Are Disney parks no longer for the Middle class?

[kdonnel]

I am lucky in that regard I am mortgage free since 2012 and debt free as well so that makes me more secure

You should apply my modified rule then!

28% of your gross income on Disney vacations yearly, 36% on all vacations combined.

Any less is un-American.

 

[Starport Seven-Five]

I wouldn't be so sure of that.

I would be.

The top one percent of household net worth starts at $10,374,030.10. (This net worth threshold is as of 2016. See below.)

Well before that level of wealth you're purchasing insurance products that more than cover you from financial ruin during a black swan event.

Fwiw, less than 10% of Americans do not carry health insurance so I find the idea that everyone is at risk of going bankrupt kind of hyperbolic.

 

[Forevermarypoppins]

ABSOLUTELY!!!!
Can any "middle class family" afford A DISNEY vacation? Answer: NO

I need to clarify my own answer

I meant Absolutely NOT , the Middle Class is not priced out.
I only gave my friends income as an example of $$ disparity within the "Middle Class". I still say they are Middle Class and they can certainty afford WDW any time. I consider myself Middle Class, and am no where near the $$ bracket, savings, retirement benefits of them. And I go on vacation almost as often. Suzy Orman would probably bash me, LOL

 

[Searc]

I would be.

Well before that level of wealth you're purchasing insurance products that more than cover you from financial ruin during a black swan event.

Fwiw, less than 10% of Americans do not carry health insurance so I find the idea that everyone is at risk of going bankrupt kind of hyperbolic.

Insurance is irrelevant in the US, once you consider co pays, deductibles and the very long list of things it doesn't cover.

 

[Christine]

I need to clarify my own answer

I meant Absolutely NOT , the Middle Class is not priced out.
I only gave my friends income as an example of $$ disparity within the "Middle Class". I still say they are Middle Class and they can certainty afford WDW any time. I consider myself Middle Class, and am no where near the $$ bracket, savings, retirement benefits of them. And I go on vacation almost as often. Suzy Orman would probably bash me, LOL

I consider myself solidly middle class and have "stats" such as your neighbor. How did I get $1M for retirement: I've been contributing to 401K accounts and aggressive growth for almost 30 years now. I save, save, save and only vacation every few years. We also don't do the latest/greatest things to our home until things can't be ignored. But as others stated, middle class encompasses a HUGE range. I've always been middle class, but there were times where I was probably on the bottom of that range where going to Disney is a challenge.

 

[Allison]

Insurance is irrelevant in the US, once you consider co pays, deductibles and the very long list of things it doesn't cover.

That may be true for you. It certainly is not true for others. Some have very good insurance with small co-pays, a low deductible and most everything covered. Myself and many people I know don't have problems with their insurance. I'm sorry that doesn't seem to be true for you.

The medical expenses we have had the last five years are very high-in the six figures. I have spent a few thousand dollars out of pocket. That is certainly not irrelevant.

 

[Searc]

That may be true for you. It certainly is not true for others. Some have very good insurance with small co-pays, a low deductible and most everything covered. Myself and many people I know don't have problems with their insurance. I'm sorry that doesn't seem to be true for you.

The medical expenses we have had the last five years are very high-in the six figures. I have spent a few thousand dollars out of pocket. That is certainly not irrelevant.

It isn't true for us at all. But I am not so blind I don't realize it *is* the case for millions of Americans.

 

[Allison]

It isn't true for us at all. But I am not so blind I don't realize it *is* the case for millions of Americans.

That doesn't make it irrelevant in the US. It sounds very relevant for both of us. As another poster said-hyperbolic.

 

[Starport Seven-Five]

It isn't true for us at all. But I am not so blind I don't realize it *is* the case for millions of Americans.

You are moving goalposts a lot. Something could be the case for "millions of Americans" and still only affect 1% of the population as there are 330 million people living here.

Your original post and argument seemed to be that NO ONE was financially secure regardless of financial status and I disagree with that. I don't disagree that medical issues are a risk of bankruptcy in the US for a portion of the population.

 

[Allison]

I don't disagree that medical issues are a risk of bankruptcy in the US for a portion of the population.

I don't disagree with that either and it certainly doesn't make insurance irrelevant in the U.S.

 

[WeatherLights]

Disney parks are, in my opinion, still a solidly "middle class" vacation destination. The middle class in the US is usually very broadly defined, sweeping in half of all Americans. Folks on the low end of the middle class spectrum may be priced out of a Disney vacation (or any multi-thousand dollar vacation) but i think the vast majority of American visitors to the parks probably fall within a "middle class" household income range. I wish Disney was willing to publish demographic data on park visitors--would be interesting to see that!

 

[AurumPunzel]

It depends on how you view it, but I'd still say that it isn't no longer for the middle classes. However, in the UK, even the middle classes are beginning to feel the pinch, with stagnating wages eating into living standards and the price of going to the US Parks increasing, yet we still at least get a decent £-$ exchange rate, current events notwithstanding.

 

[mousefan73]

What is the definition of a WDW vacation?? For a family of four this can be between 2G a week to beyond 20g. When I see what a family of 4, middle class, spend on other disposable expenses is WDW still a middle class destination very much doable. Not everyone stays deluxe. One week every 2 years at a value/ offsite is doable for most middle class. If you have 50-75 to save a month in 2 years you can do WDW. Maybe only 4 nights, value offsite,brown bagging it

 

[dish rag]

It’s not that hard to get a credit card with a $5000 limit. Not smart. But isn’t that the American way?

 

[AurumPunzel]

It’s not that hard to get a credit card with a $5000 limit. Not smart. But isn’t that the American way?

Only if you make the repayments on time and you make sure you pay off enough to offset the interest. Also, ratings.

 

[Squirlz]

It’s not that hard to get a credit card with a $5000 limit. Not smart. But isn’t that the American way?

I have a card with a $42K limit. Why is that not smart?

 

[AurumPunzel]

I have a card with a $42K limit. Why is that not smart?

If you're careful and tactical with them, then they won't be so bad. Just try to not max it out all the time and you'd be okay.

 

[Squirlz]

If you're careful and tactical with them, then they won't be so bad. Just try to not max it out all the time and you'd be okay.

Of course! But Art apparently believes simply having one is "not smart".

 

[AurumPunzel]

Of course! But Art apparently believes simply having one is "not smart".

It's only not smart if you max it out and only make minimum payments every month, since the interest could end up being an absolute killer. "Little and often" is often advocated as a good strategy when it comes to credit cards.

 

[RamblingMad]

It’s not that hard to get a credit card with a $5000 limit. Not smart. But isn’t that the American way?

The average american has a $6 thousand dollar balance at around a 20% interest rate. That's $1200 they don't get to spend every year as they service their debt.

The question folks have to ask themselves when putting a trip on a card is whether they think Disney will raise prices faster than the interest rate on their card. If not, can they save enough to keep up with the price increases? If not, then it's not affordable.