What Income Class are you? Lower class, Middle class, Upper Middle Class, Upper Class or Top 1%?

[toobfreak]

Lower Class:
Lower Middle Class:
Middle Class:
Upper Middle Class:
Upper Class:
Top 1%

I always understood the classes as:

1. The Poor.
2. The Lower Middle Class
3. The Upper Middle Class
4. The well to do (Upper Class).
5. The Rich
6. The Very Rich

 

[Crepitus]

You didn’t see “net worth” in the post?

Nope, missed that.

My bad.

 

[MarathonMike]

Upper Middle Class: $201,800 to $269,100.

Typo?

 

[Eman623]

I'm Upper Lower Middle class. Or is it Lower Upper Middle Class?

 

[lg325]

somewhere between lower and lower middleclass according to your chart

 

[hondo 50]

I'm near the top 1%. Just like most forum users.

 

[Mashmont]

somewhere between lower and lower middleclass according to your chart

$13.5 million is minimum wage in chat.

 

[iamwhatiseem]

I must be upper-upper middle upper class - cause a jump from 269k to $2.5 mill is a huge difference
Also this doesn't account for age.
A person with a net worth of $1 million at 35 years old, and a person who is 65 years old and has net worth of the same - is a very-very different thing

 

[Care4all]

You don't have to answer publicly if you don't want, but here are the class breakdowns of class in terms of net worth. These ranges vary according to source: Those used: Yahoo Finance, Forbes, and Investopedia. Here are the ranges

Lower Class: Net worth of $12,000 and under
Lower Middle Class: $43,760 to $61, 260
Middle Class: $93,000 to $1.04 million. Media: $204,100.
Upper Middle Class: $201,800 to $269,100.
Upper Class: $2.5 million or more.
Top 1% $11.6 to $13.7 million.

To me, the upper class are the types that send their kids to private boarding schools, having mansions in multiple cities, travel regularly on charter planes, have personal assistants and such. I see the net worth level there being $50 million. That is Hollywood money or NYC CEO money.

A financial planner I know says the threshold at which investors no longer worry about ups and down of the stock market is about $2 million net worth. Anything under that, they sweat the down days.

Net WORTH or yearly income? We own our home, worth $360 k according to zillow, (which is b.s. imo) so that alone in WORTH makes me upper middle class and above?

My husband and I are barely making ends meet with yearly income, and having to reach in to retirement savings for things unexpected, like needing a new roof!

Yet, because we own our home, we are considered well off???

 

[Blaster]

Net WORTH or yearly income? We own our home, worth $360 k according to zillow, (which is b.s. imo) so that alone in WORTH makes me upper middle class and above?

My husband and I are barely making ends meet with yearly income, and having to reach in to retirement savings for things unexpected, like needing a new roof!

Yet, because we own our home, we are considered well off???

You are better off than a lot of other people. We have a society that would rather spend than save.

 

[odanny]

Net WORTH or yearly income? We own our home, worth $360 k according to zillow, (which is b.s. imo) so that alone in WORTH makes me upper middle class and above?

My home value has gone up 30% in the last 6 months, according to Zillow. Over the 10 years I have gotten updates on its value from Zillow, their valuation has bounced up or down 5% both ways, but never like this year.

I guess you should look at it as a good sign, but I wonder if it is because the housing market is overheating again? The timing is good for me, as I want to sell and get out of here next year. This area has become very congested with lots of traffic and noise.

 

[Mashmont]

Net WORTH or yearly income? We own our home, worth $360 k according to zillow, (which is b.s. imo) so that alone in WORTH makes me upper middle class and above?

My husband and I are barely making ends meet with yearly income, and having to reach in to retirement savings for things unexpected, like needing a new roof!

Yet, because we own our home, we are considered well off???

I agree. I have to question if equity is an accurate measure of net worth.

 

[Dogmaphobe]

I have been Bohemian class for most of my life.

Money has always been less important than doing things that are fulfilling to me, and my income has always been rather less than my tastes.

 

[Mr Natural]

You are better off than a lot of other people. We have a society that would rather spend than save.

I find that having money and the peace of mind and sense of security that comes with it far outweighs anything you can buy.

 

[odanny]

I find that having money and the peace of mind and sense of security that comes with it far outweighs anything you can buy.

Money is not all that important if you can provide for your basic needs.

Mo money, mo problems. Life is happier when you keep it simple and concentrate on things other than money.

 

[Woodznutz]

You don't have to answer publicly if you don't want, but here are the class breakdowns of class in terms of net worth. These ranges vary according to source: Those used: Yahoo Finance, Forbes, and Investopedia. Here are the ranges

Lower Class: Net worth of $12,000 and under
Lower Middle Class: $43,760 to $61, 260
Middle Class: $93,000 to $1.04 million. Media: $204,100.
Upper Middle Class: $201,800 to $269,100.
Upper Class: $2.5 million or more.
Top 1% $11.6 to $13.7 million.

To me, the upper class are the types that send their kids to private boarding schools, having mansions in multiple cities, travel regularly on charter planes, have personal assistants and such. I see the net worth level there being $50 million. That is Hollywood money or NYC CEO money.

A financial planner I know says the threshold at which investors no longer worry about ups and down of the stock market is about $2 million net worth. Anything under that, they sweat the down days.

Why the gap of a $million between middle class and upper middle class???? I have $1.5 million. Where do I fit in?

 

[Woodznutz]

Money is not all that important if you can provide for your basic needs.

Mo money, mo problems. Life is happier when you keep it simple and concentrate on things other than money.

"Money answereth all things." -somewhere in the Bible.

 

[MarathonMike]

Net WORTH or yearly income? We own our home, worth $360 k according to zillow, (which is b.s. imo) so that alone in WORTH makes me upper middle class and above?

My husband and I are barely making ends meet with yearly income, and having to reach in to retirement savings for things unexpected, like needing a new roof!

Yet, because we own our home, we are considered well off???

There are many people like yourselves who are "asset rich" but not necessarily "well-off". Third or fourth generation farmers often own farms worth millions but are constantly cash strapped for the costs of maintaining a farm.

 

[BackAgain]

I’m retired along with my wife. We are doing ok economically.

Beyond that, I consider the question a bit personal. And in the wrong hands, to say more the info could be misused.

 

[ThisIsMe]

It’s two different sources, but I would consider anything under 2.5 mil as upper middle class

Really? 2M per year is considered upper middle??