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[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]

You went from MC with assets of $50k to UMC with assets of less than $15M?

[/quote]

The difference between MC and UMC is income.

The difference between UMC and UC is assets.

Unemployed but 20 mil in the bank:  UC.

[/quote]

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