10 Signs you are in the Middle Class - YouTube

A larger majority of the population  may belong to the middle-class,  

and often we hear a lot about America’s shrinking  middle-class, and their impact on the economy.  

They almost seem like robots because some of their  reasoning, as you'll come to find out is similar. 

So, I have a question for you, do you  think you belong in the middle-class? 

Well, here are 10 signs to  counter check those claims.

1. You believe in the American dream Most people admire the American dream,  

and for most not living within  the United States of America,  

the dream is about a land of milk and honey.  Middle-class adults are more than just obsessed  

with the American dream. A great education,  living in a mansion, and driving your dream car.  

The middle-class also fantasizes working their  dream job and becoming very successful at it.  

You’ll come to find that a majority still  have faith in achieving a successful life,  

and even a survey conducted concluded that,  55% of middle-class respondents, said anyone  

can achieve the hallmarks of a successful life,  compared with 48% for the overall population.  

Since the middle-class are among the high earners  of the population, there is a correlation between  

being wealthier and believing in the dream.  For example, home ownership has always been  

a fixture of the American middle-class  life, though after the real estate crash,  

not much can be admirable about the dream, as  most are opting for renting, as a better option.

2. You're slightly more  optimistic about the economy 

When a study was conducted back in 2017,  the middle-class was more optimistic about  

the economy. This comprised of almost 50% of  self-described middle-class Americans. Currently  

the stakes are high, considering the on-going  pandemic, as a majority, if not all of the  

world's economies have been affected. Despite the  lower middle-class facing a harsh step down, more  

are optimistic about better days ahead, and are  making the most out of the situation. Most have  

opted to start side hustles, and some have decided  to expand their business online to stay afloat.

3. A College Education for the Kids Higher education is like a rite of  

passage for the middle-class. This is why you will  find most of them are drowning in student loans,  

which they pay for years to come. All because  of the mentality they were brought up with.  

The grand idea that, to get ahead in  life, you need to have a college degree.  

As you know, tuition fees don't come cheap,  and can cost from the low tens of thousands  

of dollars to hundreds of thousands. Depending  on the type of college too, the price tag could  

be steeper. While a parent’s education level is  not always a contributing factor in determining  

middle-class status, the act of supporting and  saving for a child’s education typically is.  

Many middle-class parents end up saving all they  have towards their children's college education,  

just to ensure a child's success. Although  it’s not always definite that a college degree  

guarantees a successful future, a higher level of  education has long been associated with greater  

earning power. In recent years, more people are  coming to realize that all one needs are skills  

and specialization. As long as you are certified,  it isn’t necessary to spend thousands of dollars,  

as well as years, getting an education  that won't be of value years to come.

4. Where One Shops It may seem silly, but where one shops is often  

an indicator of class status, just like what kind  of car one drives. Look at it this way, do you  

ever imagine bumping into Marc Cuban on your trip  to dollar tree or Target? Even when it comes to  

bulk buying or discount chains, there is usually a  stigma attached to stores. Why anyone would label  

these stores in a classic way beats me however,  the middle-class have certain mannerisms hard to  

ignore. For example, one of the most middle-class  places to shop is Target. They even go the extra  

mile to advertise themselves as such, and are  often viewed as a middle-class answer to Walmart.

Away from household shopping, the  middle-class is big on brand names.  

Clothing stores such as H&M and Zara are  also known to serve more of the middle-class,  

while the upper middle-class and upper class  settle for sustainable clothing. This doesn't  

mean the middle-class doesn't splurge on designer  wear. Quite the contrary, they spend a lot of  

money on extremely expensive designer brands,  just because their favorite celebrities told  

them to. That is why some have fallen into  a debt cycle, they can't seem to get out of.

Mark Zuckerberg belongs in the uber rich  class, yet wears $30 t-shirts. So why does  

someone in the middle-class who doesn't even  earn 1% of his net income need a $800 t-shirt? 

So, before you consider shopping  brand names, go for value first.

And speaking of, if you guys are getting  value from this video, do me a huge favor  

and kindly give this video  a thumbs up. If you did,  

thank you so much for your support,  and now let’s keep learning.

5. Leisure Class Are you always looking forward to the weekend? Do  

you enjoy some Starbucks latte? Then maybe you do  belong in the middle-class. Historically, it was  

only the upper class and perhaps the unemployed  that had time for leisure, as the working class  

and middle-class were completely consumed with  their labor. However, with time, all this changed  

as working hours reduced from 100 hours a week to  about 44 hours a week. This meant that there was  

more time to spare for leisure activities,  and perhaps self-destructive behaviors.  

If you look at most middle-class people, they  are always looking forward to the weekend,  

usually for rest and random escapades. If anyone  knows how to party, it’s the middle-class.  

They have boosted the entertainment industry  due to the adaptation of upcoming trends.  

As mentioned earlier, the middle-class  enjoy luxury. Anything considered fancy  

is something that is most likely to grab their  attention. Even the type of cafe's they frequent,  

in this case Starbucks, are very expensive  and continue to thrive all thanks to the hype.

6. Your household earns  between $50,000 to $125,000 

According to research, half of people  who self-identify as middle-class,  

earn more than $50,000 a year  but less than $125,000 a year.  

However, a majority earn between $50,000 to  $75,000. If you are racking up between $40,000  

to $100,000 in your family, then chances  are you belong in the middle-class. This  

one probably seems obvious, but income is a big  determining factor. However, location matters  

too.The middle-class in one part of the country  may not qualify as middle-class in another,  

as the cost of living may be more expensive in  certain areas. Typically, a median family on the  

east coast earns $85,000 annually, while those  in more rural areas qualify with just $55,000.

7. Tax Burden If you are facing a high tax burden,  

then you are experiencing the plague  that is killing the middle-class.  

A high tax burden can instantly  decrease the size of the middle-class  

by simply eliminating discretionary income. It’s  common for the tax burden of the middle-class to  

be higher, than that placed on the upper  class due to factors such as, regressive  

taxes and the sophisticated tax strategies  available to high net worth individuals.

8. Your parents were middle or lower middle-class 

Not trying to kill your dream of breaking  boundaries, and branching into the upper class,  

but studies conducted show that 70% of adults  who identify themselves as middle-class,  

grew up in households that were either  middle-class or lower middle-class. To  

be exact, about 43% said their parents were  middle-class, while 27% said they grew up with  

lower-middle-class parents. That's not all, some  external factors such as the place you grew up in,  

may have an effect on the chances of your overall  success, due to the availability of opportunities.

Research from the economist Raj Chetty, for one,  indicates that poor children born in certain  

cities, are less likely than their counterparts  to climb the socioeconomic ladder, which could  

be due to issues such as the quality of public  schools, and the strength of local economies.  

As generations come to pass, the  stability of the middle-class varies,  

as some Americans move in and out of  the middle-class within generations.

9. Fear of Missing Out FOMO as they call it, is something  

the middle-class are known for. Ever wondered why  some group of people are always picking up similar  

travel destinations, or owning similar gadgets?  Most of the time, it’s stuff they are hardly  

passionate about, and do or buy just for the sake  of it. This is because the middle-class commonly  

compare themselves to peers, and to the upper  class. FOMO is described as a feeling, that peers  

are doing better in life, can trigger an intense  existential angst known as a fear of missing out.  

As a result, the middle-class ends up  copying each other’s ideas, and behaviors,  

as well as imitating the use of certain products,  services and experiences so that they do not miss  

out. This is why certain trends, gain  popularity within a short span of time.  

In a nutshell, the middle-class is the  perfect lot to sell something trendy.

10. A “good” job If anything, the middle-class is  

obsessed with the idea of a good job. Not only one  that has an attractive salary, but one that offers  

great benefits in the long run. Especially when it  comes to health care and some retirement benefits.  

A full-time job with health and retirement  benefits, has long been considered one of the  

cornerstones of middle-class economic security.  According to the Kaiser Family Foundation, 56%  

of U.S. workers receive health insurance through  their employers. Among all civilian employees,  

27% have access to a pension plan, and 58% have  access to a retirement savings plan such as a  

401(k). Another separate research discovered  that 47% of Americans have these “good jobs”.  

Even if you’re not depending on your  employer’s 401(k) contributions,  

if you’re in the middle-class, you’re more  likely to have a retirement savings plan.

Well, guys those are a couple signs  that you could be in the middle class.  

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With that, said, have a great day  and I’ll see you in the next one.