Priced Out: What the Upper Middle Class Can’t Afford Anymore

It's better for the upper middle class to avoid extravagancy and save all the money they can so they won't have anything to worry about and have peace of mind.💵💰💯

You should all just stay home. 😂

You were not buying a house in the 80’s in Canada. Interest rates were over 17%, and we can not write off mortgage interest on taxes like Americans. And we had to have minimum 10% down & you had to pay a few percent on that to pay for insurance on your mortgage rate to insure your loan FOR THE BANK , till you got your principal above 20%. And you could not have over 30% TOTAL IN DEBTNESS ( includes all debts including mortgage of your net income). Our suburbs grew slower, but rate of foreclosure was moderate & stable. And there was no variable rate mortgage on market for another decade.

We only went out on Real special events. Ie anniversary and such, and seldom bought fast food. Had budget, made things last long time, ie repair & maintain

Most people in the upper middle class dont even notice.

Because they are taught to believe they are upper middle class…

Another great video from Practical Wisdom!

I'm so grateful to GOD that I grew up poor. I learned how to eat before I leave the house. I live in a nice neighborhood. I'm not sure my husband & I are upper middle class but we aren't complaining about the economy. Our parents grew up during the great depression & taught us how to survive on a low income. We travel now & enjoy life. Americans would probably be a lot healthier if we cut out most of the fast foods & get back to fresh fruits & veggies. We also need a good exercise routine!!!

It’s surprising. You'd think if you made it to the upper middle class, you’d be financially set. But with inflation, plus wages that haven’t kept pace, more people are feeling the squeeze. I’ve seen people forced to make tough decisions, like downsizing homes or delaying retirement

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I remember in the fantasy series BILLIONS the husband and wife were confronted in losing their BILLIONS and having to live on a measly $350Millions and that was some time ago.

There are five tiers of middle class
It’s lower three tiers that dropped from middle class especially if they do not have assets that appreciate against inflation (owning one house does not make house an asset) house that earn rental income is an asset (if you have paid off the mortgage)

In my country a bank VP can earn $10 000 plus per month and this does not include four to five months of bonus each year

Our dollar value has been on an increase because my government purchase gold at times