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Old 03-21-2018, 09:30 AM
 
8,711 posts, read 8,906,804 times
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According to the article, we make the cut for a family of 5. But I also live in MA. Needless to say there's a reason why I drive a Ford Taurus.
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Old 03-21-2018, 09:56 AM
 
8,272 posts, read 3,452,461 times
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Quote:
Originally Posted by AlaskaErik View Post
Do you make the cut? This article defines upper class according to family size and income. I make the cut, but sometimes I sure don't feel like I do.

https://www.cnbc.com/2018/03/20/how-...per-class.html
This sounds more like describing the top yearly earners, say 10% or 1%, along with their lifestyle. Which has to include locale, family and one's current station in life. That is, early vs later earning years.

You certainly could live like upper class with a high income. And maybe that is more what the topic means. And if that high earning power is persistent along with a proper life style, you might eventually be in the upper class. Which I would base more on accumulated wealth.

If you are wealthy and properly invested, you can live off of returns, passive income. And that income could be lower than some current yearly high earner.
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Old 03-21-2018, 10:09 AM
 
3,583 posts, read 1,510,560 times
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Again, income is not social class, though they are correlated.

It is absolutely possible to be socially lower-middle or high-prole and earn 7 or 8 figures or even more. It is also (though far less common) to have an upper-class lifestyle while living in "genteel poverty".
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Old 03-21-2018, 10:25 AM
 
13,006 posts, read 12,434,284 times
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Hm. I'm single and am just about making six figures. I have always known I made a decent income, but in Denver it's not exactly spectacular. That said, I'm also acutely aware that as a single person my "upper income" doesn't mean much if things go pear-shaped with work or my health. It could all get turned upside down in a day if I developed a serious illness or ran into career troubles.

I'm amused that I'm considered upper income, but I have to admit that this year was a turning point. I kind of have enough to breathe right now. That's a good thing.

I have thought about leaving Colorado and moving to Ohio to live the luxe life and have a lot more security. The cost of living there is so much lower and I could afford so much more (I work from home, so salary would stay the same). It's a lovely state, but I do love my Colorado life. I dunno.
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Old 03-21-2018, 10:29 AM
 
Location: Brawndo-Thirst-Mutilator-Nation
15,140 posts, read 15,198,298 times
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Very much depends on where you live. Someone making 30K can live a very nice lifestyle in certain areas.....in other areas they would be homeless or close to it.

I grew-up in Seattle during the time when it was a great place for the average working-Joe. Now, HA, it is a richy-rich city. Same way in many cities across the country.

Last edited by tickyul; 03-21-2018 at 11:32 AM..
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Old 03-21-2018, 10:44 AM
 
Location: Formerly Pleasanton Ca, now in Marietta Ga
4,109 posts, read 3,400,520 times
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I always wonder what it feels like to be upper class. I well surpassed the number, but feel like I'm lower middle class.
I'm quite comfortable and live in a pretty nice house, but drive vehicles that have 135k and 198k miles on them and bought used at 121k and 89k miles.
Still if I look around I always feel like I don't quite match up to,people surrounding me.
I guess it's a mental thing.
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Old 03-21-2018, 10:52 AM
 
8,272 posts, read 3,452,461 times
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Upper class, you have no financial worries of the normal costs of daily living. Food, housing, utility bills, schooling, transportation, HC. Work is optional.

Your lifestyle is comfortably moderate or higher, depending on your priorities.
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Old 03-21-2018, 10:56 AM
Status: "Ready to fly." (set 2 days ago)
 
Location: Here and now.
10,371 posts, read 2,809,607 times
Reputation: 11112
Quote:
Originally Posted by turf3 View Post
Again, income is not social class, though they are correlated.

It is absolutely possible to be socially lower-middle or high-prole and earn 7 or 8 figures or even more. It is also (though far less common) to have an upper-class lifestyle while living in "genteel poverty".
This is what I think of, as well, when I think about it at all.

To put it quite bluntly, "upper class" isn't just money, it's OLD money, family, social connections, schooling, and a whole set of other traits. The Kardashians, for example, are not upper class. They're just rich. It isn't the same thing.
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Old 03-21-2018, 10:58 AM
 
Location: Aurora Denveralis
2,961 posts, read 1,012,279 times
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I'm probably the only one who is always bothered by discussion that tries to blend "income" and "class." One is a fixed figure that has endlessly variable value and influence. The other is an utterly subjective evaluation that nearly always leads to false equivalence, where every person in the discussion has their own definition... which they assume is shared by all the others.

It comes, I think, from confusing the technical/mathematical concept of classes with the vague notion of social elevation.
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Old 03-21-2018, 11:10 AM
 
Location: Land of Free Johnson-Weld-2016
6,474 posts, read 13,403,963 times
Reputation: 6404
Quote:
Originally Posted by Hoonose View Post
This sounds more like describing the top yearly earners, say 10% or 1%, along with their lifestyle. Which has to include locale, family and one's current station in life. That is, early vs later earning years.

You certainly could live like upper class with a high income. And maybe that is more what the topic means. And if that high earning power is persistent along with a proper life style, you might eventually be in the upper class. Which I would base more on accumulated wealth.

If you are wealthy and properly invested, you can live off of returns, passive income. And that income could be lower than some current yearly high earner.
Could not agree more. How are you upper class if you have to work for a living? It would make sense to base that on assets or something...Anyway this is america, we have no upper class. But a working stiff with 20k per year and $500 rent is just as much as a working stiff with $200K per year and 700K mortgage.

Some people have free houses they inherited, and millions of $$. They may make 50K or whatever in interest every year. Are they poor? Some people have property that is in trust, so it looks like they don't have a lot of assets or income. Are THEY poor?
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