Reply to What is the “upper” in upper middle class?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]A number of baby boomers moved from UMC to lower upper class. This would be educated professional with a net worth of over $8M. [/quote]

Interesting. They grew up UMC, then moved to lower upper class? Where did this move happen?

I've seen the reverse with some friends who are now adult children of baby boomers/Gen X parents. They grew up UMC/"low" rich, but professional choices/other extenuating circumstances preclude living like they did as kids through their mid-20s. A couple are subsidized by their parents though not all. I grew up working class and DH and I have ended up doing well. One of these friends has ended up rather bitter even though she will probably inherit 6 figures or more when her parents pass away. [/quote]
My kids are growing up UMC, though my wife and I grew up solidly MMC. It’s going to be tough for our kids to maintain this level, or go higher. Everything would have to break the right way for them- schools, spouses, career etc. The ladder in the US seems to have gotten very slippery in the last couple of generations. [/quote]

Everything DID break right especially for older professional baby boomers. Cheap education and housing followed by housing boom and rising stock market. But they are too busy traveling to post here. [/quote]
Oh, yeah. The baby boomers took full advantage of the various educational and economic infrastructure that the generations before them built up through their sacrifices. Affordable education, cheap housing, an economy that provided plentiful middle class jobs. The baby boomers were born on third, but absolutely certain they hit a triple.

What’s worse, though, is that they then proceeded to pull the ladder up behind them. [/quote]

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