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| Ice Capades at the Grain Bin House. Winter 2019 |
Years ago at our "finest" (it's debatable) Keith and I had an income of over $135,000/yr. Our farm was certified organic and we sold to four grocery stores and ten restaurants in the Chicago area, plus one in Champaign. In addition we managed our own retail farm store on our property. Neither of us worked an off-farm job. We were considered upper middle class.
We also ran ourselves ragged and paid a huge hunk of income tax.
But now on our new farm, coming up on our four year anniversary, we've realized one of our key financial goals, to obtain lower class status. In Illinois, where the median income was $ 62, 992 in 2017, lower middle class was considered at $37,473 per year. Less than that, for a family of two, is considered lower class.
Keith and I, with his county custodian job and my small nursing pension, bring in about $26,000 a year. Now, if we made less than $16, 910 we'd be considered "impoverished" or just plain poor. But, we don't think much of the state's definitions anyway, they've done a horrible job of managing their own money, so it's all a moot point, except for the fact that we pay far less income tax than we ever have, and that makes us giddy happy. We completed our taxes last week and we will receive $17 back from the Federal government and a whopping $78 return from the State of Illinois.
How shall we spent this huge mother lode? Should we invest in stocks? Take an Alaskan cruise? Purchase some diamond earrings for my trips to Aldi's? Put a down payment on a car less than twenty years old? No. I believe we'll buy some OSB plywood panels for Keith's shop in the barn.
That's us. Always living on the wild side.
Ah the simple life! Goodbye City Life!
ReplyDeleteSometimes, Dear Unknown, I miss the simple life of the city. There I could just turn up my thermostat for heat, walk to the grocery for food, throw my clothes in a dryer. But then spring comes and all visions of city life dance right out of my head.
DeleteIt is a strange concept associating 'class' with income, but I suppose the meaning must be different in the US. Those of us who live the simple life are often far richer than those who make oodles of money.
ReplyDeleteEven stranger, since we slashed our income Keith and I dress better than ever (off farm). I have more time to thrift shop and am wearing some of the best quality used duds! You should see my "new" groovy fringed leather coat. I'm hipper than Peggy Lipton of The Mod Squad.
DeleteMay I suggest you treat yourself to a bottle of Irish whiskey ;)
ReplyDeleteDone and dusted!
DeleteI believe most people in the US anymore are closer to lower class than middle class. It seems that two people working in a family can barely make enough to meet the middle class these days. It is sad!
ReplyDeleteI only uses the terms for a touchpoint. As others have mentioned, class is about so much more than income. Our biggest goal is to live within our means, a foreign concept to so many who figure "if I have the credit, then I can afford it".
DeleteHere's to giving money-based society a boot in the arse. Sometimes I daydream about a world where 'class' is rated on abilities. It makes me smile. Congrats on your refund - I vote for Irish whiskey, too!
ReplyDeleteI think those millionaires that live like they're in poverty, are pretty disciplined, clueless or just plain happy with the bear minimum. Good on those who want to take less, and do more with it, no matter how much you earn. I know for you two, the payoff is the freedom to grow your own food, instead of having no time for yourselves, growing it for others. A good exchange for peace of mind.
ReplyDeleteGreat post, Donna. I always love your sense of humor when dealing with topics like this. Dan and I are getting $18 from our federal return. BUT, it's the first time we don't have to pay our "fair share" health insurance penalty (even though the supposedly did away with it), because our household income is below the threshold level.
ReplyDeleteWhat I appreciate about you and Keith, is that you aren't letting income define a fulfilling and satisfying lifestyle. That's the biggest mistake people make, and I think is why so many people are dissatisfied with life. So I tip my hat and raise a toast to you both. Thanks for being an inspiration.
It's all in how you define wealth and riches, as you well know Donna. There are folks who are "stinking rich" but have no clue on how to enjoy themselves and there are those who know HOW to make the MOST of what they have. It seems that you and Keith have come to that point and amen to shopping in thrift stores. I absolutely dislike buying anything in retail stores other than underwear and shoes and perhaps an occasional dress for a family wedding. Thankfully the two I bought for 2 events last year can be used for future events.
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