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A good definition for middle class; is that you make a significant income from your capital investments. In that case it doesn't matter if you stop working for
by flembat 9y ago
A good definition for middle class; is that you make a significant income from your capital investments.
In that case it doesn't matter if you stop working for a few months; your stocks and shares still pay dividends and your tenants still pay you rent; your capital still keeps on working for you.
A good clue is this: if your money all comes from working for someone else; and it all stops when you stop working; then you are working class.
Like most people in the world.
- BlanketApple 9y agoI don't think that's anyone's typical definition of the middle class. It usually refers to work autonomy and relying on expertise to sustain yourself (as opposed to menial labor). Merely having liquid capital to begin with (i.e. not tied up in your primary residence or retirement vehicles) almost certainly puts you on the higher end of the middle class. I don't think re-defining "middle class" to mean the top 10% (or less) of earners is helpful.
- s0rce 9y agoWhile the definition of working class (https://en.oxforddictionaries.com/definition/working_class https://en.oxforddictionaries.com/definition/working_class) does seem to include everyone who works, it points out that it is "especially in manual or industrial work". Wikipedia consensus (https://en.wikipedia.org/wiki/Working_class https://en.wikipedia.org/wiki/Working_class) also disagrees with your definition in that the working class are engaged in manual labor and not in any wage generating employment. Further, most people who have adequate capital to sustain them are basically financially independent and could effectively retire, unless they are 60-70 and have been saving for years this isn't an accurate representation of the middle class, upper middle class, possibly.