On the topic of wealth – I’m going to differ a bit from the common wisdom.
If you have XXX dollars in the bank or YYY income you can CHOOSE to live in an expensive area or a less expensive area. I do not believe that just because San Diego is an expensive place to live we need to skew our definition of wealth.
But lets keep this local – looking at San Diego county household incomes.
In my book - if you're making more than 70% of the other households in the county - you are NOT lower anything... not lower middle, not lower class...
69% of households in the county earn LESS than $75k.
People making good money need to acknowledge they are doing better than middle/median/average. Plenty of people in the county manage to survive on sub $100k/year household incomes.
If your household income is greater than 125k, then you are in the top 1/10th of income households in the county – doing better than 89% of the poor suckers who earn less.
Yet I see people saying this is middle class.
Where do you draw the line.
bottom 50% = lower class
50%-60% = lower middle
60-70% = middle
80-90% = upper middle
90% or above = rich/wealthy?
That translates (approximately) to
lower class = low 60’s or less
lower middle = low 70’s or less
middle = 100k or less
upper middle = mid 130’s or less
upper class = above 130k.
I would imagine there are a lot of piggs who are wealthy – but have trouble admitting it.
Just like the government – if you have a budget problem – it’s probably due to spending, not income.
Lets not kid ourselves that household incomes of >$100k are just getting by.
