You may be in the middle class like most other Americans, but this doesn’t necessarily mean that everyone enjoys the same level of comfort as you. If you’re interested in finding out whether this is true, here are 19 indicators that you’re doing better than the average US resident.
Earning $60,000 Per Year
The first and easiest measure of your success is your income. Although it doesn’t put you among the richest or in the upper-middle class, simply earning more than $59,384 means you still make more than what Cincinnati.com reports the average American earns.
Earning over $30 Per Hour
Sometimes, your hourly rate shows how much more comfortable you are than others. If you earn over $28.16 per hour, you have to put in less work to make the average salary. Believe it or not, only 19% of Americans enjoy the privilege of earning over $30 every hour.
Boasting an Advanced Degree
In 2009, you would’ve been better off than the average American with just a bachelor’s degree. Today, an enormous 54% of the population can boast of this, so you have to bring something else to the table. If you have a more advanced degree, you’re clearly doing something right.
Having Thousands of Dollars Saved Up
Putting thousands of dollars away to cover an emergency is a privilege not many others enjoy. A Fortune post on the Fed’s Economic Well-Being survey reveals that four in ten Americans can’t even come up with $400 to cover an unexpected expense without going into debt, so think yourself lucky.
Owning a Car Worth over $50,000
Over 91% of US households have access to at least one car, but when it comes to the cost of your car, then it’s another story. Since the average cost of new cars in the US is about $48,000, a car worth more than this puts you on top.
Being Debt-Free
It’s no news that Americans live in a credit-based society—the average debt is a worrying $104,000. Considering that 77% of US households are obligated to pay off at least one debt, you’re better off than many other Americans by simply being debt-free.
Owning a Mortgage-Free Home
The American homeownership rate may have fallen a little, but as of 2022, it still stood at a majority of 66%. So, merely having a home doesn’t cut it. Your home has to be mortgage-free for you to be better off than 60% of other US households.
Having a Credit Score Above 717
The average FICO credit score in the US is 717, and the average VantageScore is 701. If you look at your credit through any of these models and have a score above these numbers, then you’re better off than most people around you.
Being Invested in More Than One Asset
Americans are becoming increasingly investment savvy, as over 60% have money in one investment or another today. The problem, however, is that most investments are in the stock market and 401k accounts. As CNBC lays it out, you’re in the top, safest 34% of investors in America if you have diversified investments.
Affording Healthcare Is a Breeze
American healthcare is too expensive for the average American to afford without struggling a little with their finances. If you can easily afford insurance or outright payments for medical treatments out of your savings account, then you’re better off than half of US residents.
Not Worrying About College Affordability
The cost of college in the US only seems to get worse despite the existence of student loan programs. Being able to afford your university tuition without loans means you’re in a more affluent position than 77% of people who have difficulties affording private colleges, so be grateful for your financial position.
Earning Passive Income
Having two income streams isn’t exactly a flex if you have to work for them, but do you earn passive income—i.e., money from rent, dividends, or royalties that you get without needing to put in any effort for it? If so, you’re clearly in a better position than the average American.
Traveling Abroad
Vacationing is a favorite way for Americans to spend their time off from work. If you’ve visited at least one country, you’re just like 74% of the population. However, Pew Research indicates that bragging starts when you vacation in five countries or more, as only 26% of Americans have done this.
Eating Out at Luxury Restaurants
Eating out or ordering from casual restaurants isn’t enough to stand out, as about half of Americans already do this. However, if you have enough money to choose upscale, luxury dining locations, then you’re better off than certainly better off than the average American.
Controlling Your Work Schedule
If you work on your own terms, you enjoy more freedom than most Americans. This is because a sad 80% of US adults have little say in how their work schedule is set up. Almost 70% are even told to keep their schedules open for work at any time of the day or week!
Putting Over $350,000 Into Retirement Savings
The average US citizen who saves for retirement has about $65,000 in a retirement account, and for families, this average goes up to about $333,000. An individual or household with savings over these values is set up for a more enjoyable retirement than most other people in the US.
Holding a Secure Job
Most American adults have worked at least one job for decades. However, guess how many hold stable jobs? Only 40% of workers. Not having to worry about being sacked and forced into the scary labor market is another thing you can be proud of.
Having the Privilege to Say No to Work
Most of the people living around you live paycheck-to-paycheck, and if we want to put a specific number on this across the US, Forbes tells us that it’s a whopping 76%. Merely having the privilege to say no to work for just a month puts you in the top quarter of US workers.
Not Being Bothered by Grocery Prices
Finally, you know that you’re in a better position than most if the inflated prices of groceries haven’t caused you to adjust budgets. Grocery prices have increased by 19% in the last three years, and a huge 90% of Americans say they’re worried about affordability. So, be grateful for your wealth, as not many share it.
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