MAKsdad wrote: ↑Thu Dec 02, 2021 4:07 pm
Young Boglehead wrote: ↑Thu Dec 02, 2021 3:58 pm
HomerJ wrote: ↑Thu Dec 02, 2021 2:40 am
Young Boglehead wrote: ↑Wed Dec 01, 2021 11:54 pm
HomerJ wrote: ↑Wed Dec 01, 2021 8:29 pm
LOL.
Hilarious definition of the word "middle".
We humans are such funny creatures. We can make ourselves believe anything.
Do you think 400k is upper class or upper middle class?
When you are top 2% in the richest country on earth, you are upper class by income.
By income is a good qualifier, but i still think 400k is upper middle class. Mainly because above that is upper class, and i really dont see how 2 pediatricians (for ex.) are in the highest socioeconomic class. Same class as celebrities, CEOs, hedge fund managers, even influencers? And that doesnt even include people who were born into wealth and dont have to work.
Note that i also believe these people can be "rich" if they play their cards right. I dont think "rich" and upper middle class are mutually exclusive, but it seems like sometimes people feel that if you call yourself "upper middle class" it means you dont think youre rich.
I think most people who say they are "upper middle class" would not say they are rich.
I also think the fact that there are people in the stratospheric billionaire class is not a reason to avoid calling someone making $400-500k "upper class".
going off the wikipedia definition:
" In academic models, the term "upper middle class" applies to highly educated, salaried professionals whose work is largely self-directed. Many have postgraduate degrees, with educational attainment serving as the main distinguishing feature of this class. Household incomes commonly exceed $100,000 ($133,000 in 2020 dollars). [5] Typical professions for this class include lawyers, physicians, military officers, psychologists, certified public accountants, pharmacists, optometrists, financial planners, dentists, engineers, scientists, professors, architects, urban planners, civil service executives, and civilian contractors"
I feel like many of these people, especially with a working spouse, can reach 400k household
wikipedia for upper class:
"The main distinguishing feature of the upper class is its ability to derive enormous incomes from wealth through techniques such as money management and investing, rather than engaging in wage-labor salaried employment.[9][10][11] Successful entrepreneurs, CEOs, politicians, investment bankers, venture capitalists, heirs to fortunes, celebrities, and a few number of professionals, are considered members of this class by contemporary sociologists"
This doesnt sound like your average 400k-earner to me