When you're a billionaire, it's not about the money anymore, it's about power, you occasionally talk with the people who rule your country about how that's gonna go, because if they hurt you (your business) you can hurt them (their political parties) with your immense influence. You're one of the few people pulling the strings of the world, writing history with your own pen
As someone who lives lower middle class in Serbia, that statement about billionaires couldn't be more true. When you reach above 100 million dollar threshold, it is no longer about money, the money itself becomes worthless, it is about Investment of that money into social power and influence. RioTinto mining company is perfect example of it.
In my mind there's only 4 classes. The dependent class, the working class, the independent class, and the rich. Dependent class needs assistance from others to survive. Working class needs to work to survive. Independent class doesn't need to work to survive. The rich don't have to worry about survival at all.
An interesting take. Those are much better classifications but what specifically separates the rich from the independent class? They're both independent and neither needs to work to survive. Is it that independent class still worries about survival even though they don't need to work? I'm sure plenty of rich people worry about things.
@@eddiemalvin What I meant to say was rich people don't even think about not having enough money for survival. The independent class might be pensioners, equity holders, a modest royalty receiver, or simply enough savings to last them several years. So the difference is the independent class must still consider expenses or risk being working class again. The rich do not.
Here's the cost of a yacht: Below 50ft (15m): between $500,000 and $2,500,000 Between 50-70ft (15-21m): between $2 million and $6 million Between 70-100ft (20-30m): between $6 million and $20 million Superyachts over 100ft (30m): minimum $10 million Small used sailing yacht: $15,000 or less Small motor yacht: $50,000 to $100,000 Larger motor yacht or new 40-foot day boat: $1 million or more That's ignoring the amazing deals on used yachts, fractional ownership, charters, etc. A millionaire can easily afford a small motor yacht, or finance an expensive yacht.
@@blucolife as a guy in the bracket were speaking of, I can tell you we DO NOT own these things. It’s wild to me how people don’t understand how this stuff works. We RENT this crap MAYBE, but owning this stuff is for multi-deca-millionaires. Not the standard joe millionaire.
I'm lower middle class. I have a stable job, an apartment, a working car, and can afford to buy groceries every two weeks (not the best, but cheap food that can last a while). I'm grateful to have even that, because there are so many others who don't even have those luxuries.
I wouldn't even consider millionaires affluent, millionaires are more like upper middle class. Affluent and high affluent people are multimillionaires.
@shnitzilhazel9957 yes this video is bs. Millionaire should be replaced by centi-millionaire. In which world can you buy 3 houses, luxury cars and yachts for just one million dollars???
Empowered by financial knowledge, I'm reclaiming my monetary destiny, eager to shatter the myth that six-figure gains are exclusive to elite investors, and determined to unlock the secrets of rapid wealth creation, one strategic investment at a time.
Indeed, currently I'm managing my finances wisely and being frugal. In the last 19 months, my investments grew by 43%, adding over $500K in profits. However, I've had losses in the past month, making me anxious. I'm unsure whether to sell everything or wait.
Many folks overlook the importance of advisors until their emotions cause them problems. I recall a few summers ago, after my lengthy divorce, I needed support to keep my business going. I searched for licensed advisors and found someone extremely qualified. She helped grow my reserve from $275K to $850K, despite inflation.
Glad i came across your comment, Could you please share the name of the consultant that assist you and if you don't mind, how do I get in touch with them?
This is too American: focusing on consumerism and judging wealth by how much one spends in stuff. In Europe many affluent people and above are very price sensitive and showing off is not socially acceptable.
No this is not too American. In fact yearly expenditure is a valid variable for tracking how rich someone is. It's often used in statistics too, kinda similar to Per Capita Income
Just like the royal family and when they were practically bagging the state to pay for their yacht, because how could such a rich country have a monarchy that doesn't have a yacht
A guy I wrote insurance for, a professor of finance, summed it up in three classes for Americans. Poor - your name is on your shirt, middle class - your name is on the door, rich, - your name is on the building. That's fairly accurate.
Upper middle class people are millionaires now. A decent home in a mid-sized city is worth a million nowadays. Just a 100 m2 apartment in Munich is worth a million nowadays
my familly is upper middle class. A million is really nothing these days and my parents are only upper middle class because they brought one of the worst houses in the area back when prices were (whats now considered dirt cheap), had 6 jobs and worked hard to pay off the mortgage within 10 years. Dad now only has one high paying job and Mum has 2 jobs. And despite been upper middle class, even we have had to cut back from cost of living. My parents also decide to save up, rather than spend their money. You just never know when you might actually need it.
I personally think I'm living large if I can afford rent, groceries, other living expenditures, fillout my $6500 IRA every year, go on a $2500 vacation every year, without living with parents. If i can live like that, then I'd be over the moon! A dream for me would be if I can pay for food services to make food for me and someone to clean up my place without wincing, I'd be free. As a single guy, I don't need much. Gives me more time to enjoy my hobbies and lifestyle.
Absolutely, Single guy in my mid 30s.. hit 1M networth last year and so now I am training myself to be less stingy and spend more and invest less 😂 Btw IRA annual limits are $7000 not $6500
@@peppermeat8059 unless you're driving somewhere really close + staying with a friend, I don't see $500 being realistic for a vaykay. I would say $800-1000 more likely. $500-600 would be hotel + airfare and then remaining $200-400 for going out and enjoying different events, food, drinks, etc.
Growing up, we wavered between the poverty line and lower middle class. As an adult, I managed to get a degree and now firmly stand in lower middle class until I can get a better job.
Grew up lower mid class with working class parents. I got the degrees and married a good smart woman. We both now have senior level management jobs and have no debt except the house which will e paid off next may, we bounce between affluent and upper affluent. Just be frugal and don’t get caught up in lifestyle creep, invest early and the rest is semi easy.
Yes and no. The median net worth at retirement is less than 300k - meaning half have or less, but the risk to run out is high. Average is over a million, but it is skewed by the really loaded people. Retirement is all about savings rate and the amount you plan to spend. 4% to 5% withdrawal rates at retirements is generally considered safe.
I'm a millionaire and I'm retiring at 49. It's not all about net worth. It's about your monthly expenses. I could work an extra 10 years to have a few extra luxuries but I will happily pass.
@@mike77588 You need to subtract debts, but I still agree a million net worth isn't what it was a generation ago. Then again you could easily have no mortgage if a bit older, and if you played your cards right you spend 250k or less 10+ years ago for it.
@@mike77588 there are certainly a shipload of millionaires in the US but the demographic doesn't nearly represent 25% of Americans. A lot, true,but not that many. The median income is around about $63,000 but this average is skewed by a very small .1 percent earning an astronomical income making the mathematical "average" much higher than the "typical" working class wage which is around $35K or so. Of course it varies.
*I wasn't financial free until my 40’s and I’m still in my 40’s, bought my third house already, earn on a monthly through passive income, and got 4 out of 5 goals, just hope it encourages someone's that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing in the financial market is a grand choice I made.*
The wisest thing that should be on everyone mind currently should be to invest in different streams of income that doesn't depend on government paycheck, especially with the current economic crisis around the world. This is still a time to invest in Stocks, Forex and Digital currencies.
How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?.
i'm sort of in between upper middle class and affluent and i'm very thankful for a good education, good life, good house, and good family! :D i love you mom and dad :)
There are only 3 levels. 1, You don't have sofa. 2, You have a sofa but it's stacked against a wall. 3, You have sofa at least four feet away from wall!
Exactly what I was thinking. When I saw millionaire come after the description used for "upper affluent", I audibly laughed. Even without taking into account where you live, which could impact the value of 1 million dollars drastically, if you were to spend money like the "upper affluent" is spending, you will quickly be back in what was described as middle class. However, if you were a multi-millionaire, you would probably be fine, as your investments would probably be good enough to sustain the lifestyle off of return.
I know plenty of people who are nowhere near millionaires. They own proper yachts on which one can hoist the sails and proceed under wind power. Not super yachts which aren't really yachts at all but mega motor cruisers.
My wife and I live in the SF Bay Area. It skews the picture substantially. With a household salary of $400K and a net worth of $1-2M, you generally are still only living a middle class (or maybe upper middle class) lifestyle here. No wonder people are moving away.
As a kid right now in a family in the upper middle class range, I am very thankful for what I have. I know several people who struggle to pay bills, get good food, and so on. Thank you God.
@@chesterdamolester6990 Whats selfish about it? Hes thanking the hand that feeds him, that hand doesn't have to feed everyone to get thanks from one person
A net worth of 1 million US dollars looks like a 600k house, 150k in 2 cars, 200k in active stocks and 50k in other assets Nice sure, not what you described in this video though as having a yacht and a million in your bank
as someone with a father that makes 3x the average salary, we still shop at lidl, and the house is not big or expensive, no investments either. This video doesnt portray true wealth but how different types of wealth have been stereotyped
No, a million is a ton of money. For instance, $100 / day can buy you more than the meals you need, so working for $2500 / month you can splurge and still save like $500 every month to get more than 10 K each ear in savings, but that's a long way to the million.
@@mihaip1179 A million dollars is a ton of money, but the spending that is described in the "Upper Affluent" section of the video would be egregiously irresponsible for someone who had less than $1M.
@@mihaip1179And also, $1M in assets, not money you have. Just the fact of owning a house sets you pretty close to having nearly a million in assets, but on a money scale, that only means you won't pay rent, and not necessarily mean you can spend your money however you want.
No, they are middle class. Unfortunately, Millionaire doesn't make you somebody who can afford a good home in Switzerland instead, you will get an old rotten smelly apartment. The level of greed in those two countries is immense.
Because Switzerland and Luxembourg are some of the most expensive countries in the world, and ordinary workers, for example, in fast food or in stores like Walmart in the United States live better than workers in similar positions in Switzerland and Luxembourg
I'm kinda confused with this pyramid. Not to be bragging, but my parents are "millionaires" in the amount of money they have. However, we live the life of a upper-middle class person class on this pyramid. I live in asia, so maybe the values are different in the west?
I agree, my parents are also millionaires and my father was an electrical and software engineer. Most millionaires are just upper middle class. Most millionaires are worth a million because of years of saving and investing such as owning a home over years and investing in stock and retirement savings.
A yacht costs probably $1.000.000 in maintenance over a quite short period of time alone, and that does not include the 8-Figure Buying price. What he is referring to is a millionaire in the 60s, if even.
Being an Asian eldest daughter, my family is lower middle class, but I was the poverty class during my first 2 decades living. I had limited choices and opportunities.
I feel sorry for you man, but hopefully if you work hard you can be in a better situation, I’m middle to upper middle class and I am very thankful for the life that I have. God bless you and I hope you all the best.
Coming from a functional family that doesn't sabotage your prospects, that's also something that usually comes from people who are not poor. Having a car is mainly a necessity in the USA.
Right now in Algeria, my parents make 5k per month combined as college professors. I’d say we are in the upper affluent class but in America we’d be in the lower middle class with the same pay.
The workers, low-income, underprivileged and disadvantaged are such undervalued and overlooked groups that even a very informative video skips over us and jumps directly from the lower middle class to poverty as if there was nothing in between. Oh damn.
Surprisingly as far as categorization is considered underprivileged would usually either fall in poverty or lower middle class. Can't make ends meet but probably won't starve is poverty, can make ends meet but just barely is lower middle class.
In my opinion we should ditch a lot of the categories in this video and go to a more "impoverished, working class, capitalist class" way of talking about these things, like yeah we won't as easily find people in a specific tax bracket, but an affluent person has more in common with a lower middle classer than a billionaire
My husband and I are in the top 15% of society but we live a lifestyle that's upper middle class according to this video. We are frugal and do not want excessive stuff in life. Besides, this kind of wealth can easily run out if we aren't careful but it provides us with security and contentment in our retirement. Thank you for creating this video.
Upper middle class: "You wouldn't get where you are without straight A's and an Ivy league school" I enjoy driving past the college I flunked out of with my McLaren.
100%. I can smell poverty from the guy who made this pyramid. xD Like for Europe and USA nearly everything is wrong. Straight A's in school will serve you well - if you love slaving away for another man's pocket. Creating wealth hasn't much to do with your school-grades.
I just have to applaud your content man, well done. Long term investor's know that the market and economy will recover eventually, and investors should be positioned for such a rebound, I gained $180k from bitcoin of 2021. Before the market crash and now am buying again, adding more at a time. Having a good financial advisor like Angie Chen Owens, it will add to your success in the crypto market.
Wow. I'm a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, I'm in my fifth trade with her and it has been super.
She is my family's personal Broker and also a personal Broker to many families in the United states, she is a licensed broker and a FINRA AGENT in the United States.
I feel investors should focus on under-the-radar stocks, considering the current rollercoaster nature of the stock market, Because 35% of my $270k portfolio comprises plummeting stocks that were once revered. I don't know where to go here out of devastation.
The safest approach I feel to tackle it is to diversify investments. By spreading investments across different asset classes, like bonds, real estate, and international stocks, they can reduce the impact of a market meltdown.
@@BogumilTanski The issue is people have the "I want to do it myself mentality" but are not equipped enough for a crash and, hence get burnt. Ideally, advisors are reps for investing jobs, and at the first-hand encounter, my portfolio has yielded over 300% since 2020 just after the pandemic to date.
@@WaldronsSousas My CFA ’ is “MARGARET MOLLI ALVEY”, a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
@@JeffreysSuttons Appreciate this recommendation, hopefully, I can get some insight into where the market is headed and strategies to beat the downtrend when I hear back from MARGARET MOLLI ALVEY.
I am 25 and I made beyond 95% of Taiwanese income (around 70k a year), the fact that I am just a lower middle class in US making me know that I gotta grind even harder and that’s why I have been getting financial analyst certificate like CFA and this is my fifth year in stock market. I wish everyone who is money desperate like me can one day become the billionaire like we all dream of. Wish you all the best luck and I will be seeing you up there!
Investments and living below your means are the best way to raise your economic potential. But when you upgrade your life style according to your income, you'll push yourself back to where you started. Work hard to earn more money, spend as little as possible within reason, and invest the rest.
Cut out the eating out entirely. Don't spend what you make just because you have it. Savings will go down in value, wise investments long term WILL go up. Put your money to work as effectively as possible while you do the same. You will almost certainly never be affluent in your youth, so invest for your future. Even better if you do so for your posterity; an idea that we've almost lost.
@@jackcrossemsI heavily agree. Stock are one of the easiest ways to grow your wealth but not enough people know how easy it is to invest. Even $50 a month would be very beneficial in the long term.
1:35 $35 a day is most African is longer that much. Here in Kenya that is how much minimum wage goes for established companies. Most people here leave under $10 a day.
I get ya. A lot of ppl tend to underestimate how expensive poorer countries are. Yeah, it might seem cheaper for outsiders because a few services are cheaper compared to them. But access to certain goods or specialized services skyrocket compared to other economies, making an already low wage seem even lower
I love how you use real-life comparisons to explain the struggles of extreme poverty and the luxuries of being a billionaire. The part about how long it would take to spend a billion dollars if you spent $1,000 a day was especially mind-blowing! Definitely gives perspective on how far apart each wealth level really is. Great content!
Growing up, I was probably in between affluent and upper middle class. Definitely more affluent. In my school in kinda qualified as “rich” which honestly I can kinda go with. But I am grateful for everything I have and the basic needs to survive. Thanks God. I also hope once I get out of college when I start I can at least be in middle class or above. But to all those who are struggling, Gods got your back, he makes a way out of no way. I hope you’re able to move up the ranks with his help and thank him for everything. Alright I’ve yapped to much, later to whoever is reading this and I hope your life will be great.
I started in poverty now 35 with about 750k net worth in real estate and stocks I am almost a millionaire living below my means and steady investing and paying off my homes faster was key.
I am too. Its like a constant risk of falling off a cliff. Nevertheless, life can be very enjoyable. I learned to cook foods from poorer nations. Simply amazing and you can't find them in restaurants. There are plenty of hobbies that are challenging but inexpensive. Having a vacation in town is still a very nice break and refresher. Find new places and events. Camping and hiking are also cheap. Puzzles and board games. Learning new things via the internet. Basically live your life and don't worry on missing out on random things.
Hi, I'm a Canadian of visual disability in Windsor Ontario under legislated poverty. Basically, on the 1st day of every month, I am in poverty. By the 30th day of the month, I am in extreme poverty. Then, on the 31st day, the provincial government pays me $1,186.00 and the cycle repeats because the federal government still hasn't paid anything yet. Courtesy of Premier Doug Ford and Prime Minister Justin Trudeau.
If you own an average home outright, and have as much saved for retirement in your 50s as they say you should, you are right right at a million dollars net worth
I believe the middle and upper middle class, there was a huge issue you jumped over, that is, debt. I know for a fact the middle classes and affluent have to be the Most debt ridden classes. Everything on a credit card for extra points but after pay and klarna being used as well, nice cars but all on 72 month loans. Let me tell ya, deep, I mean deep debt.
i was also surprised to see no mention of debt. a lot of "upper middle class" would be middle or lower when you consider their debt obligations, or debt-to-income ratio
He said, "trades" as a job in the lower middle class. Professionals in the trades make over 6 figures, no formal education. Undervalued opportunities in the trades.
Yeah that’s where I’m at. Not starving in need for food but very poor. I only make 2000-2500 a month so basically after all my bills r paid for I have only a couple hundred or so dollars to spend on myself.
Wealth grows in many forms, it's true, In silver, gold, and skies so blue. But deeper still, beyond the quest, True richness lives where roots find rest. Chase not the glitter, chase the green, In nature's arms, you'll feel serene.
Why is "millionaire" higher than "upper affluent"? I have a 2.5 million net worth, yet I feel short of "upper affluent". And I am living in Europe with medium cost of living.
Transfer of wealth usually occur during market crash, so the more stocks drop, the more I buy, in the meanwhile I'm just focused on making better investments and earning more as recession fear increases, apparently there are strategies to 3x gains in this present market cos I read of someone that pulled a profit of $350k within 6months, and it would really help if you could make a video covering these strategies.
Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money or you could hire a financial expert.
Yeah, financial advisors could make a lot of difference, particularly in a market such as this. Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over 250k just in a matter of weeks/couple months, so I think there are a lot of wealth transfer in this downtime if you know where to look. I have been using an FA since 2020, and I return at least $30k ROI, and this does not include capital gain.
'Carol Vivian Constable, a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Carol Vivian Constable” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
Way too consumerism driven. The key to wealth and early retirements is savings rate. You don't increase spending when you make more, and your excess money goes into investments and non-depreciating assets. This is more like max potential spending habits for each wealth level. Income and net worth are not really mentioned until the highest three, and even those flat amounts depend on your area. 1 million networth means you have king like wealth in Africa, but probably not much in NYC or Los Angeles, especially if you have kids and average size home in the city. This must be a parody or exaggeration since very few people in the upper middle class went to an Ivy League school. This is more accurate for perception of wealth. You can have affluent things, but broke for retirement and having next to no equity. There are also affluent people that live well below their means. The lower ones seem a tad more accurate. Millionaire is way higher than it should be. Many millionaires especially old ones don't identify as above upper affluent, especially in high cost of living area.
I feel like a lot of this is life choices rather then wealth. I am a millionaire but I live like lower middle class. I don't have pools in any of my house, I don't have any designer brand clothing, I drive an old Japanese car that I bought second hand, I upgrade my phone every 4 to 5 years only, I avoid spending money in restaurants and buy grocery instead, I own zero jewelry other then my wedding ring, I still fly economy on holiday. I think wealth doesn't measure by how much you own, but how socially secure you are.
man i dont even want to be rich, i just want to stop working and still be allowed to live lower middle class lifestyle (same as i am currently) but without being forced to do corpo work, that is all i ask
My dad was a taxi driver and my mom was an immigrant out of work. So I started between poverty and lower middle class. Today i am upper affluent, got my first million net income last year. I live in Germany, you do not talk about this here, you try to hide it (maybe except of my Porsche). But in this American bubble I can say: yes, I am proud of it 😊
@@ugoalahchibuihe3866 I was just learning and working hard. Growing up in poverty, being bullied and being humble helped me develop tremendous empathy and respect for good people. There are a lot of people out there, who really appreciate that. I made an official IQ test (3 days) when I was 15. The result was - let‘s call it - high. Higher than I could ever imagine. From that day on my self confidence grew. I never told anybody about details, that was just for me. I always knew: doesn‘t matter what other people say - you can be successful. And when I had a question - just ask, because the reason is not my dumbness, it is because nobody was able to explain it in the right way. I am a visual thinker, and this is exactly what my company is doing today. I am not talking about these old stories anymore, but this is anonymous and I hope this maybe inspires other people. Be positive, be human, act wisely. Thanx for asking.
@@ugoalahchibuihe3866 Being ambitious in school, diligent at work and intelligence and strategic thinking is certainly an advantage. Don't be demotivated by setbacks. Don't lose sight of the goal, but also be able to make goal adjustments because you get older and realize that some goals from a young man were nonsense 😏 real success has nothing to do with short cuts
When you described the Affluent I picture someone with a few millions ... Upper affluent definitely a millionaire. ... I guess things are too expensive in my country.
I'm in pretty deep poverty. I have zero savings, zero investments, for the first time in forever I literally moved out of the ghetto and live in a somewhat nice home. - people who have money will never understand the struggle. They get things so easy in life and it isn't fair.
Millionnaires (as in ''one million'') *are* middle class, relatively speaking. At least you can afford home ownership, which is definitely luxury by now.
Depends on where you live. If you are a millionaire living in an area like California you'll easily feel middle class, but if you're a millionaire in Alabama or something you'll actually feel like a millionaire
Most people are millionaires, but its all in property, cars, and assets so you cannot spend it, 1 million dollars is middle class. over 5 million dollars you can call yourself rich.
When you're a billionaire, it's not about the money anymore, it's about power, you occasionally talk with the people who rule your country about how that's gonna go, because if they hurt you (your business) you can hurt them (their political parties) with your immense influence. You're one of the few people pulling the strings of the world, writing history with your own pen
It's about ADD & reason lost. UltraRich or intelligent - choose 1 ;)
Well said
And if you're a ### you are eligible for hundreds of millions of $ that get poured into a donation charity of your choice (money laundering).
As someone who lives lower middle class in Serbia, that statement about billionaires couldn't be more true. When you reach above 100 million dollar threshold, it is no longer about money, the money itself becomes worthless, it is about Investment of that money into social power and influence.
RioTinto mining company is perfect example of it.
@@themindset3329 fuck that.
I’m rich!!! I’m going to keep to myself.
Don’t get me involved in your geopolitical bullshit .
In my mind there's only 4 classes. The dependent class, the working class, the independent class, and the rich. Dependent class needs assistance from others to survive. Working class needs to work to survive. Independent class doesn't need to work to survive. The rich don't have to worry about survival at all.
This is perfect! You've stopped me looking for videos explaining wealth levels. This distinctly explains it.
Thank you, Internet stranger
That's exactly right. Historically speaking, middle class was what you call the independent class.
An interesting take. Those are much better classifications but what specifically separates the rich from the independent class? They're both independent and neither needs to work to survive. Is it that independent class still worries about survival even though they don't need to work? I'm sure plenty of rich people worry about things.
@@eddiemalvin What I meant to say was rich people don't even think about not having enough money for survival. The independent class might be pensioners, equity holders, a modest royalty receiver, or simply enough savings to last them several years. So the difference is the independent class must still consider expenses or risk being working class again. The rich do not.
@@Mistersteger Makes sense. Thanks!
Millionaires do NOT have yachts. That’s multimillionaires.
UHNWI can afford yachts. Not even HNWI can do that and don't get me started about the random "millionaire" out there xD
Here's the cost of a yacht:
Below 50ft (15m): between $500,000 and $2,500,000
Between 50-70ft (15-21m): between $2 million and $6 million
Between 70-100ft (20-30m): between $6 million and $20 million
Superyachts over 100ft (30m): minimum $10 million
Small used sailing yacht: $15,000 or less
Small motor yacht: $50,000 to $100,000
Larger motor yacht or new 40-foot day boat: $1 million or more
That's ignoring the amazing deals on used yachts, fractional ownership, charters, etc.
A millionaire can easily afford a small motor yacht, or finance an expensive yacht.
Yachts are not bought. Yachts are rented.
@@dimitristripakis7364 What are you talking about dude? In the mind of the instagram followers every USD millionaire has bought 3 yachts! :'-D
@@blucolife as a guy in the bracket were speaking of, I can tell you we DO NOT own these things.
It’s wild to me how people don’t understand how this stuff works. We RENT this crap MAYBE, but owning this stuff is for multi-deca-millionaires. Not the standard joe millionaire.
I'm lower middle class. I have a stable job, an apartment, a working car, and can afford to buy groceries every two weeks (not the best, but cheap food that can last a while). I'm grateful to have even that, because there are so many others who don't even have those luxuries.
What consider making 8500k a month is??
I encourage you to stay your course and "Keep the Faith".
Compared to lots of people in the third world, you're rich.
@@MrDonny27 depens where u live, but that's most likely upper middle class
@@sqb_ Louisiana but don't feel like it
I feel like now because of inflation, the affluent or upper affluent ARE millionaires
Agreed!
I wouldn't even consider millionaires affluent, millionaires are more like upper middle class. Affluent and high affluent people are multimillionaires.
@@shnitzilhazel9957 yeah that too
@shnitzilhazel9957 yes this video is bs. Millionaire should be replaced by centi-millionaire. In which world can you buy 3 houses, luxury cars and yachts for just one million dollars???
multi millionaire is now billionaire, and billionaire is multibillionaire, maybe even trillionare
Empowered by financial knowledge, I'm reclaiming my monetary destiny, eager to shatter the myth that six-figure gains are exclusive to elite investors, and determined to unlock the secrets of rapid wealth creation, one strategic investment at a time.
Indeed, currently I'm managing my finances wisely and being frugal. In the last 19 months, my investments grew by 43%, adding over $500K in profits. However, I've had losses in the past month, making me anxious. I'm unsure whether to sell everything or wait.
Many folks overlook the importance of advisors until their emotions cause them problems. I recall a few summers ago, after my lengthy divorce, I needed support to keep my business going. I searched for licensed advisors and found someone extremely qualified. She helped grow my reserve from $275K to $850K, despite inflation.
Glad i came across your comment, Could you please share the name of the consultant that assist you and if you don't mind, how do I get in touch with them?
Her name is “Diana Casteel Lynch” Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.
This is too American: focusing on consumerism and judging wealth by how much one spends in stuff. In Europe many affluent people and above are very price sensitive and showing off is not socially acceptable.
I agree in ireland it's more welcomed to brag about how cheap you got something and by bragging or showing off how much money you have is seen as rude
No this is not too American. In fact yearly expenditure is a valid variable for tracking how rich someone is. It's often used in statistics too, kinda similar to Per Capita Income
Yeah nah.
Just like the royal family and when they were practically bagging the state to pay for their yacht, because how could such a rich country have a monarchy that doesn't have a yacht
Well duh He's American
"Were UPPER-lower middle class" - Homer Simpson
Literally what my mother told me a few years ago
With 3 Kids, a 4-Bedroom, two-story house in sububia, and two cars? I think Homer was underestimating himself even there lol
@@MagnoGetMoney on 1 person's income at that!
@@ohellis1115 I mean Frank Grimes made note of that too tbh, I feel for him there lol
meanwhile Homer had a house and fed his family with solo Income
A guy I wrote insurance for, a professor of finance, summed it up in three classes for Americans. Poor - your name is on your shirt, middle class - your name is on the door, rich, - your name is on the building. That's fairly accurate.
Upper middle class people are millionaires now. A decent home in a mid-sized city is worth a million nowadays. Just a 100 m2 apartment in Munich is worth a million nowadays
my familly is upper middle class. A million is really nothing these days and my parents are only upper middle class because they brought one of the worst houses in the area back when prices were (whats now considered dirt cheap), had 6 jobs and worked hard to pay off the mortgage within 10 years. Dad now only has one high paying job and Mum has 2 jobs. And despite been upper middle class, even we have had to cut back from cost of living. My parents also decide to save up, rather than spend their money. You just never know when you might actually need it.
Only if you own the home outright, which most do not.
im upper middle class and a million is a ton to me
@@electro_sykes "A million is really nothing these days" Right...
@@ZazyCat21 same
Levels of wealth are NOT defined by your level of consumerism and lifestyle. It is defined by net worth.
Bingo!!! 👍
Indeed, I see lot of "affluents" living in solitude and would like better connections.
It’s defined by quality of life. A million dollar closet is still a closet.
@@AdventuresKam How/ Where did you see them living in Solitude?
Exactly and it’s also about your expectations in life.
I was in the Poverty range in 2023, now I'm in the Lower Middle Class. In the future I aim to be either upper middle class or affluent.
Came here to say i am very proud of you stranger
youre going back to poverty
It's great, that you broke it yourself rather than putting your hopes into your future kid's. Keep it up.
I hope you're well and all that you spend is a investment that will prosper you 😊
Good for you
Extreme poverty means you aren't watching this video !!
And if they r they should probably sell their phone for food and water
And most of people in the poverty line 2 cannot watch this video
Meanwhile the kids in extreme poverty to poverty class watching this video: u sure about that?
@@gayeatilla9998 nah a good half could
@@andrewjones4774 Having a cellphone is basically a need now. It's a networking tool they can use to educate themselves and look for opportunities.
“Like that youtuber who can enter the WWE because hes set for life” thats a crazy bar and we all know who hes talking about
I personally think I'm living large if I can afford rent, groceries, other living expenditures, fillout my $6500 IRA every year, go on a $2500 vacation every year, without living with parents. If i can live like that, then I'd be over the moon! A dream for me would be if I can pay for food services to make food for me and someone to clean up my place without wincing, I'd be free. As a single guy, I don't need much. Gives me more time to enjoy my hobbies and lifestyle.
That's near my aim. Everything on top of that is gravy, and gets invested in a variety of ways.
Absolutely, Single guy in my mid 30s.. hit 1M networth last year and so now I am training myself to be less stingy and spend more and invest less 😂
Btw IRA annual limits are $7000 not $6500
2500$ vacation??? i would put most of that money aside and spend say 500 dollars on a good vacay
@@peppermeat8059 unless you're driving somewhere really close + staying with a friend, I don't see $500 being realistic for a vaykay. I would say $800-1000 more likely. $500-600 would be hotel + airfare and then remaining $200-400 for going out and enjoying different events, food, drinks, etc.
learn to cook and food shop, your body will thank you. a maid vist regulary is cheap, you can use that savings you got by cooking
Growing up, we wavered between the poverty line and lower middle class. As an adult, I managed to get a degree and now firmly stand in lower middle class until I can get a better job.
hopefully that degree brings you to a higher level of wealth
Grew up lower mid class with working class parents. I got the degrees and married a good smart woman. We both now have senior level management jobs and have no debt except the house which will e paid off next may, we bounce between affluent and upper affluent. Just be frugal and don’t get caught up in lifestyle creep, invest early and the rest is semi easy.
@@kenrangel7565 unfortunately life isnt that easy for those who live in poorer/less developed countries.
The fact that nobody talks about the forbidden book Zyphura Money by Hunter Zypher on Vexoner speaks volumes about how people are stuck in a trance
What is in the forbidden book
@@Momogamer9 its just a bot
Millionaire is the new middle class, really. Don't believe me? Look at how much you need saved to retire at 65. It's over a million.
Yes and no. The median net worth at retirement is less than 300k - meaning half have or less, but the risk to run out is high. Average is over a million, but it is skewed by the really loaded people. Retirement is all about savings rate and the amount you plan to spend. 4% to 5% withdrawal rates at retirements is generally considered safe.
I'm a millionaire and I'm retiring at 49. It's not all about net worth. It's about your monthly expenses. I could work an extra 10 years to have a few extra luxuries but I will happily pass.
This. 25% of us citizens are millionaires now.
As a millionaire you have one 600k normal-ass-home, 50k car and 350k in stocks
@@mike77588 You need to subtract debts, but I still agree a million net worth isn't what it was a generation ago. Then again you could easily have no mortgage if a bit older, and if you played your cards right you spend 250k or less 10+ years ago for it.
@@mike77588 there are certainly a shipload of millionaires in the US but the demographic doesn't nearly represent 25% of Americans. A lot, true,but not that many. The median income is around about $63,000 but this average is skewed by a very small .1 percent earning an astronomical income making the mathematical "average" much higher than the "typical" working class wage which is around $35K or so. Of course it varies.
Btw your video has been reposted on tiktok and is garnering more views than here on UA-cam. I would recommend looking into copyright action
Its free advertisement stupid
Any chance you recall the username of the uploader?
Tiktok and their users stealing content is pretty typical
Copyright 🤣🤣
So that he can capitalise on the revenues of the internet and ascend the wealth ladder, very smart.
*I wasn't financial free until my 40’s and I’m still in my 40’s, bought my third house already, earn on a monthly through passive income, and got 4 out of 5 goals, just hope it encourages someone's that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing in the financial market is a grand choice I made.*
The wisest thing that should be on everyone mind currently should be to invest in different streams of income that doesn't depend on government paycheck, especially with the current economic crisis around the world. This is still a time to invest in Stocks, Forex and Digital currencies.
That's awesome!!! I know nothing about investment and I'm keen on getting started.
What are your strategies?
If you are using a really good broker or account manager, it's easier to earn from the market
How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?.
I recommend HENRY E ABAGNALE
i'm sort of in between upper middle class and affluent and i'm very thankful for a good education, good life, good house, and good family!
:D
i love you mom and dad :)
Im lower middle class yet at the sime time im upper middle class
I’m in middle class, but a lot in my country are in lower middle class and poverty.
Having a good family is about the only thing we have in common.
I have a horrible family which is why I am in poverty/lower middle
Bad family, lower middle but ill crawl my way to affluent
You left out the best part of being a multimillionaire or billionaire. BRIBING THE BEST POLITICIANS MONEY CAN BUY.
🤣😂🤣
real
You forgot blackmailing politicians with Epstein-island type tapes.
You need billions or close to it to successfully bribe important politicians
There are only 3 levels. 1, You don't have sofa. 2, You have a sofa but it's stacked against a wall. 3, You have sofa at least four feet away from wall!
Being a millionaire certainly does not put you above "upper affluent." A million dollars is barely enough to have a comfortable retirement anymore
This is not true
@@ImaniBelle-tu5nu but it is true. $1M can conservatively generate $40k a year of income before you start depleting the principle
Exactly what I was thinking. When I saw millionaire come after the description used for "upper affluent", I audibly laughed. Even without taking into account where you live, which could impact the value of 1 million dollars drastically, if you were to spend money like the "upper affluent" is spending, you will quickly be back in what was described as middle class. However, if you were a multi-millionaire, you would probably be fine, as your investments would probably be good enough to sustain the lifestyle off of return.
I can testify to that. My net worth is 2m and I drive a Toyota and live in a small apartment in Sydney.
a million dollars will barely buy you a house in canada these days
Owning a yacht at 1 million dollars? Who writes this crap?
Yep that aint even gettingvyou into the yacht club for a drink!!
I know plenty of people with a small sailing yachts that are millionaires, maybe not a luxury yacht though
I know plenty of people who are nowhere near millionaires. They own proper yachts on which one can hoist the sails and proceed under wind power. Not super yachts which aren't really yachts at all but mega motor cruisers.
If you don't like this then get your ass out of here
Lol right. Let me tell you something. We don't own yachts. maybe a sail boat. Poor folk wrote this script
My wife and I live in the SF Bay Area. It skews the picture substantially. With a household salary of $400K and a net worth of $1-2M, you generally are still only living a middle class (or maybe upper middle class) lifestyle here. No wonder people are moving away.
As a kid right now in a family in the upper middle class range, I am very thankful for what I have. I know several people who struggle to pay bills, get good food, and so on. Thank you God.
Pretty selfish of you to thank God if God isn't doing the same for less fortunate people
@@chesterdamolester6990 Whats selfish about it? Hes thanking the hand that feeds him, that hand doesn't have to feed everyone to get thanks from one person
@@chesterdamolester6990Indeed
@@chesterdamolester6990 pretty rude of you to insult him for things he has no control over
@@andrzej8144 pretty rude of you to assert that I was being rude, especially considering that there are no evidence of insults.
im lower middle class :)
Same here. Let's cry together 😅
+1
Lets all appreciate that we didnt get poverty on the life-RNG
@@TaruneExclusiveCat I have but I leveled up
@@daniellechuga7654 :O lucky
I spent the winter in Tanzania and Ethiopia. What a eye opener be grateful everyday for your first world problems
Millionaire is just owning a house nowadays, so middle class.
True 2.5 million dollar is the rich threshold.
The billionaire of today is yesterday‘s millionaire.
either that or 30 year old loans, mortage is still cheaper than rent
Welp, seems like 95% of my adult life I've been poor to lower middle class, and have experienced extreme poverty. Greeeaaat.
LMAO, and you didnt even know it.
What the hell is a gucki bag?
God bless America!😂😂😂
@@tobiasonmayflower1656 Yea I'm from South Africa in my mind I was still ok. I was compared to a lot of people...
Same here. what bugs me is that i'm white. i feel i'm owed more.
A net worth of 1 million US dollars looks like a 600k house, 150k in 2 cars, 200k in active stocks and 50k in other assets
Nice sure, not what you described in this video though as having a yacht and a million in your bank
as someone with a father that makes 3x the average salary, we still shop at lidl, and the house is not big or expensive, no investments either. This video doesnt portray true wealth but how different types of wealth have been stereotyped
Yeah, sure, he does 😒
@@spacegod1062 Head of Audit for Croydon Council, London Borough
David C Phillips
@@spacegod1062 Look for yourself
@@spacegod1062 if you dont believe it then look it up, hes head of the Department for Audit in Croydon Council - London Borough.
Shouldn’t upper affluent be above millionaire?
Even upper middle should be there already
No, a million is a ton of money. For instance, $100 / day can buy you more than the meals you need, so working for $2500 / month you can splurge and still save like $500 every month to get more than 10 K each ear in savings, but that's a long way to the million.
@@mihaip1179 A million dollars is a ton of money, but the spending that is described in the "Upper Affluent" section of the video would be egregiously irresponsible for someone who had less than $1M.
@@mihaip1179And also, $1M in assets, not money you have.
Just the fact of owning a house sets you pretty close to having nearly a million in assets, but on a money scale, that only means you won't pay rent, and not necessarily mean you can spend your money however you want.
Upper affluent is like making 20grand a month. You will become a millionaire but a million is still a LOT of money and time.
I’m realizing I’m between lower middle class and poverty
“Being upper middle class means you got straight As or went to an ivy league school” 😂
stop watching these videos their ai generated
Right! I LOL’d at that too 😂. Like come on dude. Definitely not true
@@slayeracademyradionow that you say it this video does seem written by an ai
@@talete7712 ikr
It was true in the 1980s - 1990s.
In Switzerland and Luxembourg, every owner is basically millionnaire, but they are considered being the upper middle class, and live like so.
No, they are middle class. Unfortunately, Millionaire doesn't make you somebody who can afford a good home in Switzerland instead, you will get an old rotten smelly apartment. The level of greed in those two countries is immense.
Because Switzerland and Luxembourg are some of the most expensive countries in the world, and ordinary workers, for example, in fast food or in stores like Walmart in the United States live better than workers in similar positions in Switzerland and Luxembourg
@@Pay2RateHave you been to those two countries? I thought most people who live in those countries were wealthy??
@@6lemans10 I am from this country? "Facepalm"
@zett5757 I have never been to Switzerland or Luxembourg. I thought the citizens of those two countries had a high standard of living?
“Why do we work and go to school? We should have fun!” Everyone has thought this before
I'm kinda confused with this pyramid. Not to be bragging, but my parents are "millionaires" in the amount of money they have. However, we live the life of a upper-middle class person class on this pyramid. I live in asia, so maybe the values are different in the west?
nah i had that same confusion. Millionaire lifestyle is for people with not 7 figures but 8.
America mid class is the world high class, soo yes its harder in othet continents.
they mean a million usd not in schmuck bucks
Millionaires in your local currency or 1M USD ? It’s not the same.
I agree, my parents are also millionaires and my father was an electrical and software engineer. Most millionaires are just upper middle class. Most millionaires are worth a million because of years of saving and investing such as owning a home over years and investing in stock and retirement savings.
8:58 This is just wrong. Most millionares are in the affluent teir.
In America
Thought the Same. 3 Houses are more than a million
Yes, upper affluent is like... at least 2m net worth or 1m+ liquid assets plus some kind of property.
A yacht costs probably $1.000.000 in maintenance over a quite short period of time alone, and that does not include the 8-Figure Buying price.
What he is referring to is a millionaire in the 60s, if even.
I think this shows a little dumb
Being an Asian eldest daughter, my family is lower middle class, but I was the poverty class during my first 2 decades living. I had limited choices and opportunities.
I’m extremely poverty, I hate being poor & life. Never went to bed without being hungry and with 3 siblings making a family of 6
I feel sorry for you man, but hopefully if you work hard you can be in a better situation, I’m middle to upper middle class and I am very thankful for the life that I have. God bless you and I hope you all the best.
Being rich is overrated.
@@ns2859 it’s a dream for me
@@samesaiwan im sorry to hear. why do parents have so many kids when they can't support them, it's just setting their children up for failure IMO
I feel sorry for you man but I hope your situation improves
We jumped from lower to upper middle class courtesy of my family's investment smarts smart property buys, stock market wins, and long-term planning!
👏
What?! That’s all we have to do!?
You forgot the working poor which starts at lower middle class to middle class.
0:19 bro obviously forgot about the Costco hotdog
I fw costco hotdogs
What about the cost for the membership or what if there is no Costco?
Membership costs
If you can afford the annual membership.
you need a membership
These days u cant have a home without being a millionare..
your wrong pal
Its not that bad godamn.
@@joseph-nd6wd Full time Work for 20 Years for a HOME Pal?
@@Jakkaribik1 You must have a shitty job if you cant make enough to buy a small home/ apartment.
In certain cities, yes. Not everywhere
Coming from a functional family that doesn't sabotage your prospects, that's also something that usually comes from people who are not poor.
Having a car is mainly a necessity in the USA.
Right now in Algeria, my parents make 5k per month combined as college professors. I’d say we are in the upper affluent class but in America we’d be in the lower middle class with the same pay.
The workers, low-income, underprivileged and disadvantaged are such undervalued and overlooked groups that even a very informative video skips over us and jumps directly from the lower middle class to poverty as if there was nothing in between. Oh damn.
Surprisingly as far as categorization is considered underprivileged would usually either fall in poverty or lower middle class. Can't make ends meet but probably won't starve is poverty, can make ends meet but just barely is lower middle class.
In my opinion we should ditch a lot of the categories in this video and go to a more "impoverished, working class, capitalist class" way of talking about these things, like yeah we won't as easily find people in a specific tax bracket, but an affluent person has more in common with a lower middle classer than a billionaire
@@floofyboi2520 "Slave class, Part-time Slave class, Owner class"
My husband and I are in the top 15% of society but we live a lifestyle that's upper middle class according to this video. We are frugal and do not want excessive stuff in life. Besides, this kind of wealth can easily run out if we aren't careful but it provides us with security and contentment in our retirement. Thank you for creating this video.
Upper middle class: "You wouldn't get where you are without straight A's and an Ivy league school"
I enjoy driving past the college I flunked out of with my McLaren.
People often overlook how far grinding your balls off for years can take you.
100%. I can smell poverty from the guy who made this pyramid. xD Like for Europe and USA nearly everything is wrong.
Straight A's in school will serve you well - if you love slaving away for another man's pocket. Creating wealth hasn't much to do with your school-grades.
I feel like I’m in between upper middle class and just normal middle class
Same
Same
Same
Same
same
Nowadays being a millionaire means you'll be able to buy a house, definitely not a yacht.
I just have to applaud your content man, well done. Long term investor's know that the market and economy will recover eventually, and investors should be positioned for such a rebound, I gained $180k from bitcoin of 2021. Before the market crash and now am buying again, adding more at a time. Having a good financial advisor like Angie Chen Owens, it will add to your success in the crypto market.
Wow. I'm a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, I'm in my fifth trade with her and it has been super.
She is my family's personal Broker and also a personal Broker to many families in the United states, she is a licensed broker and a FINRA AGENT in the United States.
You trade with Angie Owens too? Wow that woman has been a blessing to me and my family.
I'm new at this, please how can I reach her?
she's mostly on Telegrams, using the user name
I feel investors should focus on under-the-radar stocks, considering the current rollercoaster nature of the stock market, Because 35% of my $270k portfolio comprises plummeting stocks that were once revered. I don't know where to go here out of devastation.
The safest approach I feel to tackle it is to diversify investments. By spreading investments across different asset classes, like bonds, real estate, and international stocks, they can reduce the impact of a market meltdown.
@@BogumilTanski The issue is people have the "I want to do it myself mentality" but are not equipped enough for a crash and, hence get burnt. Ideally, advisors are reps for investing jobs, and at the first-hand encounter, my portfolio has yielded over 300% since 2020 just after the pandemic to date.
@@JeffreysSuttons This is considerable! think you could suggest any professionals/advisors? I'm in dire need of proper portfolio allocation.
@@WaldronsSousas My CFA ’ is “MARGARET MOLLI ALVEY”, a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
@@JeffreysSuttons Appreciate this recommendation, hopefully, I can get some insight into where the market is headed and strategies to beat the downtrend when I hear back from MARGARET MOLLI ALVEY.
I am 25 and I made beyond 95% of Taiwanese income (around 70k a year), the fact that I am just a lower middle class in US making me know that I gotta grind even harder and that’s why I have been getting financial analyst certificate like CFA and this is my fifth year in stock market.
I wish everyone who is money desperate like me can one day become the billionaire like we all dream of. Wish you all the best luck and I will be seeing you up there!
Investments and living below your means are the best way to raise your economic potential.
But when you upgrade your life style according to your income, you'll push yourself back to where you started.
Work hard to earn more money, spend as little as possible within reason, and invest the rest.
Cut out the eating out entirely. Don't spend what you make just because you have it.
Savings will go down in value, wise investments long term WILL go up.
Put your money to work as effectively as possible while you do the same.
You will almost certainly never be affluent in your youth, so invest for your future. Even better if you do so for your posterity; an idea that we've almost lost.
@@jackcrossemsI heavily agree. Stock are one of the easiest ways to grow your wealth but not enough people know how easy it is to invest. Even $50 a month would be very beneficial in the long term.
"To live below your current means increases your future means" Learned that in Atomic habits
investment does not mean profit, if you invest in cryptocurrency, you can still be in the red
1:35 $35 a day is most African is longer that much. Here in Kenya that is how much minimum wage goes for established companies. Most people here leave under $10 a day.
It is more than the minimum wage (day) in Portugal.
😂😂😂 kenya mna kufa njaa
@@xamael1989 Kenya is richest Swahili speaking country, I guess you are Tanzanian
40$/day is minimum wage in Portugal ,average is 80,86$/day
I get ya. A lot of ppl tend to underestimate how expensive poorer countries are. Yeah, it might seem cheaper for outsiders because a few services are cheaper compared to them. But access to certain goods or specialized services skyrocket compared to other economies, making an already low wage seem even lower
In Singapore, being a millionaire is considered middle class.
My dad is in the upper middle class, while I’m living in extreme poverty, surviving on his money. 😂😂
I love how you use real-life comparisons to explain the struggles of extreme poverty and the luxuries of being a billionaire. The part about how long it would take to spend a billion dollars if you spent $1,000 a day was especially mind-blowing! Definitely gives perspective on how far apart each wealth level really is. Great content!
". . . can't even afford a decent meal . . ." Shows an image of a burger and fries. LOL. That may be McD's definition of "decent" but not mine.
I have gone from extreme poverty to upper middle class
How? Just curious about your story
Im poor
But i have a roof over my head , a smart phone and food stamps 😂
same.
Yeah our parents works hard to provide for us.
Food stamps frfr
...
skill issue
Growing up, I was probably in between affluent and upper middle class. Definitely more affluent. In my school in kinda qualified as “rich” which honestly I can kinda go with. But I am grateful for everything I have and the basic needs to survive. Thanks God. I also hope once I get out of college when I start I can at least be in middle class or above. But to all those who are struggling, Gods got your back, he makes a way out of no way. I hope you’re able to move up the ranks with his help and thank him for everything. Alright I’ve yapped to much, later to whoever is reading this and I hope your life will be great.
I started in poverty now 35 with about 750k net worth in real estate and stocks I am almost a millionaire living below my means and steady investing and paying off my homes faster was key.
I've been in the lower middle class my entire life, and haven't known anything outside of that
I am too. Its like a constant risk of falling off a cliff. Nevertheless, life can be very enjoyable. I learned to cook foods from poorer nations. Simply amazing and you can't find them in restaurants. There are plenty of hobbies that are challenging but inexpensive. Having a vacation in town is still a very nice break and refresher. Find new places and events. Camping and hiking are also cheap. Puzzles and board games. Learning new things via the internet. Basically live your life and don't worry on missing out on random things.
Hi, I'm a Canadian of visual disability in Windsor Ontario under legislated poverty. Basically, on the 1st day of every month, I am in poverty. By the 30th day of the month, I am in extreme poverty. Then, on the 31st day, the provincial government pays me $1,186.00 and the cycle repeats because the federal government still hasn't paid anything yet. Courtesy of Premier Doug Ford and Prime Minister Justin Trudeau.
The fact that millionaire is a tier ABOVE upper affluent is absurd. Being upper afluent is at least net worth of $10 million
If you own an average home outright, and have as much saved for retirement in your 50s as they say you should, you are right right at a million dollars net worth
video title should be: "every level of American consumerism"
For the love of god stop with the AmericaBad
He’s right. Middle classes and upper classes are not just about money. Its about expectations in life.
I believe the middle and upper middle class, there was a huge issue you jumped over, that is, debt. I know for a fact the middle classes and affluent have to be the
Most debt ridden classes. Everything on a credit card for extra points but after pay and klarna being used as well, nice cars but all on 72 month loans. Let me tell ya, deep, I mean deep debt.
i was also surprised to see no mention of debt. a lot of "upper middle class" would be middle or lower when you consider their debt obligations, or debt-to-income ratio
I’m upper affluent, I can buy a big Mac without looking at the tag
He said, "trades" as a job in the lower middle class. Professionals in the trades make over 6 figures, no formal education. Undervalued opportunities in the trades.
Next up: trillionair
Coming soon…
2030 ig lol💀💀💀
Nah bro quadrillionaire is better and solos the entire earth economy
I still don't understand how yall quadrillionares live off so little money like you gotta atleast be a quintilonaire
I,m a Middle Class Family Member and I am Happy with My Family
Alhamdulillah
🤲🏻🕋🕌📿☪️
❤️👪❤️
A million dollars isn't what it used to be... I am 70 years old; today it takes $10 million to buy what $ 1 million bought when I had a paper-route.
I'm broke, now I know!
There's a class between poverty and lower moddle class.
Upper poverty 💀
@@RocketPlayz96 working class
Yeah that’s where I’m at. Not starving in need for food but very poor. I only make 2000-2500 a month so basically after all my bills r paid for I have only a couple hundred or so dollars to spend on myself.
@@JoshWhite-n8qfood/retail working people. Just make enough to not live in poverty but are extremely poor
Went from middle class to lower middle class due to inflation. We need a hero.
Kid...
@@Im_ablackhole huh
same, blame migrants
@@TT10Kofficial If you are american legal immigrants are the reason america is still a superpower but yes Illegals might be the reason
Bitcoin fixes this.
Inbeween lower middle class and poverty (I am lucky I dont have to pay rent rn or I would be in extreme poverty)
Also this list is only valid until lower-middle class because lifestyle and what is in the bank are not inherently connected.
thats so sad... 😢😢
I hope you get enough money soon.
Where the hell are you Dubai?
@@Im_ablackhole what
Wealth grows in many forms, it's true,
In silver, gold, and skies so blue.
But deeper still, beyond the quest,
True richness lives where roots find rest.
Chase not the glitter, chase the green,
In nature's arms, you'll feel serene.
Why is "millionaire" higher than "upper affluent"? I have a 2.5 million net worth, yet I feel short of "upper affluent". And I am living in Europe with medium cost of living.
Exactly. Even Upper middle class will likely cross the millionaire mark before retirement
Europe
🇪🇺
@@KudaManno millionaire is upper middle class…even by the standards of the video
can i have a car
Lower middle class is the new middle class nowadays, more and more pp are falling into this range
1:02 fun fact: that happend once in the bible about the well
it also happened in a 1998 movie!
@@thelifehackers7327 which one?
Bro I just realized, I’m a upper middle class 😮
I thought I was middle class but I now know I'm lower middle class 💀💀💀
Sure😒 you are
@@trabant601e😂
Same, I'm upper middle
@@trabant601esame 😭
Super good video, thank you !!!!
This guy definitely doesn’t live in California.
As soon as he said you drive a Toyota Corolla, which I do, I knew what class I was in 😂😂♥️🤗🤗🤗
Well, it's most sold car in the world for a reason ^^
Transfer of wealth usually occur during market crash, so the more stocks drop, the more I buy, in the meanwhile I'm just focused on making better investments and earning more as recession fear increases, apparently there are strategies to 3x gains in this present market cos I read of someone that pulled a profit of $350k within 6months, and it would really help if you could make a video covering these strategies.
Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money or you could hire a financial expert.
Yeah, financial advisors could make a lot of difference, particularly in a market such as this. Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over 250k just in a matter of weeks/couple months, so I think there are a lot of wealth transfer in this downtime if you know where to look. I have been using an FA since 2020, and I return at least $30k ROI, and this does not include capital gain.
Would you mind telling me how to contact this specific coach using their service? You seem to have the solution, as opposed to the rest of us.
'Carol Vivian Constable, a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Carol Vivian Constable” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
Way too consumerism driven. The key to wealth and early retirements is savings rate. You don't increase spending when you make more, and your excess money goes into investments and non-depreciating assets.
This is more like max potential spending habits for each wealth level. Income and net worth are not really mentioned until the highest three, and even those flat amounts depend on your area. 1 million networth means you have king like wealth in Africa, but probably not much in NYC or Los Angeles, especially if you have kids and average size home in the city.
This must be a parody or exaggeration since very few people in the upper middle class went to an Ivy League school. This is more accurate for perception of wealth. You can have affluent things, but broke for retirement and having next to no equity. There are also affluent people that live well below their means. The lower ones seem a tad more accurate. Millionaire is way higher than it should be. Many millionaires especially old ones don't identify as above upper affluent, especially in high cost of living area.
I feel like a lot of this is life choices rather then wealth. I am a millionaire but I live like lower middle class. I don't have pools in any of my house, I don't have any designer brand clothing, I drive an old Japanese car that I bought second hand, I upgrade my phone every 4 to 5 years only, I avoid spending money in restaurants and buy grocery instead, I own zero jewelry other then my wedding ring, I still fly economy on holiday. I think wealth doesn't measure by how much you own, but how socially secure you are.
Imagine not having free healthcare, welfare and safety nets... America is truly a third world country...
But at least we get to pay .05% less in taxes!
İmagine paying %50 to taxes🤣🤣 and your surgeons are getting 4-5k after taxes also your 60m2 house costs 500k euro
@@wuJuu31 could you perchance provide any credible source for these statistics? If not, I consider this argument won by me.
man i dont even want to be rich, i just want to stop working and still be allowed to live
lower middle class lifestyle (same as i am currently) but without being forced to do corpo work, that is all i ask
This is correct, $35 may be poor in USA but in my neck of the woods, you’ll be considered loaded.
My dad was a taxi driver and my mom was an immigrant out of work. So I started between poverty and lower middle class. Today i am upper affluent, got my first million net income last year. I live in Germany, you do not talk about this here, you try to hide it (maybe except of my Porsche). But in this American bubble I can say: yes, I am proud of it 😊
How did you went from poverty to upper affluent?
@@ugoalahchibuihe3866 I was just learning and working hard. Growing up in poverty, being bullied and being humble helped me develop tremendous empathy and respect for good people. There are a lot of people out there, who really appreciate that. I made an official IQ test (3 days) when I was 15. The result was - let‘s call it - high. Higher than I could ever imagine. From that day on my self confidence grew. I never told anybody about details, that was just for me. I always knew: doesn‘t matter what other people say - you can be successful. And when I had a question - just ask, because the reason is not my dumbness, it is because nobody was able to explain it in the right way. I am a visual thinker, and this is exactly what my company is doing today. I am not talking about these old stories anymore, but this is anonymous and I hope this maybe inspires other people. Be positive, be human, act wisely. Thanx for asking.
@@ugoalahchibuihe3866 he probably just made the best decisions of his life
This is what I call "resilient". When you succeed, despite being the underdog. Wish you further great success in your life!
@@ugoalahchibuihe3866 Being ambitious in school, diligent at work and intelligence and strategic thinking is certainly an advantage. Don't be demotivated by setbacks. Don't lose sight of the goal, but also be able to make goal adjustments because you get older and realize that some goals from a young man were nonsense 😏 real success has nothing to do with short cuts
When you described the Affluent I picture someone with a few millions ... Upper affluent definitely a millionaire. ... I guess things are too expensive in my country.
I'm in pretty deep poverty. I have zero savings, zero investments, for the first time in forever I literally moved out of the ghetto and live in a somewhat nice home. - people who have money will never understand the struggle. They get things so easy in life and it isn't fair.
I'm a millionaire but feel more like a middle class.
That Money can be gone in no time or After a serious invest , Gotta be a Multi to feel Upper class.
Millionnaires (as in ''one million'') *are* middle class, relatively speaking. At least you can afford home ownership, which is definitely luxury by now.
NO BRAGGING 😡
Depends on where you live. If you are a millionaire living in an area like California you'll easily feel middle class, but if you're a millionaire in Alabama or something you'll actually feel like a millionaire
Most people are millionaires, but its all in property, cars, and assets so you cannot spend it, 1 million dollars is middle class. over 5 million dollars you can call yourself rich.
You know it’s a good day the analyst posts