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It was from this article on the upper middle class: http://blogs.wsj.com/economics/2016/06/21/not-just-the-1-the-upper-middle-class-is-larger-and-richer-than-ev
by phd514 10y ago
It was from this article on the upper middle class: http://blogs.wsj.com/economics/2016/06/21/not-just-the-1-the-upper-middle-class-is-larger-and-richer-than-ever/ http://blogs.wsj.com/economics/2016/06/21/not-just-the-1-the.... The HuffPo article conveniently omits "upper".
- nerfhammer 10y agoI wouldn't call that upper "middle" class, I would just call that upper class...
- Swizec 10y agoUpper class is when you no longer have a salary, just investments. Upper middle is when you have a high salary and some investments, but your main source of income is still leveraging time and skill for money.
- SilasX 10y agoSo ... the retired couple (top right) is upper class then.
- Swizec 10y agoThat's a good question. I don't know. I guess it depends on what kind of retired you are. If you're living off of $1000 of dividends per month, or a $600 pension, then you're probably not upper class. At $4000/month like the couple in the picture ... borderline? Maybe once you retire you just stay the class you were before you retired?
- clock_tower 10y ago> Maybe once you retire you just stay the class you were before you retired? That's how I've always heard it, for what it's worth. The middle class, including the upper middle class, earns salaries; the upper class pays them.
- nerfhammer 10y agoSo a CEO with a seven figure salary is still upper middle class? I think not.
- Swizec 10y agoIf said salary is their main/only source of income, why not? Afaik as long as you need a salary to maintain your lifestyle, you're middle class. Grey areas abound of course. Whichever definitionwe write down, someone can find an example that doesn't feel right. Like, what if your 7 figure CEO is 8 figures in debt and all their assets are leveraged to the brim and if they lose their job it's all getting foreclosed by the bank and they're homeless in a month? What if a 5-figure small business director/owner lives a comfy life well within their means and has 10 years of fuck you money? Life's weird.
- deleted 10y ago[deleted]
- leggomylibro 10y agoI don't think you can consider someone "upper class" if they aren't at the point where they can comfortably work for their own enjoyment without needing to draw a wage from someone else.
- arcticfox 10y agoWell, that convenient omission sure changes the context enormously. People can have different opinions on the definition of "upper" but that is certainly worlds away from the point HuffPo was trying to make. Irresponsible from HuffPo, but, what do I expect from people trying to get clicks?