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Reply to "Where do you draw the line between upper middle class and upper class?"
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[quote=Anonymous]I once read an article referencing the “working wealthy,” which is basically the next income bracket after upper middle class. I would place the limit of UMC at a HHI of around $350k in this area. Thats the amount made by 2 higher level GS employees. Basically two solid professional incomes, or one high income + a SAH or part time working partner. After that, you’d get into higher income levels, but a lot of those people still consider themselves upper middle because their livelihoods are still based on income. Whereas the really wealthy may or may not be high earners, but they have inherited wealth that means that they can take lower paying jobs at non-profits and such and live off of trust funds and live in a house that’s been in the family for generations. [/quote]
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