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

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

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[quote=Anonymous][quote=Anonymous]You’re upper class if you can buy a $30 million dollar house today; pay with cash only and with not a worry about the financial impacts of the purchase. [/quote]

That's BS. There are tiers in UC just like in middle class layers (LMC, MC, UMC).   There is a book on it called "Richistan".  The lowest rung is 10mil NW, maybe a bit higher today, but not significantly higher, not to the tune of having extra 30 mil laying around to pay cash on a home.  You are high.  Even today a family with 10 min NW can retire in comfort (UMC lifestyle with eating out and travel and outsourcing housework) not penny pinching at all unless they insist on living in multi-million dollar primary home and a second home.  That's just poor fund allocation, not a "UMC struggle".

I posted above breaking down the woes of the NYC poster feeling she is UMC because of her kids attending private schools with the kids who are upper rungs of richistan and comparing her lifestyle and discomforts of not affording every single luxury to the jet and yacht crowd.  There are people in middle richistan who are wealthier than her and can afford luxuries she misses but would find a way to feel inadequate compared to the billionaire or near billionaire class who can buy power, influence, own large charity organizations, donate profusely to political campaigns and can afford huge losses investing into new companies that never take off.  The "struggles" of the fraction of a percent are not relevant when we are talking about middle classes. We are also forgetting majority is not even middle class anymore. The curve of wealth distribution has a line kissing the x axis for 90% of people and shooting straight up into infinity and parallel to the Y axis after you cross into 0.5%.
Yes, it only makes sense that people in lower rungs of UC *feel* UMC.. but this is irrelevant to the big picture. [/quote]

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