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      11-15-2011, 08:53 AM   #95
erio's Avatar

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Originally Posted by VVG View Post
Yes, but earlier, you posted that you considered an income of $350k "upper middle class", and yet now you are saying an income of $250k puts you in the top 1.5%.

How's this:

Poor=bottom 20%
Lower Middle=20-40th percentile
Middle=40-60th percentile
Upper Middle=60-80th percentile
Upper=80th percentile and up

I agree it is all a matter of definition, but how can you call the 99th percentile "upper middle class"?
Yes top 1.5% household income. That doesn't mean "rich" in my book. 250k or 350k is an amazing income, but don't be upset that I don't consider that rich. The term rich to me really depends on a combination of total net worth, debt, AND income. If we are strictly talking about income alone, I would say for example that someone who makes 1.5m/year is probably rich. I believe most sociologists define it as the wealthiest 1%. This term is very subjective. I guess another factor would be location. 350k in some parts of the country will not get you near as far as others in terms or property, taxes, etc.

Last edited by erio; 11-15-2011 at 09:09 AM.