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So what do you consider rich? How about poor?

There have been so many posts today about the rich vs. the poor. I am curious to know what do people consider rich? I would also like to know what you consider poor?



The average household income in 2007 was $50,233 per year.



This is what is considered poor in the US. The number is family size.



1 $10,400

2 $14,000

3 $17,600

4 $21,200

5 $24,800

6 $28,400

7 $32,000

Answer Question
 
Magpie75

Asked by Magpie75 at 1:56 AM on Feb. 27, 2009 in Politics & Current Events

Level 1 (0 Credits)
Answers (20)
  • It will vary from city to city really. In Cali 80k won't allow you to afford a decent home and live well. In Kansas you can buy a nice home and live well. In Kansas if you made 40k you would be fine. In Cali you would need assistance and still probably would struggle.
    Anonymous

    Answer by Anonymous at 1:59 AM on Feb. 27, 2009

  • i consider rich...when u can buy anything you want and not think twice about it...and poor when you arent eating 3 times a day (dont have a choice)...and cant pay your bills...and your children go without
    JuLiAnSmOmMy317

    Answer by JuLiAnSmOmMy317 at 2:04 AM on Feb. 27, 2009

  • I know it varies from place to place, what I posted was the national averages.
    Magpie75

    Answer by Magpie75 at 2:04 AM on Feb. 27, 2009

  • I agree with Juliansmommy.
    Aviators_Wife

    Answer by Aviators_Wife at 2:06 AM on Feb. 27, 2009

  • in my area, "rich" to me would be 6 figures or anything near that. It would afford a home in one of the nice neighborhoods, a decent new car, and the usual luxuries.

    "poor" would be anyone who can't afford the basic necessities on their own. In our area, a very frugal family of 3 could survive on about $20,000 yearly income (but that's FRUGAL- renting a cheap place rather than buying a home, not eating out, conserving fuel and utilities, etc)
    wallylicious

    Answer by wallylicious at 2:08 AM on Feb. 27, 2009

  • Well if you are looking for national averages then I think what you posted above is pretty accurate, even though like the first anon said it does greatly vary for place to place in where you live, even though I dont think her figures are spot on, because we live in cali and only my DF works and makes just over $40,000 a year and while we are not rich and cannot aford a lot of extras we aren't poor or on assistance either
    hautemama83

    Answer by hautemama83 at 2:09 AM on Feb. 27, 2009

  • i agree with juliansmommy im sorry but most people here dont know poor becuase real poor people dont have a computer and dont waste their day on here .. we live from check to check just getting by and for us right now that is fine we are both in school tring to get better jobs so until then we are happy
    Anonymous

    Answer by Anonymous at 4:34 AM on Feb. 27, 2009

  • I've always considered us to be middle-class - until the last year or so. I believe my household is headed toward the poor level, now. The income I relied upon has greatly diminished due to this sagging economy with pay cuts in our jobs, loss of hours, etc. Even at a comfy middle-class wage, anything can go wrong and put you in the poor house like we're headed. DH got ill, had tons of med bills (co-pays, deductibles, not covered stuff, etc.) and now we're in debt over $70,000.00 and climbing. Now my job is being sacrified and I have lost income. Been looking for another job, but there's nothing out there and now we are unable to pay these bills due to rising costs and decreasing pay. Assistance? We've tried - we don't qualify b/c we own a home and are still considered employed. Yep - we're headed into the poor sector of the country.
    TeensMom07

    Answer by TeensMom07 at 6:41 AM on Feb. 27, 2009

  • So, to answer this question - when you work hard for a living, try to have decent things and live comfortably as middle class, you can become poor in a second no matter WHAT your income is /c things CAN turn around and strike without warning. Savings? Hell, that's long gone, now! This is where I believe the system sucks. Hard-working middle class people who have paid into the system for many years, hit a real bump and nothing out there to assist them b/c they work and own a home. So, the expenses continue to accrue, the paycheck continues to dwindle and soon, the poor house will be upon us.
    TeensMom07

    Answer by TeensMom07 at 6:44 AM on Feb. 27, 2009

  • Its about where your values are. If I downsized, got a cheaper house. Sold my SUV. Took my kids out of private school. Downsized my cable bill. Tossed out my cell. Took the boys out of baseball, fencing, and drum lessons. Sold the PS3, Wii, and DS's. Sold all my tv's but one. I would be rolling in cash. We are a family of 6 (including my dad who lives here) We grossed around 85K between my husband and dad. But my husband and my dad are big spenders, love stuff, have debt to pay, so that money was worthless. But we pay our bills, its getting tougher because well work has slowed down, hours have been cut and our bills havent changed. At the rate we are going now if we stay this way all year, we will make much less, around 60k for 6, which still isnt horrible if I didnt have 1200 mortgage and a 500 dollar car payment :) You choose your situation. If we thought smarter, and spent less, we would all be better off.

    TinasTribe

    Answer by TinasTribe at 7:41 AM on Feb. 27, 2009

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