We're discussing asset brackets, so your point is less relevant. My point was that a middle class family (say, 120-150k/yr) is going to have around a million d

We're discussing asset brackets, so your point is less relevant. My point was that a middle class family (say, 120-150k/yr) is going to have around a million dollars in assets by retirement age. But that's not what most people think of when they hear "millionaire", because our cultural expectations are a generation or two old -- they don't reflect the effects of the last couple decades on housing value or inflation. So instead of looking at families with assets of $1mil, it probably makes more sense to look at families with assets of $10mil if you want to discuss the mobility into "wealthy" instead of "upper middle class".