4 ms·
> but will there be such opportunities for their children Yes, assuming they grew up in a household in the 70th percentile or above [0] income bracket and/or a
by alephnerd 7mo ago
> but will there be such opportunities for their children
Yes, assuming they grew up in a household in the 70th percentile or above [0] income bracket and/or are on good terms with your parents and siblings.
At the end of the day, the family unit matters because intergenerational wealth has always been important.
> I thought I did well for myself, finding myself among the middle class, the end is on the horizon
Are you maxing out your Roth 401K (and if possible) your Roth IRA as well while also keeping fixed costs like rent or mortgage at around 40% of post 401K+IRA disbursement?
If so, you have a shot of climbing up into the upper middle class.
[0] - https://www.cbo.gov/publication/60807 https://www.cbo.gov/publication/60807