Reply to Why do people who make 500k + not "feel" rich?

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[quote=Anonymous][quote=Anonymous]First, let's define what is rich.

I imagine no one is going to disagree that having an apartment on Park or Fifth in New York, plus a big house in the Hamptons and a ski chalet in Colorado and a pied a terre in Paris and an art collection of known names is definitely someone who is rich.

A family with two working parents and a HHI of $500k and a Bethesda colonial is nowhere near that category. So if such a family is rich, what does it make the above family?

There's a reason why "upper middle class" exists as a demographics and your typical HH of two working professional parents bringing home together 500k very much falls into the category of comfortably off upper middle class.

They reason they don't feel "rich" is because they're not rich. Comfortable and protected from most of life's financial ills, yes, but rich? No.

[/quote]

Ironically - there are people on other threads I've read trying to argue that 300-500k is not upper middle class either.  They think its middle.  [/quote]

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