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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]I think 300K HH income is the approximate cutoff for not longer "middle" class and entry level for wealthy. That's the top 5% of households. An individual earner (not combined) making $300K is at the 98th percentile. I don't think if the spouse is not working or working only part-time because they feel the time working isn't worth it is somehow "foregoing" higher status. You're making a choice that only a very privileged few have, the "sacrifice" is "merely" living very comfortably. And before someone says "income is not wealth" I think everyone with a net worth of $3 million and/or a household income of $300K or more is wealthy. [/quote] 300k HHI is fairly standard and average for the DC area. It's a good income and one that I personally lived with a long time, but it's not wealthy and it's not even a UMC lifestyle in many cities. [/quote]
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