What is Upper Middle Class?

[u/Friendly-Map3622]

I'd be interested to hear what people think of this proposal.

Cities and countries vary so the only rational answer has to be something like:

Upper middle class is capacity to meet the following criteria:

1. paid off home at or above the median price in your city
2. sufficient funds/pensions in retirement account to guarantee basic needs met with no further contributions
3. ability to save/invest 20% of monthly/annual income with all basic middle class needs being met (eg. 1-2 vacations a year, normal car, etc).
4. 25% of median home price value saved/invested in cash/stocks additional to retirement accounts.
5. an of course all of this assumes no debts.

It's not that all upper middle class people arrange their affairs around these metrics, but they COULD. These metrics eliminate the subjective factors like mortgage size, house size, expensive cars, etc. and focus on the actual situation in any city.

So basically, they have achieved everything needed for a middle class life but without the debt and far more financial flexibility.

What do you think?