The Upper Middle Class Trap via Nick Maggiulli

I see this everywhere -> https://ofdollarsanddata.com/the-upper-middle-class-trap/

Excellent write-up about a broader social trend. I don’t get it. But his conclusion is right on.

This is why the best way to escape the upper middle class trap is to stop participating in it altogether. Opt out of those ultra-competitive sectors that won’t materially change your lifestyle. Send your kids to good public schools instead of costly private ones. Skip first class and fly economy. Buy a little less house than you can afford.

The ironic part is that the data supports this. Children from the upper middle class who attended elite schools performed no better than similar kids who attended public ones. The bidding war data illustrates that many people overpay for housing. And, as I demonstrated last year, premium travel experiences aren’t what they used to be.

So figure out if private school, a nicer home, and more extravagant vacations are actually worth the high price, then move on. Ask yourself: Am I buying this to improve my quality of life, or merely because other people are buying it?

Also, re: schools, what about instead of “buying” a school with a supposedly “good” rating…maybe show up & invest in a school with a “bad” rating? For many schools, it really does not take many involved parents or much effort to shift morale, priorities & performance.