4.8 • 3.6K Ratings
🗓️ 24 January 2025
⏱️ 7 minutes
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0:00.0 | All right, I'm not normally one for comparison. |
0:08.5 | And I firmly believe that your value is not on how much money you make. |
0:13.0 | Your net worth is not your self-worth. |
0:15.7 | But in America's economic landscape, it is evolving constantly, |
0:19.6 | and sometimes it is helpful to keep track of your progress based on those around you. So today I did want to share some recent stats on salary ranges so that you can see where you fall among other Americans. And later, I'll share three tips for using your income to build wealth. So before we get started, make sure to subscribe and share this episode with a friend. |
0:41.6 | All right, according to the most recent data from Pew Research, the median income for middle-class households has reached more than $106,000. |
0:52.1 | So the full range for middle-income households is around $56,600,000. So the full range for middle income households is around $56,600 all the way up to $169,800. |
1:02.8 | That is really middle income households. So lower income households earned $56,600 or less. and upper class households earned more than $169,800. |
1:17.7 | So that's the range. And I'll be honest, when I read that, it felt like, oh my gosh, like the middle |
1:23.6 | class, like I'm like that, like earning a lot to reach that middle class, |
1:27.7 | you know, status. Because, yes, on the, on the lower end, it is around that $60,000 mark, |
1:33.1 | which is usually where we find 60 to 70 is usually the average, not the median, but the average |
1:37.9 | household income. But when you look across the board of all of it, like how much money it takes |
1:42.6 | today to live and survive. |
1:45.2 | And it continues to change. You know, when I even think back when I entered the workforce, |
1:49.1 | 15 years ago, like how different things have changed. You know, it's just, it is amazing to look |
1:53.2 | over time. But I think it always is good to get a range on recent data just to know again |
1:58.7 | where you are. But that wide range is so true, especially for that |
2:02.3 | middle income tier. And I'm sure there are families out there who make, you know, $170,000, |
2:07.8 | and they don't really feel like their upper class necessarily. And again, we see that this is so |
2:13.9 | true when you look across America because the averages, again, are anywhere from California |
2:18.4 | to Ohio. And if you make $170,000 in California, that's much different than Ohio when you take |
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