Where do you draw the line between upper middle class and upper class?

[Anonymous]

Anonymous wrote:So is the CEO of a midsized firm earning $1 million a year "closer" to the low income worker earning $30,000 than the hedge fund manager earning $100 million a year?

After all, 1,000,000 - 30,000 = 970,000
100,000,000 - 2,000,000 = 99,000,000

Yes

[Anonymous]

Anonymous wrote:I make 250 and DH makes 900. All of our income is W2. We are def UMC but I don't know about UC. We certainty can afford most of what we want. But when I think UC or Rich, I think of yachts, private planes, 5,000/night hotel rooms. We don't have 200K to spend on a weeks vacation---that's what I think of as UC/Rich.

You are rich. Not UMC. But you’re not UC. I think it UC as having your name on a building or being able to start your own foundation. There is an in between UMC and UC that is a bit nebulous, I think the person who called it “richistan” articulated it well.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I make 250 and DH makes 900. All of our income is W2. We are def UMC but I don't know about UC. We certainty can afford most of what we want. But when I think UC or Rich, I think of yachts, private planes, 5,000/night hotel rooms. We don't have 200K to spend on a weeks vacation---that's what I think of as UC/Rich.

You are rich. Not UMC. But you’re not UC. I think it UC as having your name on a building or being able to start your own foundation. There is an in between UMC and UC that is a bit nebulous, I think the person who called it “richistan” articulated it well.

+1

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I am from England where we have a real class system, based on birth, education, profession rather than just finances.

Here in the US the "class" system is a joke.

This. Americans strive so hard.

The US system is better than a system with rigid labels imo.

Omg so much better! Brits can be insufferable snobs.

So true. And for no reason. They can keep their over crowded, dirty, rainy, chav ridden island. Brits, please stay there! We don't need you to bring your snobbery and problems here. We fought a war to separate.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I am from England where we have a real class system, based on birth, education, profession rather than just finances.

Here in the US the "class" system is a joke.

This. Americans strive so hard.

The US system is better than a system with rigid labels imo.

Omg so much better! Brits can be insufferable snobs.

So true. And for no reason. They can keep their over crowded, dirty, rainy, chav ridden island. Brits, please stay there! We don't need you to bring your snobbery and problems here. We fought a war to separate.

And their teeth are gross.

[Anonymous]

Anonymous wrote:I bet none of you would proudly crow that your child with the 98% average in school is solidly middle of the pack.

Interesting perspective. I agree IQ is logarithmic, similar to income. If only more people understood math and particularly statistics.

[Anonymous]

Anonymous wrote:I hear most people say “I am middle class.” Implying anyone above them is “upper class.”

+1
I say this all the time. The reality is I know I'm UC; it's just not polite to say it out loud. We have a cultural standard (politeness) about this topic.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I hear most people say “I am middle class.” Implying anyone above them is “upper class.”

+1
I say this all the time. The reality is I know I'm UC; it's just not polite to say it out loud. We have a cultural standard (politeness) about this topic.

Me again. To clarify - surname is on public streets, schools, and even a small town.

[Anonymous]

The Fortune 500 CEOs aren't rich according to "UMC" DCUM posters. Afterall, they work.

[Anonymous]

Not having to take out student loans for your kids to go to college

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Upper class you stay in the ritz or equivalent on vacations. UMC, you're staying at the JW Marriott or maybe a nice Westin. Upper class you regularly fly business or first class on your European vacation. UMC you're going to Europe but you're flying coach (maybe you cc points will upgrade you if you're lucky). Upper class you have a vacation home someplace nice like the hamptons or its equivalent. UMC, you vacation at the hamptons, but you stay in a nice air bnb.
Upper class-you bought your house in the nicest neighborhood that gets you into the best public schools, but your kid is going to private. UMC, you live near the upper class neighborhood and are zoned for the same great public schools, but private would be a stretch and if you swing for private, you're going to be staying the Courtyard Marriott on your local vacays from now on.

Nope. All this is still UMC. Upper class is private jets, yachts, and the ability to spend money at Chanel if you want.

Lol. No. This is so UMC.

+100

UC is inheriting your grandma's Chanel bags

Upper class you stay with your friends at their houses in europe, if you don't have your own.

[Anonymous]

Anonymous wrote:Upper class doesnt have to work. They can live on dividends and businesses.

That’s true for nearly every retiree.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Class and wealth are related but not the same thing.

You can grow up very low income and become UMC easily by accumulating and growing wealth. But no matter how much money you make, the transition to UC is a lot harder, even from UMC, because so much of it is cultural experience shared from birth on.

There is no obvious line, no obvious amount of wealth that makes one UC vs UMC. Because, like I said, culture (from birth) plays a role here. It's kind of like what SCOTUS says about porn -- you just know it when you see it. I know UC v UMC people because my grandparents were UC. This applies to the US; I wouldn't have a clue elsewhere in the world. Because again -- it's cultural.

So Elon Musk isn't upper class?

We have a difference in this country between the rich tech bros, celebs, and athletes vs. the people who have had their family name on a building at a college campus since the 1960s, the people who sponsor the arts, the people named as ambassadors to various countries, and the people who have “foundations.” These two groups sometimes run in the same circles, to be sure. But NYC or Boston high society isn’t going to fully accept into their inner circles the successful hedge fund guy who grew up on Long Island with a teacher mom and an accountant dad and went to the local public or Catholic school. Even though that’s a perfectly acceptable, comfortable, nice, and dare I say UMC upbringing.

Native Bostonian here. Does anyone really care about Boston high society?

[Anonymous]

Anonymous wrote:I make 250 and DH makes 900. All of our income is W2. We are def UMC but I don't know about UC. We certainty can afford most of what we want. But when I think UC or Rich, I think of yachts, private planes, 5,000/night hotel rooms. We don't have 200K to spend on a weeks vacation---that's what I think of as UC/Rich.

And you are wrong here. There are layers to UC just like MC. You are by no stretch of imagination UMC if you in addition also have close to or over 10 mil NW. You are entry level UC, who do not have unlimited funds for extreme luxury. Yachts/private planes is a higher level of UC or what some call uber-rich or mega-rich. There is a term that needing invention simply to describe the levels of wealth some have where the sky is the limit and you can buy every imaginable luxury and do not have to compromise. Lower level UC are still above UMC in their ability to buy UMC lifestyle without working. Anyone with 10 mil NW can buy UMC lifestyle if investing wisely without having to work.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Upper class doesnt have to work. They can live on dividends and businesses.

That’s true for nearly every retiree.

This is already addressed here if you bother reading. Retirees have diff lifestyles, some live penny pinching hand to mouth in trailer parks, others have multiple homes and travel in luxury, plus pay for grandkids schools and DPs. Do you not get this simple concept? There are dirt poor retirees with zero to their name living in subsidized housing on SS, the don't have to work. Duh. At some point peasants have to be assured that they don't have to work till they drop dead or they will rebel.