house in the neighborhood and turn it into rentals. You are correct. Starter homes do not exist now. By design. You will own nothing and eat bugs.

@kylesizemore2751

3 ай бұрын

Location is everything but you just need to think outside the box. I bought a townhouse in a suburb for old people that you could pick up today for 240k. I only needed to put 15k into it to fix it up between toilets, water heater, new tile floors, and an electric panel. I did this with money I saved working at a grocery store. Getting the house you want is impossible but getting A house is not.

As a 25 year old software engineer with a bachelor's degree making just under $74k per year, I can confirm that I definitely don't feel like the middle class. The only reason I feel comfortable is because my rent is only $600 a month. I will say though, his estimate of 4300 a month is actually high. I make $1850 bi-weekly after 401k contribution and I'm on my dad's health insurance. That's about $4000 flat a month

@lizmartin4555

3 ай бұрын

My take home at 75k was barely 4k BEFORE 401k. His hypothetical person must not pay state taxes and have very cheap health insurance.

@joed5419

3 ай бұрын

Yeah but you get two months of the year where you get an extra check since there are 26 pay periods in a year and not 24. That will add a bit to your monthly average.

@austinmaiden4663

3 ай бұрын

@@joed5419 yeah, that's why I said $4000 a month instead of $3700

@joshuamartinez470

3 ай бұрын

I’m 24 and make $70k. After all expenses (including $1800 for housing and utilities, and $757 car payment), I save $1,500 a month not even including 15% contributions to 401k.

@Pixel_Po27

3 ай бұрын

Yea the numbers are inflated. At $80k, take home after taxes and health insurance is $4400. I only live comfortably since rent is low for me as well at $800.

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

@LuisRojas-mz2mg

2 ай бұрын

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

@hottamaledancer

2 ай бұрын

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

@destroya3303

2 ай бұрын

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

@rubixpuzzlechamp

Ай бұрын

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

@malcomreynolds4103

Ай бұрын

@@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.

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

@thelifewithnate

3 ай бұрын

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

3 ай бұрын

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

@jsebby2284

3 ай бұрын

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

@jsebby2284

3 ай бұрын

@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

3 ай бұрын

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

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

3 ай бұрын

THIS

@Username_CC_

3 ай бұрын

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

@jsebby2284

3 ай бұрын

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

@TheHigherVoltage

3 ай бұрын

When was that?

@waveofbubble2194

3 ай бұрын

exactly

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

@drumyogi9281

2 ай бұрын

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

2 ай бұрын

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

Ай бұрын

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

Ай бұрын

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

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

Ай бұрын

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.

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

3 ай бұрын

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

@Lane_online

3 ай бұрын

​@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

3 ай бұрын

@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

3 ай бұрын

@@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

3 ай бұрын

@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.

I personally don’t like the idea that you still need a roommate or partner to make it. This was not my vision of being an adult. No sense of accomplishment

@brittney3156

3 ай бұрын

Thank you - same! I did that without complaining all through my 20's. I'm in my 30's and in a great career now. I shouldn't need to do this forever.

@enterthenameyo

3 ай бұрын

???

@LawrenceTimme

3 ай бұрын

Disagree. If you want to live as a degenerate individual forever then that's bad for the country and community as a whole. It is selfish. We should look to superior asian cultures where families stick around and look after eachother instead of everyone trying to do whatever they want for themselves all the time. That's why there are so many people moaning about daycare costs on these comments too.

@austinwells678

3 ай бұрын

​@@LawrenceTimme Least insane youtuber alert... Living with family is not equitable with finding a guy off of craigs list so you can afford a basic lively hood.

@TheHigherVoltage

3 ай бұрын

You have a fantasy idea of what it takes to be an adult.

Reality is that a lot of people make $17-$19 an hour working at a restaurant or warehouse. $70k is borderline best case scenario.

@Dividend_Info

3 ай бұрын

The lifestyle of younger people is based on social media and it's expensive to try everything that you see there

@kevinv91

3 ай бұрын

Also in the security guard industry.

@Djsjechel

3 ай бұрын

Yep. I live in northern Wisconsin. Around here, most people make anywhere from $17-$23 an hour unless you’re a nurse, doctor, lawyer, software engineer, etc…And most people around here work in either a factory or warehouse.

@DivinityAwakened

3 ай бұрын

Perfect example of why education is so important. Low skill jobs like warehouses just don't pay enough to live a good life, and it shouldn't. Moving a box from A to B isn't a contribution that is deserving of the sweet life.

@abdielneris4957

3 ай бұрын

@@DivinityAwakened the word "shouldn't" is subjective b/c for many years a basic job was enough to provide for a family. It just shows how much the economy in the U.S. has changed.

You’re high as a kite if you think a bank will give a five year loan for a 13 year old car with over 100k miles lmao

@SF-bh7rd

3 ай бұрын

You're high as a kite if you would sign for a loan on a car.

@specialagentorange4329

3 ай бұрын

Buy used. Keep us with maintenance. Don't go into debt!

@futureflavors205

3 ай бұрын

​@@specialagentorange4329 Ok boomer

@specialagentorange4329

3 ай бұрын

@@futureflavors205 if you want what boomers have then listen

@Krobra91

3 ай бұрын

@@specialagentorange4329what boomers have isnt what anyone else can have today. used cars are just as expensive, and nowadays are are more complicated and require more maintenance. gone are the days where you can self teach how to repair things, thats why congress is debating the right to repair act as about 95% of all technology today is something you are unable to repair yourself.

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

@guymontag5084

3 ай бұрын

The reality is that working during college is not worth it. The vast majority of people I knew who dropped out either had a mental break or tried to work. I didn't and finished my degree then got a job making over 3x what I made as a student. I'm sorry the medicaid thing happened but avoiding loans is not inherently responsible, what is responsible is maximizing your income long term which often involves taking loans and prioritizing things over appearing responsible to working class relatives.

@bills2843

3 ай бұрын

@@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

Ай бұрын

Thanks Obamacare! Loving that "hope and change."

I'm 30, make 40k a year. I'm Broke with bills paid with no kids. I will never be able to afford the "American dream" just survival with those fleeting moments of happiness to keep me going through the years to look back on. My belief is somethings going to break. How is this sustainable for the distant future? Can someone do a chart showing if we continue down this road what the economy would look like in 2050? what would it would look like if the median wage is 200k but then a three bed two bath costs 8.9 million and a gallon of milk costs 56$.

@LawrenceTimme

3 ай бұрын

Why wait for something to break? Improve you income. Nobody cares or will do anything about it other than you.

@crzycolchris

3 ай бұрын

Something will change eventually... i mean the 40 hour work week hasn't even been around for 100 years... people in 1846 would be lost in todays world. They didn't go to the store to buy a gallone of milk. Things will definently change.. but the scary/exciting part is how?

@leakedclipsdaily

3 ай бұрын

Only technology will make our lives easier. The people at the top only have bad intentions to make our lives worse.

@bigl2328

3 ай бұрын

Nothing will break because people like you do nothing but sit and wait. What has sitting and waiting done for you so far? Ah right, you already explained it in your comment. Now take that and multiply it by however many years more until you are dead. There’s your whole life projection and the words that would be written on your stone, “Waited for something to break but never came”.

@grandmasterb7398

3 ай бұрын

You dont need a chart because no one can accurately predict the future. Just study the past. There is no guessing. Those events have already happened. Ever heard of the phrase, "get rich or die tryin"? You either evolve or die. You either take risks trading in the markets or risk building your own business. A 9-5 is a 100% guarantee of working until death or inflation eats you alive at a young age leaving you homeless.

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

@mikethepokemaster2012

3 ай бұрын

Sounds like the guy living brove his means lol

@lockedoutofaccount

3 ай бұрын

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

@Phatnaru0002

2 ай бұрын

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

Ай бұрын

​@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

Ай бұрын

@@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.

I live single comfortably at $75k but there is no way I could do that with a family.

@Droxen222

2 ай бұрын

...Where do you live?! You paying 4k+ a month on rent? otherwise this comment just screams "i'm bad with money"...

@barcotics1880

Ай бұрын

the state should force you to house a migrant, hail it be to the state

@MissTiffee619

Ай бұрын

I do to. And I live alone in NYC. But I lucked into a good rental situation.

@tancreddehauteville764

Ай бұрын

That's why your wife would need to work - at least part time.

@ryangray600

Ай бұрын

@@Droxen222he literally said he lives comfortably

"...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

Ай бұрын

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.

As an individual it's great. For a family it's poverty. And families are the lifeblood of civilization.

@rudistorm3348

3 ай бұрын

Did you watch the video? We are talking single income not families.

@Dividend_Info

3 ай бұрын

If the two of you are earning $74k it's easier Most costs stay the same

@austinwells678

3 ай бұрын

@@Dividend_Info Day care will eat up one of those salaries in a heart beat, if Americans can't have families than our future is in dire hands

@brianadams6204

3 ай бұрын

@@austinwells678 It's not that they can't It's just they need to wait till they are financially ready that means learn to budget and not try to keep up with the Jone's. Stop all this crying and put some effort into it.

@darkriku12

3 ай бұрын

​@@brianadams6204sure, just ignore the growth rates of every service and product a family needs and just pay attention to budgeting. Completely ignoring the problem and pretending it doesn't exist.

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

3 ай бұрын

Smart man. MIC = job security.

@jacobac07

3 ай бұрын

@@jtfoog5220You got the right mindset brotha!

@28cthedestroyer

3 ай бұрын

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

@TheHigherVoltage

3 ай бұрын

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

3 ай бұрын

@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

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

3 ай бұрын

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

3 ай бұрын

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

3 ай бұрын

@@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

3 ай бұрын

@@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

3 ай бұрын

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

I make $70k a year and my wife makes $36k a year and we're completely debt free and paid our house off last October. We also live in a very rural area where cost of living isn't that high. Income alone doesn't mean anything, it's your income compared to the cost of living in the area you're at. a household income of $106k goes a lot further in a rural area than it does in a big city.

@pigeon_master_8561

3 ай бұрын

this is a really good point. 100k in LA is like 40k in oklahoma. the numbers in this video only apply to dense urban areas.

@Oncipian

3 ай бұрын

Keep in mind how most people live in these city areas though.

@drunclecookie216

3 ай бұрын

@@Oncipian it's insane. I don't understand why anyone would want to live in a city. despite being so expensive, there's also so much crime and the people are really rude and nasty to each other. I had to live in the city in my college days and I absolutely hated it. I even heard gunshots at night

@lando5053

3 ай бұрын

@@drunclecookie216I am living in Utah currently, and our average home price is over 500k. I’m being forced to choose between living near my family and home ownership.

@drunclecookie216

3 ай бұрын

@@lando5053 yikes. home prices average $150k where I'm at. My house is only worth $102k today

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

@ostfrallen97

3 ай бұрын

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

3 ай бұрын

Yes Americans live on other planet.

@DoubleDragon5180

3 ай бұрын

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

@AssetAddict

3 ай бұрын

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

3 ай бұрын

It also needs to be net lol

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

3 ай бұрын

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

3 ай бұрын

​@@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

3 ай бұрын

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

@jsebby2284

3 ай бұрын

Says who?

@stefanbstreet8634

3 ай бұрын

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

For my situation personally, $74k would be a great salary for me. My husband and I live below our means. I'm making $15-20k under what my salary is to be in my field, but am working on changing that.

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

2 ай бұрын

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

2 ай бұрын

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

2 ай бұрын

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

@willoe55

Ай бұрын

Theres a difference between budgeting and budgeting every dollar.

@keith4826

Ай бұрын

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

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

3 ай бұрын

If you use it right you can achieve something

@SeudXe

3 ай бұрын

If youre single like me its pretty good

@charlescalkins3485

3 ай бұрын

Sounds pretty impressive to me. I'd love to be able to make that.

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

3 ай бұрын

Just stop buying $400k houses.

@akam9919

3 ай бұрын

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

3 ай бұрын

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

@gypsyislandgal1118

3 ай бұрын

@@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

3 ай бұрын

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

As a person who works selling cars on average within 800 credit score for used car the best we're seeing for interest rate is right around 7.8%. now many gen z are first time buyers but where I was at in Montana first time buyer interest rate loans were at 28% and in Wyoming where I'm currently working it's 21% would easily put your payment at $400

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.

In my area $80k jobs are RARE. A friend and his wife combined make 80 or 90k and they just bought a house

@Dividend_Info

3 ай бұрын

What is the price of the house

@okieg8960

3 ай бұрын

@@Dividend_Info as in they pay a $1500 a month mortgage

@user-us6pj2jw1h

3 ай бұрын

Where is this??

@captianzanzey

3 ай бұрын

Price of the house was about 250k, they got nearly 80k off because it was a family friend, and it was in indiana

@thisisdafunk

3 ай бұрын

Get out of there! Go build your skills and a life in a decent balanced city with opportunity.

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

3 ай бұрын

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

3 ай бұрын

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

@davida730

3 ай бұрын

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

3 ай бұрын

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

@nicholastartaglia4276

3 ай бұрын

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

thank you for showing us ramsey!

Thank you for the advice G. Your videos give me hope to one day make my dream come true. Buy a home for my family. I'll let you know when I do 😅🤙

If you need to budget so aggressively to live comfortably at $74k, it isn't middle class.

@Propraj

3 ай бұрын

You don’t need to budget aggressively and neither did he said so. He just continuously gave solutions to budget even more but the guy in the TikTok video was already exaggerating everything. For a family yes this not middle class but for single it’s great

@Username_CC_

3 ай бұрын

Budgeting is a skill and being middle class doesnt me spending without thinking about where its going. That is mindless consumption.

@Neerdowellofyesteryear

3 ай бұрын

budget aggressively? what? 74k is a good income for a family. All your needs are taken care of and you can do small things but it's a good income. This generation is greedy. They put all their value into materialistic things which shows they have no depth.

@itsvmmc

3 ай бұрын

It's not budgeting agressively, it's living how a lot of people in the world outside of your bubble are living. It would be fun if Americans tried to survive on a poor country budget.

@Mayhzon

3 ай бұрын

@@itsvmmc Doesn't have to be a poor country. Can be literally anything outside of the US. I will say this, though. Americans do have a lot of extra long-term expenses we Europoors don't. Mostly because our stuff is already taken as a deductable before we even have a chance to look at the money. lololol

I'm not saying I disagree with you, Graham, but I believe most of the finance/investing people that are criticizing this notion are also conflating what "working class" is and what "middle class" is. For Gen X and those older, "middle class" was typically positioned as a single income family where median metrics were "comfortably" attainable (hence the connection between median and middle). At ~$75k, that just simply isn't the case anymore.

@GrahamStephan

3 ай бұрын

Fair enough!

@starspaceschool587

3 ай бұрын

If the median income isn’t middle class then what is?

@josha.bdoge2

3 ай бұрын

Well said Graham is out of his mind.....The Richer he has become the more out of touch he is with the common man.....I am sure the boot kissers will disagree

@GavinSwick

3 ай бұрын

@@starspaceschool587 A socioeconomic construct isn't pegged to the fluctuating nature of the variables, but the totality of the variables can fall within the subset of the construct. As an exaggerated hypothetical: If someone's income is $150k but they have $800k of medical debt and can't afford anything more than a studio apartment and a bus pass, then their standard of living would be so low due to crippling debt that they wouldn't possibly be anything other than "poor." They might have a middle class income, but they won't have a middle class life. To answer your question with a question: what is your personal definition of middle class? When you establish that definition, you build out from there. I believe most people born prior to ~1985 would instinctively answer that "middle class" is the ability to safely provide for a family of four on a single income. We can go debate all day what "safely" might mean but in all likelihood that would be something in the vicinity of: a near-median house, one above median vehicle and one below median vehicle, minimal debt outside of major items like home and vehicle loans, and adequate savings to be able to weather temporary economic storms. American society may have shifted that instinctive answer with Millennials (and younger) to some degree, but that can speak more to economic expectations than anything. Median income is a single metric and nothing more. The sad truth of the matter is that the median metrics of the US population are not within the range of what the middle class ideal was/is.

@KJ-od8wq

3 ай бұрын

@@josha.bdoge2 “Graham make munee but mee stil poor, he must b bootliker 😡”

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

3 ай бұрын

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

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

3 ай бұрын

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

3 ай бұрын

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

@YaBoiShrimpDuck

3 ай бұрын

@@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

3 ай бұрын

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

@YaBoiShrimpDuck

3 ай бұрын

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

It's wild how much area matters. I'm making 27k annual and can afford my car and a two bedroom apartment while saving $500 a month for retirement. Area and lifestyle are huge. In this same area, my buddy is getting 60-70k but claims to be living paycheck to paycheck because he gets most meals $40+, bought the newest and second highest trim car he could, and blows money on just about anything he sees. Income gap is a serious concern, but so is responsibility. It's tough to feel sympathy for that friend saying he's strapped when he comes home with "high end fashion" junk and these crazy meals and is dropping hundreds of dollars on game apps, regularly. Again, though, I get that living is only getting more expensive, inflation has been disgusting, and I'm lucky to be in a lower cost area, as opposed to some friends who moved to the west coast and spend five times as much just on rent.

@LHSHarmon

3 ай бұрын

Where do you like where 27k is you salary and can live? Most people I know annual rents would be more than your salary?

@Dividend_Info

3 ай бұрын

Their lifestyle is scaring me nut that are the people that are driving the economy

@SureBuddy

3 ай бұрын

@@LHSHarmon Indiana. Average rent is around 800 in my city, but there are a lot of solid places for cheaper. For an average single bedroom, you could be looking closer to $500-600. I don't live in the boonies either. I'm not Indianapolis but I'm not some country road place, either. We're a good split in the middle. Low crime rate. Mid sized population. Then if you want to do a roommate for a bigger living space or whatever, I've shared with one other in a two bed and with two other in a three and the split dropped us to around $300 per person. I think the three was $350 just because it had huge rooms. We had a rent spike that looked pretty nasty, a year or so ago, where everything looked like it would be $1200 starting, but they normalized, thankfully.

@SureBuddy

3 ай бұрын

It also feels worth noting my budget groceries to hit a full day costs me about $88 a month and my splurge is still only $150 a month to get higher grade burgers or whatever else I feel like mixing in. It always blows my mind how much people spend on food.

@Makenaessman

3 ай бұрын

Damn. I’ve recently been looking at houses in the Midwest and seeing how cheap they are compared to where I live. I live in Texas and the houses I look at are $100,000-$200,000 cheaper in the Midwest. I am heavily considering moving to the Midwest because I’m just trying to live my best life and be financially independent. Definitely giving me more hope on being a homeowner before or when im 30 after seeing those prices.

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

@user-xv5ls5mp9l

3 ай бұрын

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

@restandrelaxation4039

3 ай бұрын

Should’ve had a Ramsy budget! 😂

@aaronc5818

3 ай бұрын

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

@DarkestKnightshade

3 ай бұрын

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

@eddiekulp1241

2 ай бұрын

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

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.

8:41 thanks for sharing that tweet, that's honestly eye-opening

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_

3 ай бұрын

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

@watuwantt

3 ай бұрын

That’s exactly what middle class always has been.

@loganroca

3 ай бұрын

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

@dianabenavides2913

3 ай бұрын

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

3 ай бұрын

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

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

3 ай бұрын

Yikes!

@GrahamStephan

3 ай бұрын

Which area?

@BryJovi17

3 ай бұрын

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

3 ай бұрын

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

@bradhaines3142

3 ай бұрын

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

I really, really Love when you mention Dave Ramsey show !! Makes me feel aligned.

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

3 ай бұрын

laughs in hungarian (actually crying)

@sandorvas3954

2 ай бұрын

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

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

3 ай бұрын

Yeah, Daycare can be insanely expensive!

@Kinetic754

3 ай бұрын

Kids are a choice

@dobber43

3 ай бұрын

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

@navyseal4000

3 ай бұрын

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

@TheSterlingArcher16

3 ай бұрын

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

Me and my fiancé live on 75,000 a year. We both actually make 75,000 apiece. But we are able to live on one income and save the rest completely. We are both 25 years old and own a home

@ericeandco

3 ай бұрын

Excellent!

@Dividend_Info

3 ай бұрын

You know how to budget

@cheery-hex

3 ай бұрын

congrats! you guys are in a great position

@carieyoung1111

3 ай бұрын

You’re decades ahead of others if you keep it up! Great job

@Jedi71

3 ай бұрын

Is that home a tent?

$74,000 is poor in San Francisco $74,000 is rich in Mississippi Depends on where you live.

@Deusstyles

2 ай бұрын

Any salary is poor is SF, because you have to live in SF.

Great video Graham !

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

3 ай бұрын

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

@Dividend_Info

3 ай бұрын

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

@thedarkgreenvanman

3 ай бұрын

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

@TheHigherVoltage

3 ай бұрын

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

@jacobg8640

3 ай бұрын

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.

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

3 ай бұрын

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

@ph8077

3 ай бұрын

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

3 ай бұрын

​@@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

3 ай бұрын

Correct.

@djangomarine6658

3 ай бұрын

​@@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.

Just contacted you on your website. Look forward to hearing from you!

Graham do a video about the term "Middle Class". My husband once said, "It is the ability to engage in what is culturally relevant that is the socio-economic definition of Middle Class". But what we culturally expect people to be able to afford and engage in is TOTALLY different now. So has the Middle class actually gone away or do we just have different expectations? Like if someone buys a house but can barely shop or travel or buy coffee in the morning, we might consider that person house poor.

Just arrived in Las Vegas and this is the first thing to pop up when I took off airplane mode. VEGAS KNOWS!!

@GrahamStephan

3 ай бұрын

BOOM!

@SigmaPr1nc3

3 ай бұрын

Lol 😂 Welcome to Vegas 🎉

@j10001

3 ай бұрын

“Viva Las Vegas! Viva Las Vegas!! VIVA LAS VEGAS!!!” - Travis Kelce 2024 😂😂

70k is a joke in this day and age. If you already bought a home before 2019 and you already had your car purchased as well, either paid off or lower rates, you are a bit better off. But, if you are starting your adult life now and making 70k, unless you are in the middle of nowhere, yeah... you don't make enough.

@b.m.4066

3 ай бұрын

Sounds like you need to move. I make about 30k a year after taxes and bought my house in the fall of 2020 and bought my second house in the summer of 21 and living perfectly comfortably

@pentrubarbati

3 ай бұрын

so entitled

@irocksobad101

3 ай бұрын

​@@b.m.4066bro lives in the middle of nowhere

@kingspeech2240

3 ай бұрын

Bro do you live in New York? How about California ? Maybe Chicago? 74k by yourself is plenty of money especially if you live low. But people who live above their means will always be broke so you trippin brother

@dobber43

3 ай бұрын

​@@irocksobad101yeah cause he's smart what does the city do for you? Cost you more, provide way more temptation to blow ur money, less privacy, less safety, less freedom f that unless u have to live there for a great job move

Great video. Im a huge Blcktken300 fan and love your videos on it.

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

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

@charlescalkins3485

3 ай бұрын

That's what I'm saying. I'm 51 years old and never made over $50,000. When someone tells me they can't make it on $75,000 all I can say is you're doing it wrong.

@skylerriddagh6451

3 ай бұрын

@@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.

@charlescalkins3485

3 ай бұрын

@@skylerriddagh6451 Cost of living is different everywhere you go. All I'm saying is I would love to make $75,000 in one year but I don't think that will ever happen.

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

3 ай бұрын

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

@turbochoupette

3 ай бұрын

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

3 ай бұрын

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

@Dividend_Info

3 ай бұрын

​@@turbochoupetteCanata and Toronto are different things

@Dividend_Info

3 ай бұрын

​@@Euphoricajust surviving is the worst thing

As a German, the initial claim sounds just absurd. I make 4800€ after taxes, Pay about 1300€ fix cost (every monthly payment covert that was listed except saving etc). I am 29 and just bought a condo 50/50 with my gf - cash, which will further reduce my spendings by about 300€

@glowiedetector

3 ай бұрын

reason is they are talking about the us. over there it's pretty insane. 74k per year in Europe is wealthy.

@simonbarker980

3 ай бұрын

It really doesn't matter how much they earn, they're piling on so many things which chip away at their earnings. I'll agree things like housing prices have gotten out of control worldwide but it sounds obnoxiously entitled to expect in your mid 20's to be easily paying for everything including your house and have plenty of spare spending cash every month. You're going to have to sacrifice somewhere if they want all this stuff. Not everyone needs a University degree, maybe don't commit yourself to decades of debt without a proper purpose?

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

3 ай бұрын

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

@BlitzkriegOmega

3 ай бұрын

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

3 ай бұрын

@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.

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

Ай бұрын

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

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

@limbeboy7

3 ай бұрын

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

@df6231

3 ай бұрын

@@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

3 ай бұрын

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

3 ай бұрын

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

@NukSooAL

3 ай бұрын

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

The car situation he shared is definitely high. But not as low as graham would say for everyone. Most people are not getting approved for anywhere near a 5% apr. And a lot of the 12k cars nowadays are packed with miles and have more expensive repairs right around the corner

@bealornobeal5538

3 ай бұрын

Literally had my paid off car break down last year and wasn’t worth it to repair compared to cost of car. Had to buy a used one, 13k at 24% interest because I’m young with no credit. It was the only car I could afford that wasn’t gonna immediately need repairs. Cheap used cars aren’t available/ won’t qualify for a loan.

I love your watch, it is a dream for me to have that specific watch :)

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

3 ай бұрын

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

@MVPTC

3 ай бұрын

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

@ShapeshifterOS

3 ай бұрын

Yeah, but how much extra are you paying in repairs and maintenance?

@Black_Jesus3005

3 ай бұрын

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

@ShapeshifterOS

3 ай бұрын

@@Black_Jesus3005 A used car even in good condition will suffer from ware and tear from previous use. But yes you can save a little by doing that.

I have a couple of GEN-Z coworkers who spend more than $25-30 a day on coffee because not only do they buy from the overpriced franchise, they have Door Dash deliver it to work. We have free coffee at work and a convenience store next door. Overspending on nonsense is a huge problem with this generation.

@LawrenceTimme

3 ай бұрын

Agreed

@crzycolchris

3 ай бұрын

and some overspending is not seen so well.. every other month the price of streaming services go up. So you look at your budget from the beginning of the year and notice your spending has gone up 15 bucks a month on TV alone... and for nothing really besides netflix wanting more profit

@michaelhoogendoorn3179

3 ай бұрын

​​@@crzycolchrisSpending $16/month on a subscription isn't a problem compared to $25/day. Also, things like burgers are now $15. Everything is annoyingly expensive.

@Dividend_Info

3 ай бұрын

Most young people are living that way

@Kinsale101

3 ай бұрын

😂 They learned from the prior generations who over spent and got into a bunch of debt.

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

3 ай бұрын

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

3 ай бұрын

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

@grantlawrence4600

3 ай бұрын

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

2 ай бұрын

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

2 ай бұрын

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

Making 75k per year and bought a $33,000 tacoma. $745 payment $230 insurance and about $120 on gas. If I could go back i probably would have kept the beater I had.

AMS54K to the moooon 🚀. AMS54K will hit 1bn marketcap soon, its volume is insane. Binance or coinbase listing might be soon🎉🎉

@Kobstopper

3 ай бұрын

Can you buy that on Fidelity? I'm not finding it?

@DTFFP

3 ай бұрын

nothing but a pump and dump... why take some "investment" call from a youtube comment lol come on now, don't be foolish. @@Kobstopper

@annieway35

3 ай бұрын

@@Kobstopper Its a spam comment.

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

3 ай бұрын

Nah, the man is keeping me down!

@Dividend_Info

3 ай бұрын

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

@brianadams6204

3 ай бұрын

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

@Raven-777-

3 ай бұрын

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

@ddk4664

3 ай бұрын

😊

Good points Graham. Also, you do not need to buy a house that is "median price" if its your first home. I would expect a first time home buyer to buy below median price. You can say - "oh, but the neighborhood", well fine, maybe you need to continue to rent. I never spent more than $12000 on a car until I was in my 30's and I still have that truck I bought in 2006. Yes, 2006. I;ve driven the same car for 18 years now.

we bought a then-18 year-old used car with 100,000 miles on it for 6000$ in cash in late 2020 and it's working just as well as it did when we bought it. Granted, we did our research beforehand and made sure to find the best bang for our buck (models known for durability). But. we know we got super lucky and we plan to drive it until we no longer can. The craziest part is that its value has actually appreciated by 4,000$ since we bought it (almost doubling in value).

@CovidVirgin

3 ай бұрын

I similarly got a 15 year old car with 80k miles from an elderly woman for 7K cash… So many people in my family kinda make fun of me for being “so stingy” and having a “fugly old Toyota” but idc.. I love not having to worry about payments and expensive maintenance

@adamosmani7228

3 ай бұрын

@@CovidVirginuntil you get into a crash and that 2002 car isn't going to save your life like a 2020 car....

@fantomas1770

2 ай бұрын

@@adamosmani7228 if it's a serious crash then no car will save you, cope

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

3 ай бұрын

What job did you go into?

My income is $114k/year, two kids and a stay at home mom. I have a mortgage, it’s my only debt, and I’m able to invest around $2500/month. Didn’t go to college, so no student debt

@RespecttheZ

3 ай бұрын

lol "software engineer" working from home and streams videogames, maybe you should try getting them knuckles dirty every day and then we can talk.

@glowiedetector

3 ай бұрын

@RespecttheZ someone mad because they can't reach that level? why would he "get them knuckles dirty" if they can choose to not do that?

@EzOddz

3 ай бұрын

@@RespecttheZ maybe you should learn how to code a bit Instead of being salty about it. The industry is fast and rapidly changing that's where the money flows, there's no shame in getting an income from your hobby as well if you love it fucking own it.

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

lol these are always funny 12:16 as he has that car in the background.

Don’t sleep on AMS54K. It’s going parabolic as we speak with LOTS of room to still run with its low market cap

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

Bought my house at 23 a few months ago. I make around 70-75 a year but I live frugally and I have no struggle affording it.

@Rej-gc5zi

3 ай бұрын

Is your house a mobile home?

@RespecttheZ

3 ай бұрын

depends on location. where the deets?

Hi Graham, love your content! What’s the app you used to promote that you could customize what news articles you’d receive?

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

3 ай бұрын

Facts

@jsebby2284

3 ай бұрын

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

3 ай бұрын

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

@jsebby2284

3 ай бұрын

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

@waveofbubble2194

3 ай бұрын

@@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

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

3 ай бұрын

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.

Single income family < 50k salary and some student loan debt, yet was still able to buy a house. Penny pinching for 3-4 years sucked, but now my expenses are somewhat locked in (except a growing family) and I feel more comfortable. If I get a better job, I will live even more comfortably

Just do the podcast once a week and chill you've earned it bro 👌

I tried so hard last year to hit 89k and i still won't be able to buy a house

@ericeandco

3 ай бұрын

Don’t lose faith. It will happen. You never know when a surprise opportunity will pop up.keep saving and minimize expenses where you can.

@northinvestor

3 ай бұрын

That means you haven't enough money saved aside, as a 24 years old single I just bought my first triplex for over 500 000$ with a 60 000$ salary

@Dividend_Info

3 ай бұрын

​@@ericeandcoyes, that's right exactly what I am doing

@Dividend_Info

3 ай бұрын

​@@northinvestorcongrats man 24 years old with a triplex. That's amazing

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

3 ай бұрын

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

3 ай бұрын

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

@jaysonanderson7303

3 ай бұрын

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

@pipz420

3 ай бұрын

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

3 ай бұрын

@@jaysonanderson7303 me as well took me 14 years

@GrahamStephan - I love how over time you transformed into a reporter.

I made $60k in my first job out of college and I was living in expensive Santa Barbara in 2016. Can't do that today, saw the end story during the pandemic and decided to move out of a giant metro area and it was the best decision I made.

He didn’t include car repair, and constant miscellaneous items like toiletries, cleaners etc and all the random stuff that pops up, seasonal clothing, medicine, maybe you have subscriptions to various things:music/Netflix… And there is no way in hell anyone is eating for 102 a month. Even if you just ate rice/beans and a few cheap meats. I cook everyday and it still costs me around $300 at minimum. Inflation killing the middle class and creating a huge wealth divide. I try to invest at least 50 percent of my income in assets to keep up with the money printing.

@starspaceschool587

3 ай бұрын

He also included overestimated everything. For example you can easily get 3000 sqft house for that rent.

@ohhisalmon

3 ай бұрын

maybe where you live 😭my 2x2 condo is 2000/mo @@starspaceschool587

@abdallahalfawaqa4720

3 ай бұрын

It was 102 a week not month

@SuzanneU

3 ай бұрын

Graham never said $102/month for food. He said $450/month, down from the $600 allocated by the doomsayer. My husband and I and our cat do pretty well on $600/month - including toiletries and household cleaners.

This is why people aren’t going to college…. I dropped out before taking on debt, just finished my first year working full time at almost exactly $80k. Saved about about $35k in that year, and with a bit of other savings/investments I had from a gap year, the only thing stopping me from buying a starter home at 23 is not having 2+ years of income. It was scary not knowing my future, but damn am I happy with the decision, and I’m legitimately a decade ahead of many other people financially.

@Makenaessman

3 ай бұрын

I agree. I’m about to get a Bachelor’s in psychology but after looking at my salary ranges I’m deciding to get a certification in networking and then make my way up to cybersecurity. Thankfully I went to community college and paid a lot of my classes out of pocket so my student debt is only $11k but that’s still not great. Can’t go back and change it but I would have just gotten certifications in IT instead of going to college in hindsight.

As an economist, I know your numbers are spot on. Good job.

Now we just need to see the Blcktken300 price also move in the same direction as these charts. Up. Very Up.

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

3 ай бұрын

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

3 ай бұрын

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.

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

3 ай бұрын

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

@DoomFinger511

3 ай бұрын

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

@watuwantt

3 ай бұрын

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

@2011blueman

3 ай бұрын

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

@RespecttheZ

3 ай бұрын

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

The flint/Detroit shout outs are so funny every time. Yeah I get it my area is dying 😂