Reply to What do you consider rich vs UMC?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]You cannot just look at asssets unless they are upwards of $10M. Where it matters less and less whether one works or not depending on age. I think a 30 yr old with $10M and no salary is in a precarious position. Whereas a 45+ family not so much and if they are 60, then they are golden.

Would someone with $5M at age 50 and no salary for either DH or DW and two kids be considered wealthy? They believe in FIRE. Have dividend income but that’s it.

What about 50 yr olds with two kids and HHI of $150k (and a SAHM) and NW of $4M.

IMO, it’s a combination of HHI and assets. Also without age information, no point.

[/quote]

I agree, most people look at just HHI or just Net worth. It has to be a combination unless net worth is huge. Btw neither of the two examples you gave would be wealthy/rich in my books due to low or no HHI.[/quote]

Ok we are 40 with a net worth of over 3 million cash and investments, excluding our house. We make ~ 700k. Where would you put us? I would say firmly UMC.[/quote]

Very rich!!! [/quote]

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