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“‘the mass affluent’; they’re retirees, dual teacher families, software engineers, small business owners, and doctors” Um I think one of these things is not li
by awinder 4y ago
“‘the mass affluent’; they’re retirees, dual teacher families, software engineers, small business owners, and doctors”
Um I think one of these things is not like the other from a cash holdings standpoint.
- Macha 4y agoDual teacher families?
- bombcar 4y agoBased on “millionaire next door” I’m not surprised to see that on the list. Teachers in general seem to live a “less flashy” life than a stereotypical lawyer, and two of them now on pension may have lots of cash laying around - and selling them product could be quite lucrative. Someone’s buying the CDs and overpriced mutual funds.
- patio11 4y agoIn the Chicago area a dual teacher family has income approximating a Google engineer. I'm related to several examples. I know folks think the profession took a vow of poverty, and while they're not compensated in this fashion everywhere, they have excellent PR on that front.
- awinder 4y agoTeachers can max out at a good salary, Chicago looks pretty close to where I live where 25-30 years in you can get up towards 90-100k. An L3 Google engineer looks like they start at 190k. That’s an extreme example but I’m just saying, dual-teacher families are probably not exceeding the median dual-professional household salary, so I don’t understand the callout.
- JJMcJ 4y agoSimilarly in California, especially for the wealthier districts. Maybe even more than in Chicago.