What is middle class
Whether you’re considered middle class most commonly depends on your income. But experts differ on how much you have to earn to fall into this camp. One of the narrowest definitions limits it to those who are literally in the middle fifth of the nation’s income ladder. A wider characterization includes everyone but the poorest 20% and the wealthiest 20%. This more accurately reflects your well being since income doesn’t take into account non cash government benefits, such as food stamps, or savings and can fluctuate greatly from year to year, say proponents of this measure.The consumption measure used by Notre Dame Professor James X. Sullivan includes spending on food, transportation, entertainment, housing and other items. It excludes health care expenses and education, which Sullivan says might be considered investments. Louis Federal Reserve Bank takes a more complicated approach. They combine sociology with economics to define the middle class. Economists there don’t like using annual income because it can vary widely over time.So it look at three demographic characteristics age, education and race that aren’t as volatile and that they say better determine one’s income and wealth accumulation. The middle class is generally made up of people who fit some hermes armband replica
combination of the three. (This is not to say, for instance, that every 45 year old black college grad is middle class.)The Fed describes those doing better than the middle class as thrivers and those doing worse as stragglers. Check out our flow chart below to see who meets this definition of middle class.Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: 2018Morningstar, Inc. Factset: FactSet Research Systems Inc. 2018. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S Dow Jones Indices LLC and have been licensed for use to S Opco, LLC and CNN. Standard Poor and S are registered trademarks of Standard Poor Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices S Dow Jones Indices LLC 2018.