If you have a net worth 50% higher than the average American, you can be considered upper class. Remember, it’s not so much how much you make, but how much you keep. Hopefully, this blog can help you on your financial journey to greater wealth and financial independence. That is $3.4 million for two kids. After all, you guys still have the royalty class. They are literally sitting in a section of the plane called Upper Class. On either one. It takes $485,000 to live an upper middle class lifestyle in Manhattan and $1,080,000 to live an upper class lifestyle in Manhattan. This needed pointing out for all us Brit or half Brit or frequent ba/virgin fliers. I think you got British Airways and Virgin Atlantic mixed up. Town and Country Magazine’s definition of wealthy is on another level. You have access and usage of the car whenever your heart desires. The average person is too selfish or too busy to help other people. The monthly real estate tax is slightly over $2,000 and the common charge (equivalent to HOA) is slightly over $1,500. In other words, to be upper class, you need to make at least $75,000, the threshold where researchers have discovered making more does not necessarily increase happiness. Thanks, Sam. I really hadn’t considered which class I fell into since I always feel poor based on our extreme savings rate. Retirement fund and college savings are either taken care of or well on their way. In the worst of times wealth is not $, but rather access to the things you love. If middle-class households earning between the 50th percentile ($46,000) and the 85th percentile ($62,500) tend to live in lower cost of living areas, then their difference in real income may be smaller than what the differences in nominal income suggest. I often conjure some passengers sitting on a British Airways flight. Here’s Exactly How Much Money You Need To Be Happy, Pros And Cons On Sharing Your Finances With Your Significant Other. It’s about family, breeding, background, education, and attitude. I remember when my husband was a property manager for a quadriplex where the families were often late with rent because they were living paycheck to paycheck. Thank you for including different household sizes in your statistics. There is considerable debate as to how the upper middle class might be defined. Plenty of lower class people with high incomes. I feel like true middle class get most of the exact same things as I do but eat it less and at cheaper restaurants, drive cheaper cars, and are financially stressed to do it. I feel very fortunate to have ended up where I’m at in my career even though I didn’t set out with any grand goals for my career when I finished college. The article takes a typical wealthy New York family, a married couple in their forties with two teenage kids, and calculates how much wealth they would need to feel content and happy. Like I said, there is my definition and then Town and Country Magazine. But considering my family size, I don’t even make it to 400% of the federal poverty level. Even if you qualified for inclusion most would not want to broadcast it. Would you ever describe yourself as upper class in public? However, it’s not a high enough income to be considered rich. $100 million plus is a crazy high number and this article was written over a year ago.