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Reply to "What do you consider rich vs UMC?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]For me, a net worth of at least 10 million is rich. 1-10 mil is UMC [/quote] This is ridiculous. If you have a net worth of greater than $600,000, you're in the top 20 percent of Americans. So obviously, if your net worth is more than $1 million, you cannot be described as middle class, no matter how you modify it.[/quote] Old thread but... Having a large net worth does not really say you are not living a middle class life style. Using the 4% safe withdrawal rate, if you have $2M, you should live on $80k. A nice income but still middle class. The big advantage, you don't need to work for money. “If you have a million and live like a millionaire, you won’t have a million for very long.”[/quote]
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