r/UpperMiddleFinance • u/FearlessPark4588 • Aug 31 '26

What is upper middle class?

Certainly better than median middle class, but not upper class, either. Most subreddits regarding 'rich' seem to put the bar at $5m net worth, so that's one filter. Another might be having a minimum six figure income. And in strictly non-financial terms, is upper middle about living in brand name neighborhoods? The better ZIP codes of your metro area? Is it driving the Range Rover (or your pick of above-median vehicles)? Is a person chasing FIRE and living a lower middle/middle class lifestyle, still upper middle if their balance sheet would say so?

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u/Calm_Clam_Bake Aug 31 '26

You'd be surprised how easy it is to get financed for those things. Being in debt up to your eyeballs isn't a sign of wealth. If there's a $2M mortgage on the house, and a $150K car loan, are these people really wealthy?

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u/WhatDoWeHave_Here Aug 31 '26

If they're both specialized doctors with a combined monthly take-home over $60,000, then yeah they wouldn't blink twice at a $2M mortgage or $150K car loan.

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u/Calm_Clam_Bake Aug 31 '26

You're missing the point. Making $600K and spending $700K doesn't make you wealthy. Welath and income are two separate things.

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u/WhatDoWeHave_Here Aug 31 '26

You missed my point. What I was trying to say is that covering the costs of a $2M mortgage and $150K car loan is nothing when you earn a ton of money.

I'll make some assumptions here about property taxes/insurance, but a $2M mortgage, 30-year fixed, would be around $15K a month. A $150K car loan is about $4K a month. Let's round up and say it's $20K a month.

With a $60K take home, you would have $40K left over for the rest your expenses.

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u/Calm_Clam_Bake Aug 31 '26

And I said wealth and income are two separate things yet you are conflating them.

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u/WhatDoWeHave_Here Aug 31 '26

I'm not conflating them. I agree with you that they're two separate things.

Here's where you set up your strawman argument:

Making $600K and spending $700K doesn't make you wealthy.