Latest news with #top10percent
Yahoo
2 days ago
- Business
- Yahoo
I'm a Top 10% Earner: 5 Reasons I Consider Myself Middle Class
According to the most recent Current Population Survey (CPS) data, an income of $234,769 or higher lands you in the top 10% of households by income. Read More: Find Out: But in some parts of the country, even that income doesn't buy you a life of luxury. 'On paper, I earn in the top 10%, but I still feel very much middle class,' said Julian Merrick, a marketing consultant and founder of Supertrader. 'I'm careful with money, but the price of everyday things keeps going up — whether it's school fees, healthcare, or even basic services.' Merrick isn't alone in feeling middle class despite a nominally high salary. Many earning $200,000 or more say they still feel stuck in the rat race. Here's why. Coastal City Housing Costs Merrick lives in New York City, where the average home costs $797,519 according to Zillow. Some cities cost even more. 'Living in an 'elite' zip code can distort your perception of what it means to be well off,' said Jeremy Gurewitz, cofounder of Solace Health. He lives in San Francisco, where Zillow pegs the average home price at $1,291,622. 'A middle-of-the-road three-bedroom home close enough to tech hubs for a reasonable commute can cost well over $1.5 million. That level of overhead doesn't leave much room for luxury or financial freedom. Success, for me, isn't synonymous with comfort.' Discover Next: Lingering Student Loans Many higher earners still carry proportionately high student loan bills. Gurewitz attended the Wharton School of Business at the University of Pennsylvania, which estimates its annual cost of attendance at more than $95,000. Multiply that by four years for an undergraduate degree, and graduates can find themselves owing nearly $400,000 — more than the cost of the average U.S. home. High Child Care Costs In San Francisco, puts the average monthly child care cost at $3,537. Two children under school age can cost more than $7,000 a month in child care alone. 'In an area like San Francisco, $200,00-plus doesn't go that far when you have to factor in a mortgage, child care, student loans, and the extreme cost of other essential services like healthcare, insurance, or even just the grocery store,' said Gurewitz. College Savings Most parents earning top 10% salaries want to help their children pay for college — even if they are still paying off their own student loans. 'You're planning for college, saving for retirement, and trying to build a safety net,' Merrick said. 'By the time all that's factored in, there's not as much leftover as you'd think.' Retirement Planning Takes a Bite The other part of that future planning is, of course, retirement. 'We aim to max out our retirement contributions each month,' said Gurewitz. 'My definition of wealth involves time freedom and generational stability, neither of which seems assured at this point. I still check menus for prices and pause before booking a vacation. I rent a mid-range SUV, still budget carefully, and save rather than splurge.' Careful budgeting is a recurring theme among these higher — but not superstar — earners. Gurewitz and Merrick might have larger income lines on their budget than the average American, but they also have larger expenses like mortgages, childcare, and student loan payments. And when you have to track every dollar you spend, you don't feel rich — you feel middle class. More From GOBankingRates 5 Old Navy Items Retirees Need To Buy Ahead of Fall 5 Types of Cars Retirees Should Stay Away From Buying This article originally appeared on I'm a Top 10% Earner: 5 Reasons I Consider Myself Middle Class
Globe and Mail
05-08-2025
- Business
- Globe and Mail
Raymond James Recognizes Republic Bancorp, Inc. Among Premier Community Banks in America
Recently recognized as one of the nation's top performing community banks, Republic Bancorp, Inc., the parent company of Republic Bank & Trust Company ('Republic' or the 'Bank'), has been named a winner of the 2024 Raymond James Community Bankers Cup. The annual award honors the top 10 percent of community banks across the country. 'Republic is steadfast in our commitment to the financial security of our clients as part of our commitment to enable them to thrive. We pride ourselves on our stability, innovation, and passion to excel which is well illustrated by our strong financial performance,' Republic Bancorp, Inc. Executive Chair Steve Trager said. 'Since opening our doors more than 40 years ago, we have worked hard to earn the full faith and confidence of our clients by offering exemplary service and reliable access to our bankers.' 'We're honored to receive the Raymond James Community Bankers Cup for 2024 financial performance,' Republic President and CEO Logan Pichel added. 'Our mission is to enable our associates, customers, communities and shareholders to thrive.' The Raymond James Community Bankers Cup honors the top 10 percent of community banks across the country with assets between $500 million and $10 billion based on various profitability, operational efficiency, and balance sheet metrics. While exceptional performance in 2024 was a critical aspect of Raymond James' formula, the Community Bankers Cup also recognizes banks that are building long-term shareholder value. The pool of banks considered includes all exchange-traded domestic banks, excluding mutual holding companies and potential acquisition targets. This announcement comes on the heels of reporting that showed second quarter 2025 net income and Diluted Earnings per Class A Common Share ('Diluted EPS') of $31.5 million and $1.61 per share, representing increases of 25 percent and 24 percent respectively, over the $25.2 million and $1.30 per share reported for the second quarter of 2024. Of note, Republic is proud to be recognized by numerous local and national organizations for its impact as a leading financial institution, committed community partner, and preferred employer. Recent noteworthy financial and banking accolades include S&P Global Market Intelligence Top 50 Community Bank (2025, 2024), Newsweek Best Regional Bank (2025, 2024), Newsweek Best Online Lender (2024), and more. About Republic Bancorp, Inc. Republic Bancorp, Inc. (the 'Company') is the parent company of Republic Bank & Trust Company (the 'Bank'). The Bank currently has 47 banking centers in communities within five metropolitan statistical areas ('MSAs') across five states: 22 banking centers located within the Louisville MSA in Louisville, Prospect, Shelbyville, and Shepherdsville in Kentucky, and Floyds Knobs, Jeffersonville, and New Albany in Indiana; six banking centers within the Lexington MSA in Georgetown and Lexington in Kentucky; eight banking centers within the Cincinnati MSA in Cincinnati and West Chester in Ohio, and Bellevue, Covington, Crestview Hills, and Florence in Kentucky; seven banking centers within the Tampa MSA in Largo, New Port Richey, St. Petersburg, Seminole, and Tampa in Florida; and four banking centers within the Nashville MSA in Franklin, Murfreesboro, Nashville and Spring Hill, Tennessee. In addition, Republic Bank Finance has one loan production office in St. Louis, Missouri. The Bank offers online banking at The Company is headquartered in Louisville, Kentucky, and as of June 30, 2025, had approximately $7.0 billion in total assets. The Company's Class A Common Stock is listed under the symbol 'RBCAA' on the NASDAQ Global Select Market.
The National
13-06-2025
- Business
- The National
Coptic Orphans has been empowering Egyptian children for 40 years
The US-based non-profit is in the top 10% in the country in terms of size
