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]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

[/quote]

True wealth is the ability to not need to work a job either way. Neither is “wealthy”. [/quote]

We have a $2-3m HHI. I always tell my kids that we are not rich because they have to work to support themselves. Rich people don’t have to work. While we have enough saved to send them to college and grad school, they are on their own to support themselves and their future families.

My one kid says we are the lowest of the rich. This is very true. [/quote]

Even the lowest of the rich do not actively work. They own properties, hotel chains, buildings, real estate, which gives them the income.  The most work they may do is sell land to a rural county for development use. Not active hands on work. [/quote]

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