125,000.00 or more.
In the south or midwest.
Northeast? 150 to 200K.
California, WA or OR coast? 500,000.00
What I wonder about is how many of those families never get out of debt, with college loans, McMansions, SUVs, pricey vacations, forever credit card debt, Whole-Foods type grocery spending, etc, etc.
But in Columbus Mississippi one could live very, very well.
A trust fund and an obnoxious attitude.
I think the amount varies widely depending on where you live. It also depends on your lifestyle. If you earn $500,000 per year in some cities, you live in a 1,200 square foot condo and pay half your income in tax. A lot of people wouldn’t consider that a good life. The California real estate market turns everyone but the rich into indentured servants to the bank for their entire lives.
All I’ve got to say is that the very top is moving into the stratosphere and the median of the rest is moving down because few remember that not so long ago the top 5% began at a much higher number.
Almost 20 years ago about $100K was not even in the top 5%.
The bottom has fallen out for the average Joe.
I'm not sure I would count that as upper middle class anywhere in the USA... certainly not in any metropolitan area.
I consider assets more important than income.
If you have $3-5 million in financial assets, then it doesn’t really matter if your income is only $60K, right? If money is required, you can produce plenty. At the same time, you hold the taxman at bay with an average income.
100K isn’t upper middle class anymore, other than perhaps in rural areas.
It’s middle class, but not upper middle class.
Its all relative to costs. In NYC, or Silicon Valley, you want to be UPPER middle class, can’t see how anyone with a family and kids could consider themselves there if they aren’t in the upper 300 or 400k a year minimal range.... Same in New York or DC... DC may even be higher these days.
I’d say in Pittsburgh, PA solid Upper Middle Class is upper 100s to 200k to start. You can live comfortably on less here, its a town where housing costs are not insane... but to be the “UPPER MIDDLE CLASS” as traditionally portrayed, generally looking at around upper 100s to 200 range to start having that lifestyle.
Obviously the definition is subjective, I would suggest Upper Middle Class could be defined as having $50,000 - $100,000 of disposable income after the mandatory and essential costs have been paid (taxes, housing costs, utilities, insurance, and food).
A job with the government is the quickest path to becoming a member of the upper middle class.
$2 million in cash plus properties
What does it take to be upper middle class?
Being able to ask, “Pardon me, but would you happen to have any Grey Poupon?” and knowing that the answer will be “But of course!”
;^)
That would be virtually every UAW auto worker in S.E. Michigan who has the opportunity for overtime..........go figure.
$100,000 maybe in nice places like Nebraska
at least $500,000 in LA or SF or NYC
What does it take to be upper middle class? Quiet farts.