Rich v Affluent

[Anonymous]

There have been a number of threads insisting that people earning $300,000, $400,000, and more are not rich (and the converse statement that people with $200k HHI are not even middle class). Perhaps the problem lies with the definition of "rich." Some people say one is rich when he can live off passive income, and others say that rich would encompass those who manage to own a home in a major city (the city, not the surrounding area), send their kids to private school, international travel, and still have money left over to find retirement and college accounts.

Would it solve the problem by calling people "affluent" and "extremely affluent"? If so, I would say the following works for an INDIVIDUAL income in the DC metro area:

Under $30k = Poor
$30k to $50k = Lower-Middle
$50 to $80 = Straight Middle
$80 to $120 = Upper Middle
$120 to $200 = Affluent
$200+ = Very Affluent

Double these figures if talking about HHI.

[Anonymous]

200k in the DC area is "very affluent"?

LOL, what are you smoking?

[Anonymous]

It's hard to categorize brackets with a broad scope like that without context. You need to also look into age, career level, debt, dependents, etc.

[Anonymous]

Anonymous wrote:200k in the DC area is "very affluent"?

LOL, what are you smoking?

Yes it is

[Anonymous]

Anonymous wrote:There have been a number of threads insisting that people earning $300,000, $400,000, and more are not rich (and the converse statement that people with $200k HHI are not even middle class). Perhaps the problem lies with the definition of "rich." Some people say one is rich when he can live off passive income, and others say that rich would encompass those who manage to own a home in a major city (the city, not the surrounding area), send their kids to private school, international travel, and still have money left over to find retirement and college accounts.

Would it solve the problem by calling people "affluent" and "extremely affluent"? If so, I would say the following works for an INDIVIDUAL income in the DC metro area:

Under $30k = Poor
$30k to $50k = Lower-Middle
$50 to $80 = Straight Middle
$80 to $120 = Upper Middle
$120 to $200 = Affluent
$200+ = Very Affluent

Double these figures if talking about HHI.

No one has stated the converse statement you listed above (that someone making 200k is not even middle class). Just because people think 300k is a middle class income doesn't mean they, therefore, think 200k is a lower class one.

[Anonymous]

100K in dc is not upper middle. Your numbers are off by a fact or two or more. (maybe not at the low end)

But it also depends on how you define the attributes of the classes. I do not like defining status based on income.

According to your chart, I am affluent. I do not feel affluent. I am comfortable, but only because my house was purchased in 1999.

HHI of about 195K, family of three. We can not take nice vacations. But, we always have decent food on the table, drive reliable and safe cars (not luxury), and the house is cool (A/C). I have to think about money, but do not worry about it. There is always enough to pay the bills. And I am on target for retirement savings.

To me, that is middle to upper middle.

[Anonymous]

Anonymous wrote:200k in the DC area is "very affluent"?

LOL, what are you smoking?

LOL, you just demonstrated the argument in the other thread about rich!

And yes....I'd say a single earner making $200k is very affluent, as is a $400k couple. If you don't, you're doing something wrong. I, for example, earn $110,000, and live quite a comfortable UMC lifestyle. If I made double that - $200k - I'd feel very affluent.

[Anonymous]

Anonymous wrote:

Anonymous wrote:There have been a number of threads insisting that people earning $300,000, $400,000, and more are not rich (and the converse statement that people with $200k HHI are not even middle class). Perhaps the problem lies with the definition of "rich." Some people say one is rich when he can live off passive income, and others say that rich would encompass those who manage to own a home in a major city (the city, not the surrounding area), send their kids to private school, international travel, and still have money left over to find retirement and college accounts.

Would it solve the problem by calling people "affluent" and "extremely affluent"? If so, I would say the following works for an INDIVIDUAL income in the DC metro area:

Under $30k = Poor
$30k to $50k = Lower-Middle
$50 to $80 = Straight Middle
$80 to $120 = Upper Middle
$120 to $200 = Affluent
$200+ = Very Affluent

Double these figures if talking about HHI.

No one has stated the converse statement you listed above (that someone making 200k is not even middle class). Just because people think 300k is a middle class income doesn't mean they, therefore, think 200k is a lower class one.

People on other threads have said that they don't see how it's possible to "get by" on less than $250,000 a year. So yes, I'd say they're claiming that's not middle class.

[Anonymous]

Anonymous wrote:

Anonymous wrote:200k in the DC area is "very affluent"?

LOL, what are you smoking?

Yes it is

Seriously, what is it? It's obviously some good stuff, I want some.

[Anonymous]

Anonymous wrote:100K in dc is not upper middle. Your numbers are off by a fact or two or more. (maybe not at the low end)

But it also depends on how you define the attributes of the classes. I do not like defining status based on income.

According to your chart, I am affluent. I do not feel affluent. I am comfortable, but only because my house was purchased in 1999.

HHI of about 195K, family of three. We can not take nice vacations. But, we always have decent food on the table, drive reliable and safe cars (not luxury), and the house is cool (A/C). I have to think about money, but do not worry about it. There is always enough to pay the bills. And I am on target for retirement savings.

To me, that is middle to upper middle.

OP here. Except I said these figures were for singles, and said to double it for HHI (so there's your factor of two you said I'm off by). So, your $195k would equate to the $160,000 to $240,000, which is upper-middle. To get to affluent. It would be the next category up - $240,000 to $400,000.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:200k in the DC area is "very affluent"?

LOL, what are you smoking?

Yes it is

Seriously, what is it? It's obviously some good stuff, I want some.

you mean to tell me that an individual earning over $200,000 isn't very affluent? I earn half that and I'm very comfortable.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:200k in the DC area is "very affluent"?

LOL, what are you smoking?

Yes it is

Seriously, what is it? It's obviously some good stuff, I want some.

you mean to tell me that an individual earning over $200,000 isn't very affluent? I earn half that and I'm very comfortable.

Yes, I do. And a family making $400k isn't either. Welcome to DC.

[Anonymous]

The out-of-touch DCUMers are an example of why middle America is furious with the elites.

I know young families earning $100,000 - and they rent a decent townhouse with a bedroom for each of their kids, own two cars, go to the beach for a week on vacation, go to moderate restaurants, and that type of thing. Straight middle-class life.

[Anonymous]

Anonymous wrote:The out-of-touch DCUMers are an example of why middle America is furious with the elites.

I know young families earning $100,000 - and they rent a decent townhouse with a bedroom for each of their kids, own two cars, go to the beach for a week on vacation, go to moderate restaurants, and that type of thing. Straight middle-class life.

Sure- middle class life. A townhouse. Ocean City for a week. Hardly affluent.

[Anonymous]

Anonymous wrote:The out-of-touch DCUMers are an example of why middle America is furious with the elites.

I know young families earning $100,000 - and they rent a decent townhouse with a bedroom for each of their kids, own two cars, go to the beach for a week on vacation, go to moderate restaurants, and that type of thing. Straight middle-class life.

These DCUMers are not out-of-touch per se but it's just that they're living in their own bubble, as well as the furious middle America. The DCUMers middle class statement is not unjustified given that it needs to be adjusted for cost of living.