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Reply to "31% of millionaires think they're middle class"
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[quote=Anonymous]1. 700-800K in NYC/SF so cost of living is very high. DH is about to leave his current role to start a new company so will drop to 450K for a period soon. We have $5M net worth in our mid-30s. We feel UMC. 2. Comfortable but not rich because the cost of living where we are is very high. We are making decent money but so are many, many others here and inflation has been crazy for the UMC-basket of goods and services (e.g. the $400 hotel room from 2019 that everyone in our peer group wants is now $1000). It would cost $4M+ to get the type of house you can find for $1-2M in the DMV so we are still living in a condo. 3. I would feel rich if we could support a nice UMC standard of living (house in good school district, public schools, regular travel and entertaining) based on my assets alone. I think in our ecosystem it would take $15-20M. [/quote]
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