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Sorry, I should have been stricter with my phrasing. There is no place on earth where you can consider yourself middle class only having $24m in net worth. Wha
by hueving 10y ago
Sorry, I should have been stricter with my phrasing.
There is no place on earth where you can consider yourself middle class only having $24m in net worth. What you are referring to is likely a small community filled with people with net worths above $100m, but that doesn't change the class level because of what I pointed out. If you can quit your job and make 6 figures off of interest, you are not middle class anymore wherever you live.
Just because you can't afford a penthouse apartment in downtown Manhattan doesn't mean you are middle class.
- ap22213 10y agoI get what you're saying - but the reality is that globalization is to blame. Years ago, if one was born ambitious and able, with enough luck they'd get relatively 'rich' and most likely stop when they hit that point. Nowadays, the same type of person has to accumulate a much larger amount to feel any satisfaction. And, it doesn't help that those with wealth have clustered together.
- Jtsummers 10y agoCan you give us a hint as to where this place is? I believe that you believe this, and it may be true, but the rest of us are having a hard time figuring out where this place is that the upper class is half a billion dollars, and tens of millions only makes you middle class. Again, within a city or perhaps some particularly small but remarkably wealthy country, maybe. But which one?
- deleted 10y ago[deleted]
- arethuza 10y agoPlaces such as the UK have a socio-economic class system where class really has rather little to do with money - upper class here means aristocracy not just rich. Money really doesn't have that much to do with it.