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Reply #46: It has to do with income and debt [View All]

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Home » Discuss » Archives » General Discussion (Through 2005)

slackmaster

(1000+ posts) Send PM | Profile | Ignore

Tue Sep-20-05 03:44 PM
Response to Original message

46. It has to do with income and debt

Poor = Dead broke, no income, probably no debt because can't qualify for a loan
Low Income = Under $25K income, negative net worth, hopeless debt load
Lower Middle Class = $25K - $40K with burdensome debt
Middle Class = $40 - $60K with some debt load
Upper Middle Class = $60K - $90K, debt foreseeably paid off during lifetime
Comfortable = $90K - $120K, debt not a big problem
Well off = $120K - $250K with modest debt and positive net worth
Rich = $250K = $500K lots of assets and no significant debt
Stinking Rich = Over $500K and high net worth (multiple millions)

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