this post was submitted on 04 Oct 2024
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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.