The difference between upper middle and upper class

[thomsbrain]

When you're upper class, you live in an old house, your main car is a late-70's Jaguar or Land Rover, and you either paid cash for them or you inherited them. You wear a lot of L.L. Bean. Your furniture was built in 1920. You have three televisions, but they are all tube, covered in dust, and attached to mono VCR's. You eat out at the country club. You and your family can live indefinitely on your investments alone.

When you're upper middle class, you live in a brand new house and you drive an Escalade, both of which were 100% financed. You wear designer clothes and sunglasses that are only dark on the top part of the lens. You eat out at whatever the most expensive trendy Mc-Hot Spot is. You have three TV's, and they are all flat and shiny. You're two missed paychecks away from complete bankruptcy.

It's the Gatsby effect. Class is about more than just money.

 

[Special K]

Originally posted by: Rowboat
Upper class are sustained by income generated through assets.

Several people have mentioned this, but I don't think it is enough of a qualifier for upper class. After all, the whole point of retirement is to be financially independent and capable of living off of the money you hopefully invested during your working years. Nevertheless, if your retirement investment income affords you the same lifestyle you had while working, then you are not upper class.

I think it should be based solely off of net worth, which would encompass many of the other things mentioned.

 

[WildHorse]

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[JS80]

upper middle = wage earner
upper class = investment earner

 

[spittledip]

Originally posted by: JS80
upper middle = wage earner
upper class = investment earner

that sounds right

 

[Polish3d]

That's one definition, but I don't think it's all-inclusive. The corporate person earning 7-800k a year in salary or the firm partner earning a million/year are not upper middle.

I think the split is probably at around 350-450k/year and/or millions in the bank/stock et al

 

[Polish3d]

Originally posted by: Knobjockey

Originally posted by: alkemyst
upper class is usually falsely identified. There is a huge bridge between upper and anything middle though.

A lot of well-off middle classers like to think they are upper class, but they are not.

Personally I think upper class is those with at least $500k of DISPOSABLE income per year or more.

Agreed, our family income is around $400k+ , but with schooling for 2 costing $80k alone, not much of that income is disposable here in London, England. We are definately not upper class, not even close.

Joe

Is that college or private school?

 

[smack Down]

Originally posted by: Knobjockey

Originally posted by: alkemyst
upper class is usually falsely identified. There is a huge bridge between upper and anything middle though.

A lot of well-off middle classers like to think they are upper class, but they are not.

Personally I think upper class is those with at least $500k of DISPOSABLE income per year or more.

Agreed, our family income is around $400k+ , but with schooling for 2 costing $80k alone, not much of that income is disposable here in London, England. We are definately not upper class, not even close.

Joe

Sounds harsh I don't know how you do it. That only leaves 320K or about 6 times the median house hold income. Hell your so called schooling cost is almost twice the median household income.

 

[SirStev0]

Originally posted by: Random Variable
If you're in the upper middle class, you can afford a $200 hooker; if you're in the upper class, you can afford a $4000 hooker.

/thread.


May also want to add that you are Upper Class if you can use Tax Payer money to pay for said $4000 hooker.

 

[Throckmorton]

Originally posted by: Knobjockey

Originally posted by: alkemyst
upper class is usually falsely identified. There is a huge bridge between upper and anything middle though.

A lot of well-off middle classers like to think they are upper class, but they are not.

Personally I think upper class is those with at least $500k of DISPOSABLE income per year or more.

Agreed, our family income is around $400k+ , but with schooling for 2 costing $80k alone, not much of that income is disposable here in London, England. We are definately not upper class, not even close.

Joe

What are you spending all your $400k on that you can't afford the $80k?

 

[Polish3d]

Originally posted by: Throckmorton

Originally posted by: Knobjockey

Originally posted by: alkemyst
upper class is usually falsely identified. There is a huge bridge between upper and anything middle though.

A lot of well-off middle classers like to think they are upper class, but they are not.

Personally I think upper class is those with at least $500k of DISPOSABLE income per year or more.

Agreed, our family income is around $400k+ , but with schooling for 2 costing $80k alone, not much of that income is disposable here in London, England. We are definately not upper class, not even close.

Joe

What are you spending all your $400k on that you can't afford the $80k?

Do you have any idea how much servants cost these days?

 

[lightstar]

upper middle has one quad core computer; upper class has several

 

[TallBill]

Originally posted by: lightstar
upper middle has one quad core computer; upper class has several

That's a total lie. I'm lower class, and I have two quad cores. But I also have an account balance in the black because I know how to be smart with money.

I hate the phrase "living within your means". It is retarded, fuck your means. If you make more money, that doesn't mean you have to blow it all.

 

[Saint Michael]

Originally posted by: TallBill

Originally posted by: lightstar
upper middle has one quad core computer; upper class has several

That's a total lie. I'm lower class, and I have two quad cores. But I also have an account balance in the black because I know how to be smart with money.

I hate the phrase "living within your means". It is retarded, fuck your means. If you make more money, that doesn't mean you have to blow it all.

Wait, aren't you in the Army? What would you need to spend your money on anyway?

 

[Baked]

Originally posted by: TallBill

That's a total lie. I'm lower class, and I have two quad cores. But I also have an account balance in the black because I know how to be smart with money.

I hate the phrase "living within your means". It is retarded, fuck your means. If you make more money, that doesn't mean you have to blow it all.

I think people blow all their money on clothing every week, eating out 4 times a week, and going on vacation every 2 months.

Originally posted by: Saint Michael


Wait, aren't you in the Army? What would you need to spend your money on anyway?

I don't know, better armor and guns than the ones issued by the military?

 

[TallBill]

Originally posted by: Saint Michael

Wait, aren't you in the Army? What would you need to spend your money on anyway?

I'm currently a college student.

 

[TallBill]

Originally posted by: Baked

I think people blow all their money on clothing every week, eating out 4 times a week, and going on vacation every 2 months.

I think cars and houses are the biggest eater of money. Then after that "living fashionably" or going out every weekend. I had a peer that spent $1300 a month between his two cars.

Originally posted by: Baked
I don't know, better armor and guns than the ones issued by the military?

I had top notch equipment my entire time in.

 

[ultimatebob]

Originally posted by: Throckmorton
Upper middle class votes Republican. Upper class also votes Republican, unless they're gay, live in Hollywood, or are involved in Democratic politics.

Lower middle and lower class vote Democratic under the illusion that the upper class Democrats are somehow different than the upper class Republicans.

Fixed

 

[Eeezee]

It's very simple

Can you retire right now and still have a 6-figure income? If yes, you are upper class. Otherwise, you are not upper class.

Sorry, I think living in a nice house with nice things is meaningless if you're hopelessly indebted. Those people are definitely not part of the upper class no matter how much they strive for that image.

If you have so much money invested that you can maintain a 6-figure income without holding down a job, then you're just filthy rich and should get to spending some of that cash

 

[Polish3d]

So by that definition you'd need at least 2.5 million in the bank or so