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In the united states the upper middle class is defined as consisting mostly of white collar professionals who not only have above average personal incomes and advanced educational degrees 1 but also a higher degree of.
Income upper middle class. But of course the relative strength of. Only savings are 80c ie 1 5 lacs for tax exemptions. Let s take it one step deeper and look at various household sizes. Based on the same poverty threshold number the former must make between p125 772 and p209 620 in a month and the latter anything beyond those numbers.
Pew research center defines middle class as those earning between 67 percent and 200 percent of the median income which works out to income between 39 560 and 118 080. By that formulation the upper middle class might be the fourth highest income quintile the one above the middle but below the wealthiest. An annual inhand income of 4 8 lacs. That means an upper middle class salary in the tennessee might barely qualify for middle class in massachusetts.
The american upper middle class is defined similarly using income education and occupation as the predominant indicators. That ranged from 48 500 to 145 500 in 2018. The median income of the middle class by by household size. Buy and maintain a.
Hence lower middle class status starts at approx 6 lacs annual income before taxes and savings. A family of 4 which can rent a 2 bedroom apartment in a average area of city. The think tank defines the middle class as households that are earning two thirds to double the national median. They manage to save some money for retirement.
Those households range from 74 875 to 121 017 in income nationally. Pew defines the middle class as households that have an annual pre tax income that is at least two thirds to double the national median. There are other ways to think about the matter. After middle income class only two classifications are left.
The upper income class and the rich.
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