When I first penned this article, my goal was to talk about the American middle class, especially in light of the global picture. It was originally published on August 31st, 2012 after my husband and I had gone to dinner with some people in our inner circle. As we enjoyed steak and potatoes, the discussion turned to an area it so often does give our careers in finance, economics, and investing: Money.
Specifically, our dining companions were interested in discussing the state of the middle class and middle-class incomes; what has happened to working families, to middle-class jobs, and to the opportunity to enjoy a good standard of living for millions of hardworking American men and women.
Before we revisit that discussion about the condition in which the middle class now finds itself, many of you know that this is a topic dear to my heart. We've discussed class and household income in the United States here at Investing for Beginners. I've also delved into some of the more interesting, advanced data sets on my personal blog for those like to know what is really going on with their friends, family members, neighbors, and coworkers. In those posts, we:
Looked at the level of annual household income required to be ranked among the top 1 percent of all households in each of the 50 states;
Discovered how, specifically, the top 1 percent of all households in the United States generate income (wages, business ownership, etc.);