Reply to What do you consider rich vs UMC?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I base it on quintiles and using HHI

Are you ready for a reality check DCUM

Poor 0-20%  under 22.5k

LMC 20-40%  22.5k to 53.7k

MC 40-60% 53.7 to 95.8k

UMC is 60-80% 95.8 to 162.6

Rich is 80% 162.6+

A more DCUM version of this is below.  Consider this a college graduate HHI chart

Poor 0-20%  under 49.7k

LMC 20-40%  49.7k to 94k

MC 40-60% 94k to 146.8k

UMC is 60-80% 146.8k to 258.2k

Rich is 80% 258.2k+

[/quote]

Flawed, because rich is not the top 20% but maybe the top 1%.

I would argue, it is about comfort level:

Poor: do not know where the next meal is coming from.  Income &lt; 30K, assets ~0.
LMC/WC: one paycheck away from disaster.  Income: 30-75K assets less than 5K
MC: Some safety net, but rarely eat out.  3-6 months from disaster. Most of the assets in the home. (Income :75K-150K), non-housing assets less than 50K
UMC: Money is tracked, but there is a strong safety net.  College is funded; retirement is funded. (Income &gt; 150K; assets less than 15 mil)
UC:  No need to work. Money works for you, provides more income than jobs.  Net Worth&gt;15 mil (500K income from money)

In my life, I have been poor/homeless.  I had no income, and $600 to my name.  I had no safety net, and there were no jobs.  I was an unfunded grad student during a recession.

I am now, by my definition, UMC; income ~ 180K; assets ~1.6 million.[/quote]
DP.. also ^ those %iles are national and does not account for col.  $100K in a rural area means you are living UMC.  In DC, SF, NYC.. it's lower middle class.[/quote]

lol top numbers are DC and bottom numbers are ward 3 try again

and yes rich is the top 20% sorry not sorry you might want to join the republican party there chief[/quote]
[b]In places like SF, median income is close to $200K[/b] and considered "middle class".

https://www.sfgate.com/expensive-san-francisco/article/SF-household-income-192k-middle-class-median-13637536.php

In DC, it's $75K.

In MoCo, it's about $100K

In Arlington, it's $100K

So yes, $100K is not "rich" in these high col areas.

[/quote]
LOL that's...not what that article says.[/quote]
You're right.. it's even worse...

[quote] In San Francisco, where the median household income is $96,265, the middle income range is $64,177 to an eye-popping $192,530.... Fremont, which was has a middle class income range of between $81,461 to $244,382.[/quote]

The range is based on area within the city.  But I can tell you having lived in that area, you are not going to live like middle class if you earn that little and want to own a home in a decent school district there.[/quote]

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