And for America’s next trick, it will make the middle class disappear! But before uncertain economic times whisper the final “abracadabra,” you may have started feeling that sense of financial stability that was once just a distant dream.
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Maybe you don’t have to stress as much about bills, live paycheck to paycheck, or you know, have sleep for dinner. You can enjoy little luxuries or finally take that long-desired vacation without worrying about filing for bankruptcy afterward. If this sounds familiar, you may have finally reached the middle class.
To confirm, here are the top five signs your wallet knows you’ve made it before you do.
No. 5: Buying a House Isn’t Just a Zillow-Inspired Fever Dream
For decades, you’ve heard how your parents or people from the baby boomer generation were able to buy a house for two shiny buttons and a winning personality. However, being able to go from renting your home to owning it is considered by many to be a great achievement in today’s economic and housing market.
Like, talk about a magic trick, thanks to home prices in certain parts of the country rising faster than incomes. Because it’s become extremely difficult to become a first-time homebuyer, if you have been able to pull off this elusive feat, pat yourself on the back because you’re middle-class. If you haven’t yet, well, that’s showbiz, baby.
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No. 4: You Don’t Have To Take Days Off From Retirement
If your internal clock for when you can stop working is keeping pace with your retirement plan and budget, congratulations. Yes, retirement is something that most people want to achieve, but wishing doesn’t always make it so — especially if you are rounding out middle age and still have a pretty empty nest egg.
However, when you get to a point where you have the disposable income to put toward your retirement, it could be a sign you’ve made it into the middle class. If you can look at your 401(k) plan or savings and say, “Hey, that will cover at least 30 years,” you may be more middle-class than you give yourself credit.
No. 3: Beep Beep! You Own the Keys to Your Jeep
More than just a flex of someone going through a mid-life crisis, owning your car means you no longer need to deal with long, crowded commutes to work with public transportation, especially in locations where this isn’t a common form of commuting. If you have the funds and credit score to afford the monthly payments that owning a car requires, you are most likely middle-class.
No. 2: The IRS Actually Notices When You Don’t Pay Taxes
Tax season creates a lot of anxiety for many people, but needing to file a tax return isn’t necessarily a bad thing. It means you’ve earned enough income during the year that the IRS feels you must document your earnings.
Not as comforting is the potential that they will, in fact, put you in jail if you don’t pay these taxes, but isn’t it an honor just to be nominated? It also means you potentially had enough income that you’ve been able to invest throughout the year and had a reasonable number of expenses.
No.1: You Can Afford To Get Sick
And now, the number one way your wallet knows you reached the middle class (maybe even before you do) is … you can afford to get sick! If you sprain your ankle and need to take a few days off, you won’t have to sell a kidney to avoid going into crippling debt.
A sad commentary on modern times is that if you are more worried about the medical bill than the actual illness or injury, your finances could be out of whack. Not to mention, you should start asking yourself if you pay your taxes and buy insurance and are still not covered, what does it all mean? And is it OK to feel like everyone is mad at you?
Alas, steady jobs tend to have access to employer-sponsored healthcare plans, which are not only affordable but also tend to be of higher quality. With lower deductibles and out-of-pocket costs, any healthcare emergency is less likely to strain these individuals financially. If this describes your financial situation, welcome to the middle class.
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This article originally appeared on GOBankingRates.com: Top 5 Signs Your Wallet Knows You’ve Reached the Middle Class
