As a rather low educated business owner with a decent income (above the upper class' you mentionned, and a couple of years what you call a killing ) I don't take ombrage at what you say, but i doubt college education doesn't help - not that I went there eh...- It makes it probably easier to manage a more sophisticated business and attending a famous college should help making good connections. Besides when it comes to traders, many definetely appear to have solid scientific background. I have a couple of friends working in IB, who are probably the only employed people I know who have an acceptable income and they sure have high flying academic credentials. Definetely trying to put the kids in elite schools, although if they don't succeed, it's probably no biggie and as it's usual in my trade the ones too stupid to do better can always take over daddy's business. Besides over here plumbers seem to be making quite a decent income, even the unlicensed chinese we use jump up their fees after having lived here for a few years.
100-250 is decent mid class. live conservatively and you can save slowly and painfully for retirement.
In a country where %14 of the population is receiving food stamps, I can certainly say that whose household income is over $100K is RICH. Some of the comments here are shocking to me. I don't know which rock you guys are living under.
x2. It's quite funny, but NOT shocking. This is the internet after all, and a trading website at that. Everyone wants to be seen to be really rich and making out that 250k is nothing, lol.
What is shocking is how rich our "poor" really are compared to the "poor" in most of the rest of the world. Ever been to India?? If you want to dumb down what "rich" means, the average middle class american is ultra-wealthy too!!! Politicians love people who think like u do.
250K is a good living in most parts of the country. However if you think this is wealthy, you have a different framework for what "wealthy" means than many of us here. Think about the costs of living "wealthy". -Decent primary home in nice area: usually 3+M and often much more. -private air travel such as netjets -Summer place -Country retreat/camp -private schools for children: from pre-k to to masters degree (no contact with public school riffraff) -cash flow to fund hobbies, such as horses, art, antiques, autos -full time nanny and other "help" staff -at least 1 club membership, likely a city and country club, golf club. Fund all these things (and more) while still having the spare cash flow to fund further investment that will make you increasingly wealthy, not merely treading water like the "wanna-bees" who live rich for a while then crash. I think the above comes closer to what many of us consider "wealthy" 100K? That might be a 1 club membership, if that?
uum, with all due respect; If you are making $100K or above, and you are single and living in TX and have no college debt, you will live an EXTREMELY WEALTHY lifestyle. I guess it all depends where you live