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

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Upper class doesnt have to work. They can live on dividends and businesses. [/quote]

This is nothing more than a definition of convenience so that you can sit there and claim that you are a humble denizen of the middle class despite earning a million plus per year because it takes a job to be able to continue to afford a principle home worth 3+ million and at least 1 vacation home worth more than a million and 3 to 5 luxury vacations every year.  And yes, I understand you only get rooms at the four Seasons and not suites.  And yes, I understand you don't have a private plane or a personal chef.  You're still rich.[/quote]

Why are you so angry about this? Being rich and being upper class aren't the same thing. Upper class is inherited wealth, not someone who worked their way up and now makes $1M in big law.

I'm not saying we live a humble lifestyle with a HHI of $500K but we also can't afford to not work. We didn't get any money from our parents or other relatives. No trusts or anything. We both work every day. We are not upper class. [/quote]

[b]You’re what that article would have called “working wealthy.” [/b]

It may seem like splitting hairs, but the higher you go on the income/net worth ladder, the differences become exponential. https://en.m.wikipedia.org/wiki/Income_in_the_United_States

These figures are based on tax returns. The top 25% income was $94k and the top 20% was $110k. Pretty close to each other. But there’s a huge gap between the top 5% ($252k) and the top 1% ($682k). And the top .1% is $3.7 million! [/quote]

That's exactly how I would describe us. We are wealthy, for sure, but we are working for that wealth every day.

And I think your point on the exponential differences. I'm sure you could make some sort of bell curve out of this, but to really appreciate the far ends you need to see the massive difference between 1% and .1%.[/quote]

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