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What Net Worth Puts You in the Upper, Middle & Lower Class? (www.youtube.com)

submitted 1 month ago by sugar_in_your_tea@sh.itjust.works to c/personalfinance@lemmy.ml

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I found the graph at 10:55 to be especially interesting because it shows how someone with around the median income ($65k) can make it to the lower upper class by retirement through some discipline (10% saved per year).

As a quick TL;DW, here are the median incomes, net worth, and percent of population for each class:

lower - $34k income, $3.4k net worth (many are negative) - 25%
middle
- lower - $44k income, $71k net worth - 20%
- middle - $81k income, $159k net worth - 20%
- upper - $117k income, $307k net worth - 20%
upper
- lower - $189k income, $747k net worth - 10%
- upper - $378k income, $2.5M net worth - 5%

Some questions to spark discussion:

Do you agree with his breakdown of the economic classes? Why or why not?
What strategies do you think someone in each category should take to improve their situation?
If you don't mind sharing, what class do you think you're in, and does the breakdown match your experience?

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[–] sugar_in_your_tea@sh.itjust.works 4 points 1 month ago

If you like this video, check out Why Looking Poor is Important, which talks about the different ways each economic class views money.