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[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]

Here we go with the fantasies and wet dreams about what is "rich" in middle America. Is it also cheaper for them to fly, buy food, send their kids to college, get healthcare, and  buy a car?[/quote]
In a way, yes it is more expensive in CA because their EPA rules are pretty strict. There is a gas tax there because of the EPA rules.  Health insurance does vary by state.  Some states have higher taxes when buying and owning a car (example - VA car tax).  Sales tax and income taxes are high in CA and NY are high. So yes, living in those states is more expensive than living in TX for example where they have no income tax and low sales tax.[/quote]

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