quote:
The higher you get the larger the range. Until you get to upper. There is a small portion (1%ish) that is truly in a class that has much more wealth than the rest. And I just don't think you can put a family making 200k in the same class as Donald Trump or Warren Buffet.

so $500k isn't upper? $1 mil/year?

because you can't compare that to Trump either

the differences between lower, middle and upper are not the lifestyles or the extravagance of the things they own, its the ability to be able to afford basic needs

lower class struggle to afford for basic needs, like utilities, healthcare, food, gas, etc

middle struggle to save enough for retirement, college, healthcare, etc

upper shouldn't struggle to pay for any of these

if you struggle to pay for any of these at $200k, you just suck at managing money

This post was edited on 12/9/16 at 10:40 am

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Posted by slackster

Houston

Member since Mar 2009

85492 posts

Posted on 12/9/16 at 10:42 am to Salmon

quote:
he differences between lower, middle and upper are not the lifestyles or the extravagance of the things they own, its the ability to be able to afford basic needs

lower class struggle to afford for basic needs, like utilities, healthcare, food, gas, etc

middle struggle to save enough for retirement, college, healthcare, etc

upper shouldn't struggle to pay for any of these

This.

At $180k gross, you're not waning for anything on any level of the financial spectrum.

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Posted by KG6

Member since Aug 2009

10920 posts

Posted on 12/9/16 at 10:48 am to Salmon

quote:
middle struggle to save enough for retirement, college, healthcare, etc

upper shouldn't struggle to pay for any of these

if you struggle to pay for any of these at $200k, you just suck at managing money

I agree 100% with this statement that and it's kind of how I made my breakdown. Just maybe a slight difference in opinion of where one may struggle to meet the financial burdens. My parents probably made 70k combined for most of my life. They did not struggle to pay for my college, or save retirement. So is that upper class? And I'm not saying I'm struggling to do those things making 200k (and that was one year where I was given a lot of bonuses). I'm not struggling now. If you say not struggling to afford college or retirement is upper class, than I'll take that title I guess. But then I think a lot of people will suddenly get lumped as upper class when you would otherwise consider them middle.

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