ShokWaveRider
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
I spent this morning looking around for some indication as to what designates if a retiree is Middle or Upper Middle class. What I find is mostly based on income. But assuming a retiree does not have an income as such, and lives off His/Her Net worth invested to their desired allocation (That may generate income), begs the Net Worth question. I have a feeling some people think they are in the middle class demographic when in fact they are not or are in the Upper Middle Class Demographic.
From what I have managed to find from checking Google etc. is that those aged 55-64 with a net worth of between $843k and $2.8m put one in that category. I am asking here as most people in this group, I would think (Assumption) fall somewhere in that group or above. Let us also assume that include a paid off residence.
Is this a good indication of Upper Middle Class in the case of a retiree? I have also not included SS or Pensions as we do not take those yet and fall into the 55-64 demographic.
I would be interested in the opinions of folk here.
From what I have managed to find from checking Google etc. is that those aged 55-64 with a net worth of between $843k and $2.8m put one in that category. I am asking here as most people in this group, I would think (Assumption) fall somewhere in that group or above. Let us also assume that include a paid off residence.
Is this a good indication of Upper Middle Class in the case of a retiree? I have also not included SS or Pensions as we do not take those yet and fall into the 55-64 demographic.
I would be interested in the opinions of folk here.