You lost me at “vacation”, like that’s a real thing? (/s)
And the difference between that level of “upper class” vs the truly wealthy is insane.
Unless you’re in places like CA or NYC, $170k allows for a very comfortable life. It’s nothing to scoff at and it is absolutely beyond what most people in this country have.
But when thinking of the “upper class,” I think most people picture lush lives. Mansions, yachts, foreign vacations, private schools, house staff, etc.
I don’t think most people imagine someone who lives in a nice suburban neighborhood, saves enough money for retirement that they actually expect to retire in their 60s, and takes a modest vacation every year. But that’s closer to what $170k gets you. It’s comfortable and it’s a life most people would kill to have. But it’s a whole lot closer to a stereotyped “middle class” experience than it is to what most people imagine “upper class” to look like.
Zorsith@lemmy.blahaj.zone 3 weeks ago
MajorasTerribleFate@lemmy.zip 3 weeks ago
I was curious how many U.S. households earn at least $170k, and this website responded to asking about 170k by saying that the 80th percentile is $165,068.
yeather@lemmy.ca 3 weeks ago
So the top 20%, seems a reasonable metric to consider wealthy.
MajorasTerribleFate@lemmy.zip 3 weeks ago
I’d go with 20% as upper class. I think of “wealthy” as having money that lets you come and go as you please, just buy a fancy car if you want without really having to think about the finances of it.
There is a D&D-type game that measures wealth as a rating of 0 to 5, and you can make essentially unlimited purchases of items costing up to 1 below your wealth rating essentially at-will. So someone can buy a sandwich whenever, someone else could take a decent vacation/cruise whenever, another could buy a decent car without worry, one could buy a nice house like it’s nothing, and finally someone who could buy a mansion or private jet without real concern. Those in the couple-hundred-million to billions range.
I’d draw the Wealthy line somewhere in the mid-4 range on that scale. You could also consider it as “the point where safe/moderate investments could continue supplying a family plenty of comfort without working for two+ generations”.
pohart@programming.dev 2 weeks ago
Don’t get me wrong I’d love to be tough 20%, but they’re still so solidly middle class it’s not even funny.
yeather@lemmy.ca 2 weeks ago
I believe we are arguing over semantics of upper class vs wealthy.