Are we UMC?

[Anonymous]

Your income definitely qualifies you to be UMC but your low net worth does not. You have an upper income HHI, but not UMC wealth.

[Anonymous]

You are DCUM UMC. You are in the top 3-5% of the DC metropolitan region and the top 2-3% of the nation. But DCUM considers you UMC because the audience here is largely self-selected from the wealthier portions of the metropolitan area.

In reality Middle class is about the 40th to 75th percentiles. That is realistically about $75K-150K. Nationwide, the top 10% (e.g. the 90th percentile) has an HHI of about $200K and around the DC area, that is about $250K.

[Anonymous]

Anonymous wrote:You are DCUM UMC. You are in the top 3-5% of the DC metropolitan region and the top 2-3% of the nation. But DCUM considers you UMC because the audience here is largely self-selected from the wealthier portions of the metropolitan area.

In reality Middle class is about the 40th to 75th percentiles. That is realistically about $75K-150K. Nationwide, the top 10% (e.g. the 90th percentile) has an HHI of about $200K and around the DC area, that is about $250K.

Comparing your HHI/NW with nationwide avg is meaningless. You need to compare with ppl in DMV area because this is where you live and COL is adjusted. OP is clearly not UMC. Our NW is 15x (but same HHI) and I don't even consider ourselves UMC.

[Anonymous]

Anonymous wrote:

Anonymous wrote:You are DCUM UMC. You are in the top 3-5% of the DC metropolitan region and the top 2-3% of the nation. But DCUM considers you UMC because the audience here is largely self-selected from the wealthier portions of the metropolitan area.

In reality Middle class is about the 40th to 75th percentiles. That is realistically about $75K-150K. Nationwide, the top 10% (e.g. the 90th percentile) has an HHI of about $200K and around the DC area, that is about $250K.

Comparing your HHI/NW with nationwide avg is meaningless. You need to compare with ppl in DMV area because this is where you live and COL is adjusted. OP is clearly not UMC. Our NW is 15x (but same HHI) and I don't even consider ourselves UMC.

You make ~$400k a year and have a $4.5mm NW and consider yourself middle class?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:You are DCUM UMC. You are in the top 3-5% of the DC metropolitan region and the top 2-3% of the nation. But DCUM considers you UMC because the audience here is largely self-selected from the wealthier portions of the metropolitan area.

In reality Middle class is about the 40th to 75th percentiles. That is realistically about $75K-150K. Nationwide, the top 10% (e.g. the 90th percentile) has an HHI of about $200K and around the DC area, that is about $250K.

Comparing your HHI/NW with nationwide avg is meaningless. You need to compare with ppl in DMV area because this is where you live and COL is adjusted. OP is clearly not UMC. Our NW is 15x (but same HHI) and I don't even consider ourselves UMC.

You make ~$400k a year and have a $4.5mm NW and consider yourself middle class?

I shouldn’t have said “don’t consider.” What I meant was we don’t feel like UMC in this area. Maybe because we don’t have fancy cars/big house.

[Anonymous]

Anonymous wrote:Early-mid thirties DINKS
HHI: 380K
Net Worth: 300k

Just remember that most people with your HHI should be trying to save at least 30% of their HHI in retirement, 529 plans, taxable brokerage accounts, and home equity. By mid-30s, at this HHI – unless it was much lower just a year or two ago or you’ve been paying down SL debt – your NW should already be more than $1M.

You are UMC, even for the DMV area.

[Anonymous]

Anonymous wrote:

Anonymous wrote:You are DCUM UMC. You are in the top 3-5% of the DC metropolitan region and the top 2-3% of the nation. But DCUM considers you UMC because the audience here is largely self-selected from the wealthier portions of the metropolitan area.

In reality Middle class is about the 40th to 75th percentiles. That is realistically about $75K-150K. Nationwide, the top 10% (e.g. the 90th percentile) has an HHI of about $200K and around the DC area, that is about $250K.

Comparing your HHI/NW with nationwide avg is meaningless. You need to compare with ppl in DMV area because this is where you live and COL is adjusted. OP is clearly not UMC. Our NW is 15x (but same HHI) and I don't even consider ourselves UMC.

*top 3-5% of the DC Metropolitan area* is not a nationwide comparison and the top 3-5% is, in no way, shape, or form, the middle.

[Anonymous]

"Class" is not about HHI. It's about your NW. You are not UMC.

[Anonymous]

Anonymous wrote:"Class" is not about HHI. It's about your NW. You are not UMC.

"Class" is typically defined by education level, income level and net worth. Sometimes additional factors like parents' education. But the most common shorthand--e.g., when economists talk about it, is income level--the class bands--LMC,MC, UMC are based on household income.

[Anonymous]

No. Net worth is low.

[Anonymous]

Anonymous wrote:

Anonymous wrote:You are DCUM UMC. You are in the top 3-5% of the DC metropolitan region and the top 2-3% of the nation. But DCUM considers you UMC because the audience here is largely self-selected from the wealthier portions of the metropolitan area.

In reality Middle class is about the 40th to 75th percentiles. That is realistically about $75K-150K. Nationwide, the top 10% (e.g. the 90th percentile) has an HHI of about $200K and around the DC area, that is about $250K.

Comparing your HHI/NW with nationwide avg is meaningless. You need to compare with ppl in DMV area because this is where you live and COL is adjusted. OP is clearly not UMC. Our NW is 15x (but same HHI) and I don't even consider ourselves UMC.

And you're wrong by any data-driven evaluation, national or local.

[Anonymous]

Entry to umc

[Anonymous]

Anonymous wrote:

Anonymous wrote:Early-mid thirties DINKS
HHI: 380K
Net Worth: 300k

Just remember that most people with your HHI should be trying to save at least 30% of their HHI in retirement, 529 plans, taxable brokerage accounts, and home equity. By mid-30s, at this HHI – unless it was much lower just a year or two ago or you’ve been paying down SL debt – your NW should already be more than $1M.

You are UMC, even for the DMV area.

OP here. I agree, Our HHI is new and our net worth is new as well. We are buckling down to save from hereon.