how do you define wealthy?
Most Helpful Guy
I think it's more about lifestyle and the quality of neighborhood you live in. That depends a LOT on the cost of living where you live. Housing costs are the biggest single cost. In the US they can vary by probably 10:1 from one part of the country to another.
A big determining factor is living in the suburbs (or the equivalent living in the country or city). In a nice suburb I would call lower end house = lower middle class, mid range house = mid middle class, and upper end house = upper middle class. When I say upper end house I don't mean extreme upper end, but maybe in the top 10%.
In the US with an average cost of living, a single person making 25-30K should be able to buy a lower end house in a nice suburb if they are good at saving. A single person making 50K should very easily be able to buy a medium house in a nice suburb. A person making 75-100K should be able to buy an upper end house, depending on how well they save and invest.
If they save and invest, 200K starts getting into lower upper class for a single person. If someone under 30 makes that much, then something is wrong if they are not a multi-millionaire by the time they are 50.
I would call someone worth 1M middle class or upper middle class depending on how old they are. Lower upper class is more like 5M net worth. Wealthy is more like 100M+ net worth.
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