[citation_please]

This is a very challenging view-point, and I appreciate the effort you've put into backing it up. I think my biggest hesitation of accepting its results is the difference between annual income and wealth. By this study's standard, I'm nearly upper-middle-class, but I have a negative net-worth due to student loans. If my employment status came into question, I would be very quickly impoverished, and would have to rely on many social and governmental safety nets. Can this really be considered rich?

Maybe I'm an outlier as an individual in my mid-20s, but it's enough to make me question the definition of class on annual income.

[TangoTrotFox]

Did you know that 72% of people with at least $1-$5 million of investable assets do not consider themselves rich> As that article mentions even multi millionaires are also constantly concerned about losing it all. Your situation does not change, at least not for many people. The numbers and reasons might, but not the general concern. Consider the ostensibly rich person with a fancy house, a beach house for holidays, a couple of luxury cars, and a couple of kids he's paying through Harvard. In reality that often translates into two mortgages, two car bills, and another $150k a year for college. It's the same scenario there. Until that wealth is 'consolidated', if his income slips up his life is going to be devastated. It's only the ultra wealthy one can start to become divorced from financial concern or even outright risk of ruin. And I think the fact that we can realistically set that as a goal ourselves now a days is probably a sign something good has been happening over the years.

[1] - https://abcnews.go.com/Business/study-28-percent-millionaire...