Ervin Pattinson
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The American Income Caste System
Let's consider that $68,703 is the median for household earnings. The start of middle-class income-earning would be $46,031. The end of middle-class income-earning would be $137,406. Again, this is considering the median for all households is $68,703. Low-income would be below $46,031 which is 67% of the median. High-income would be above $137,406 which is the median doubled. The federal poverty level is at $21,960 income earned and below. To be high income would be between $137,406 to $518,399. That places a household that earns $518,400 and above as rich.
By Ervin Pattinson5 years ago in Journal
Budgeting
I covered details about High Yield Savings Accounts last time. I wrote about different savings account and their uses. What was missing from that topic was a look at our budget. We should save for a rainy day, but some of us do not have a plan in place to achieve our savings goals. What we will be looking at for this topic are different ways to go about budgeting.
By Ervin Pattinson5 years ago in Journal
Passive Income in 2021
What is Passive Income? Passive income is wealth building with minimal to no effort. It is the fruit that is produced through the initial investment of your time and finance. It is heavily sought after by individuals who are just starting on their finance journey or are looking for a different stream of income from their active income. It is popular among the different streams to have counter to actively being paid for your time. Powered best by the law of compounding. A popular formula for calculating the effects of compounding is as followed.
By Ervin Pattinson5 years ago in Journal
