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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]http://money.usnews.com/money/personal-finance/articles/2014/04/24/what-it-means-to-be-middle-class-today?page=2

According to this middle class would be 50% higher and lower than the median income.  In the US that means: $25-76K.  So those of you making $350K or 800K etc should accept that you are rich.  I appreciate that you may not feel like what you think rich feels like because you don't have as big of a house or have luxury cars or something but seriously...you are [b]wealthy[/b].

Here's why you may not think you're wealthy--from the article: "As you work your way up the income ladder, inequality grows," he says. "If people make $104,096 per year, which puts them in the richest 20 percent of the population, they feel ‘relatively’ poor because they compare themselves to people in the top 1 percent of the income distribution – people making over $500,000, but primarily millionaires."[/quote]

[b]Wealth and riches are assets. A high income doesn't mean you have or are building wealth. [/b][/quote]

Fine.  But it does mean--at the time you are earning that high income, you are upper class, 1% whatever.  NOT middle class or upper middle class.   Why can people not just admit it when they are upper class or rich?  To say you make $350K or $500k or even $800k and claim to be in the middle class is insulting to people actually in the middle class.  You may be spending all of your half a million on stuff so think you're not rich because you're saving X for retirement and Y for college and spending x on your big mortgage but you have that money to do those things.  You don't have to be a billionaire to be rich in this country. [/quote]

Maybe I'm doing it wrong, but I draw a distinction between upper middle class, upper class and rich.  To me, upper middle class are the people you mention above that are earning maybe 250k to 550k or so.  The people earning from $550k and up, etc. are the 1% in this area and to me that means upper class.  To me, rich is someone that doesn't really work at a job and earn a salary.  Maybe someone who has a net worth in the 10M - 15M+ range and up who can work if they choose, but doesn't have to.  That to me is "rich" vs. upper class.  Rich being more a net worth kind of thing and upper class being more of a high HHI kind of thing.[/quote]

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