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View Poll Results: Classify yourself
Poor, working class 2 2.30%
Middle class 38 43.68%
Upper middle class 44 50.57%
Rich class 3 3.45%
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Old 06-27-2007, 05:57 PM   #41
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UMC by Wikipedia definition for sure, but who cares anyhow?
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Old 06-28-2007, 12:16 AM   #42
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Originally Posted by Meadbh View Post
UMC by Wikipedia definition for sure, but who cares anyhow?
Don't know about that. Audrey is in a class by herself!
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Old 06-28-2007, 12:46 AM   #43
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Thank you all for participating. I have the feeling most were being modest. Anyway, below is the classification by the US Census Bureau:


Middle class" is a squishy concept if ever there was one.

If we define it solely by income, then according to the U.S. Census Bureau, a household income of $36,000 to $57,657 in 2005 landed you squarely in the middle class. If you want to expand the definition to include "lower" and "upper" middle class, the range widens considerably, from $19,178 to $91,704. Here's the breakdown, with each "quintile" representing 20% of U.S. households:
Population groupLower limitUpper limit



1st quintile
$0
$19,177
Poor/working poor
2nd quintile
$19,178
$35,999
Lower middle class
3rd quintile
$36,000
$57,657
Middle class
4th quintile
$57,658
$91,704
Upper middle class
5th quintile
$91,705
Bill Gates?
Upper class


http://articles.moneycentral.msn.com/SavingandDebt/LearnToBudget/TheSecretToSuccessInTheMiddleClass.aspx
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Old 06-28-2007, 01:01 AM   #44
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I think that the values provided by Sam puts a lot of people that consider themselves solidly middle class into the upper/rich class.

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Old 06-28-2007, 10:03 AM   #45
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Quote:
Originally Posted by Sam View Post
Thank you all for participating. I have the feeling most were being modest. Anyway, below is the classification by the US Census Bureau:


Middle class" is a squishy concept if ever there was one.

If we define it solely by income, then according to the U.S. Census Bureau, a household income of $36,000 to $57,657 in 2005 landed you squarely in the middle class. If you want to expand the definition to include "lower" and "upper" middle class, the range widens considerably, from $19,178 to $91,704. Here's the breakdown, with each "quintile" representing 20% of U.S. households:
Population groupLower limitUpper limit



1st quintile
$0
$19,177
Poor/working poor
2nd quintile
$19,178
$35,999
Lower middle class
3rd quintile
$36,000
$57,657
Middle class
4th quintile
$57,658
$91,704
Upper middle class
5th quintile
$91,705
Bill Gates?
Upper class


http://articles.moneycentral.msn.com/SavingandDebt/LearnToBudget/TheSecretToSuccessInTheMiddleClass.aspx
Going by this I am poor; but I have very low expenses.
I was middle class while working.
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Old 06-28-2007, 10:11 AM   #46
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Originally Posted by Khan View Post
Going by this I am poor
May be, may be not. Those numbers are for households, which usually consist of more than one persons.
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Old 06-28-2007, 10:34 AM   #47
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Sam you are right about "households" .. that I think could also skew perceptions about income of people of different races, ages, genders, etc. A working couple with 3 or 4 kids is going to be in a different effective money "class" than a single yuppie or an older couple with no kids.

Of course it's the American Dream to be middle-class, so why shouldn't we define it as generously as possible!! ;-)
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Old 06-28-2007, 10:44 AM   #48
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It seems weird to think a household income of $100,000 qualifies as "upper class". Most (many?) dual income households graduating with degrees (even "only" BS's) in business, engineering, or the sciences are earning $100,000/yr only a few years after college. Even around here in a relatively low cost of living location, I would say subjectively, $100,000 would not afford one an "upper class" existence, even if you spent every penny of it. Most definitions of class structure include many more elements than mere income.

As someone else pointed out though, who cares?!? We are who we are and if we are worried so much about how others perceive us, maybe we should be graded down a rung or two on the social ladder...
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Old 06-28-2007, 10:55 AM   #49
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I hear you. But don't forget get the fact that it only seems weird because you are already in that class.

On this board, 1MM net worth is not considered much (an understatement). Outside of the board, it's a significant sum by any and all measures. Everything is relative.
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Old 06-28-2007, 10:55 AM   #50
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It's all relative. The high paying professional jobs tend to be near the major population centers.

So if you live in Manhattan you would struggle with a $100,000 income. If you live either of the coasts $100000 wouldn't let you qualify for one of the "good" houses.

I therefore wouldn't say that someone in one of these situations is upper class. However if you had that kind of income in the south or in the midwest then you definitely would be doing well.
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Old 06-28-2007, 11:06 AM   #51
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My wife retires tomorrow, I retired almost 3 years ago. We will be in the upper middle class/upper class range with our pensions and social security by the chart. But we live in Sacramento, California, and I believe we are in a high cost area relative to most of the country. We will probably be able to do some travel, and some remodeling, but nothing excessive. We may have had it so good for so long, we don't know what excess means anymore.
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Old 06-29-2007, 06:41 PM   #52
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Like some others, my classification is based on Wikipedia's information. I fit into 'middle class' based on my own income (nearly 'upper middle class'), but 'upper middle class' for the household (I have a roommate, but it's just technically a 'household', no kinship or affectionate relationship between us).

Of course, when you compare my $65K to the local area, it's not that far over the median income for this county. In 2000, that was $44K (for males).... given 7 years, it seems like it could be reasonable. Then again, I'm "only" in my 20s. Hopefully there's still a lot of income growth potential.
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