<p>Ummm...in the San Francisco bay area, a one bedroom house in the ghetto is still $500k.
My parents make 700k a year and we're still upper middle class...not upper class...it just depends on your living standards.</p>
<p>
[quote]
"ahh, but no one (not even super-ridiculously rich) could just go out and buy a Ferrari Enzo. Ferrari hand-picked who it sold each Enzo to - you had to get an invitation from the company to have the privilege of paying $700,000 for one of only 399 built."
[/quote]
I know several Ferrari, multiple-Ferrari owners. There are several types of people out there that could easily purchase a Ferrari Enzo, whether businessmen, lawyers, etc. I know many people for whom $700,000 is a lot, but not that much. Yes, I am aware that you need invitation, however, its not as exclusive as you may think. Invitations were mailed to all current and previous Ferrari owners. And, Bugatti, ugly? Did I just hear the two words in the same sentence?! AHH! Bugatti Veyron is so gorgeous 16-cylinder amazing car :D.</p>
<p>
[quote]
IMO, I think anyone with a six digit salary can live comfortably as long as they manage their money well and not spend frivolously on unecessary things.
[/quote]
Living comfortably and making it by does not categorize you as upper-class. The meaning of upper class usually hints that you can spend your money frivolously. We live in a society where luxury goods are becoming more and more common, depending on what you wish to invest your money on. However, people making half a million need to, to some degree, scrimp and save. Living in a high-cost of living community, $500,000 will allow you to live comfortably, but definitely not luxuriously as upper-class.</p>
<p>BigRed - No one ever said you have to own a ferrari or bugatti to be upper class. The point of the statement was that being upper class, you would be able to make such a purchase without worrying about the cost.</p>
<p>ON the west coast, I would say that the perspective of "class", if you would like to call it that, is different from east coast. Many communities in the west coast see average home values in the 2-3 million range. I would say most in my community would consider an annual income of under $1 mill to be upper-middle class.</p>
<p>"$500,000 will allow you to live comfortably, but definitely not luxuriously as upper-class."</p>
<p>again, it depends on what your definition of "comfortably" is. As I've said my parents do not quite make a 500 grand salary but I think we live a little more than "comfortably" than the average american. of course in addition to salary my parents get bonus, stock options, etc...If you factor those in then yea my parents make over a million a year. If a 500 grand is "comfortable" what is 100 to 200 grand? Poor? I think people tend to forget the average american has a salary of around 30 thousand.</p>
<p>also shrek, i never said living comfortably and making it by categorizes a family as upper class (btw im surprised you think a six digit income is "making it by") I merely said you don't need 500 grand a year to "live comfortably." Having A six digit income will allow you to live comfortably.
I dont know, maybe we're all getting a little spoiled here.</p>
<p>Of course, location is a major factor; living in an affluent California suburb is not the same as rural Mississippi. Even so, you have to be ridiculously spoiled to think that $500k per year is merely "comfortable". One can live very lavishly on that kind of money. Now, as for whether that's considered upper-class, it depends on the definition of upper class. It's hard to define that in American society because there isn't a distinct social hierarchy like there was in old European societies. Originally, middle-class was the working class (merchants and artisans) and upper-class was landed gentry/aristocracy. One could argue that there is no true upper-class in American society because there is no such as thing as nobility. However, there are plenty of old-money families (Rockefellers for example) that could be considered upper-class. In that case, self-made working people (even the wealthiest doctors and lawyers) would be considered middle-class. It all depends on the definition of the classes as it pertains to American society.</p>
<p>i agree with ForeverZero.</p>
<p>Alright, I cannot see you people would say 500k isn't middle class. I live in an almost-affluent suburb Silicon Valley of California where average 3 bedroom homes cost 1.5-2.5 million. My parents' combined make just above 200k a year without taking taxes into account. I would say we live pretty comfortably. I really cannot picture 500k as not being upper class unless you have horrible money management skills and believe living 'comfortably' is having a huge house, multiple high-end electronics, and frivolous spending.</p>
<p>THANK YOU shinseki, couldnt have said it better myself.</p>
<p>I admit my perspective is skewed. I do know that views on wealth differe greatly from east coast to west coast. However, all I am trying to say is a $500k income is not unfeasible. I never meant for yall to think that 500k income is only "comfortable and making it by". I do believe $500k is a large amount and you can live rather nicely. However, I believe that "living lavishly" and "upper-class" are terms that 98% of Americans will never experience or be a part of. A $500k income is a great deal of money, however, is it that extra-ordinarily high? We live in a society where life seems to revolve around monetary value (or so many people believe). We have seen the greatest new influx of billionaires in this past year than any previous year. More and more people are rakin in more money, and although most would agree a 500k income is a lot, it is not an extraordinary amount. Ever since the past, the upper-class has only consisted of a very small group of select individuals. It has always been viewed as "unreachable" or "the very wealthy". Is 500k really all that much? From my perspective, no. I admit, this is skewed from a west-coast view where my school median income hovers at 490k, million dollar homes are common, and having 5-6 cars is not unusual. I guess it really depends on where you live, but ultimately, $500k, even though it is a lot of money, its not an extraordinary amount.</p>
<p>I think upper middle class is probably the most diverse economic class in the country and distinct from the "middle class". To me, middle class is between $40,000 -100,000 if not more in income. Upper middle class consists of everybody from about $150,000-$500,000. Of course, someone making 500k lives differently than someone making 150k, but I really have trouble defining them as "upper class". My dad makes about 300k after taxes, we drive two luxury cars and my house is pretty decent, but I would not consider myself upper class by any stretch of the imagination. I'll probably have to pay full price for college, but my family will def feel the 40k a year missing. In Long Island, I wouldn't consider anyone upperclass unless their house cost between 1.5 and 2 million. You can definitely buy a HUGE house for under this price, but in my opionion I can't call someone upper class unless he could quit his job and still keep up his millionaire lifestyle unchanged for years. I once had a friend whose dad made 900k and still defined himself as upper middle class, so I guess the more money you have the more you realize what it takes to be called really rich.</p>
<p>I would classify it like this:
Middle class: the majority of America
Upper middle class: the people you would consider as "well-off" or "wealthy"; maybe like 15%; successful businessmen, lawyers, etc.
Upper Class: the cream of the crop; maybe like 1% or 2%; CEOs, owners of large companies, celebrities, athletes, people with old money</p>
<p>(changed upper middle class from 10 to 15%, which seems more reasonable)</p>
<p>I agree upper-middle class is about the upper 10%, mabye 15%.</p>
<p>From Wikipedia: <a href="http://en.wikipedia.org/wiki/Class_in_the_United_States%2C_circa_2004%5B/url%5D">http://en.wikipedia.org/wiki/Class_in_the_United_States%2C_circa_2004</a></p>
<p>"Paul Fussell lists nine classes in America:</p>
<pre><code>* Top out-of-sight: the super-rich, heirs to huge fortunes
Upper Class: rich celebrities and people who can afford full-time domestic staff
Upper-Middle Class: self-made well-educated professionals
Middle Class: office workers
High Prole: skilled blue-collar workers
Mid Prole: workers in factories and the service industry
Low Prole: manual laborers
Destitute: the homeless
Bottom out-of-sight: those incarcerated in prisons and institutions
</code></pre>
<p>For Fussell, class is more about culture and lifestyle than income bracket. For instance, people in his "High Prole" class may sometimes make more money than others in his "Middle Class", but they will spend it quite differently."</p>
<p>I agree with shrek, and in using shrek's ideology and with this list everything from upper-middle class to even low prole is categorized as middle class (most of the list would be middle class).</p>
<p>And using the 500k example, that wouldnt place you in the upper class portion as defined by Paul Fussell.</p>