General Discussion

jg10003

(976 posts)

42. Upper middle class is not the same as rich. A two income family of professionals (dentists, ....

Sat Apr 13, 2019, 03:48 AM

Apr 2019

lawyers, CPAs', systems analyst, etc) will have an income in the low six figures. With intelligent budgeting, and conservative investments (e.g; a couple of rental properties or long term mutual funds), they can expect to have $2,000,0000 by retirement. That allows them a comfortable retirement without constant finiancial worries. But they are not wealthy. There won't be any 200 foot yachts, private jets, or 30 room mansions. Although they are better of than many, or even most, people, they are not part of the plutocracy that runs the world.

Edit history

Please sign in to view edit histories.

120 replies

= new reply since forum marked as read

Highlight:

I feel so out of place...To me $ 2 million is a fortune. But today I'm reading on DU that it isn't [View all] lunamagica Apr 2019 OP

Sounds pretty well off to me. RandySF Apr 2019 #1

I think it's a big deal halobeam Apr 2019 #2

Not if you qualify for Medicare. All the people I know on Medicare get a "gap" policy for pnwmom Apr 2019 #5

Mine is $35/mo this year. Highest was I think $125. Lowest was zero... pangaia Apr 2019 #8

I think my mother's was higher than that, but I don't really know. She just had it automatically pnwmom Apr 2019 #9

I still pay the $135/mo, or whatever it is exactly, pangaia Apr 2019 #12

I pay a lot for Plan G (it pays for almost everything Medicare base plan doesn't). Honeycombe8 Apr 2019 #85

Yes, Advantage Plan with Excellus. MVP is also in Western NY. pangaia Apr 2019 #90

Oh. We don't have that. How can a state have a plan that works with Medicare... Honeycombe8 Apr 2019 #91

I think every state has Advantage plans, at least as far as I know. pangaia Apr 2019 #92

A medigap or supplemental plan is NOT what is deducted from your Social Security. llmart Apr 2019 #57

I chose the Plan G, too. I don't knw if that's overkill.... Honeycombe8 Apr 2019 #86

I have United Healthcare also. llmart Apr 2019 #93

Thank you. Honeycombe8 Apr 2019 #97

I have the F plan dhol82 Apr 2019 #105

It gets that expensive? Maybe that's why they're discontinuing it. Honeycombe8 Apr 2019 #106

Well, that sounds a bit scary - this is my seventh year. dhol82 Apr 2019 #110

I have the discount written down somewhere. Honeycombe8 Apr 2019 #113

Interesting dhol82 Apr 2019 #114

That's the monthly payment that you make to Medicare--Part B of $135.50 per month in 2019 Bengus81 Apr 2019 #118

Even better is an Advantage plan....... WillowTree Apr 2019 #15

How can they afford to offer anything for no premium? Just wondering how that works. n/t pnwmom Apr 2019 #18

Medicare pays all or most of the Part B premium to the insurance carrier. WillowTree Apr 2019 #19

They're almost always HMOs Liberal In Texas Apr 2019 #20

Okay, that makes sense. And, no, I don't want to be tied to the local HMO, pnwmom Apr 2019 #99

There is a premium. n/t Liberal In Texas Apr 2019 #22

This is a Medicare Advantage plan. LiberalBrooke Apr 2019 #61

The way I see it they offer no premiums by having higher deductibles LiberalFighter Apr 2019 #98

My wife goes on Medicare in June. Her gap policy costs $0. She added a dental/visiom/hearing benefit stopbush Apr 2019 #39

And the irony is that so many of these people were extremely critical of Hillary and Bill pnwmom Apr 2019 #3

I think they came out of the WH owing millions because of the legal fees from the continuous deurbano Apr 2019 #24

Yes -- I had forgotten about that! n/t pnwmom Apr 2019 #26

I guess its one of those relative things. ooky Apr 2019 #4

I have worked consistently for over 40 years revmclaren Apr 2019 #6

Bingo Me. Apr 2019 #80

Oh. This is a disguised Bernie thread. Ms. Toad Apr 2019 #109

Wow... Strange that you would automatically come to the conclusion revmclaren Apr 2019 #111

Hmm...who was in the news recently Ms. Toad Apr 2019 #116

Sounds like the MSM has a handle on this... revmclaren Apr 2019 #119

I'm pretty sure that DU runs the gamut in terms of income. MissB Apr 2019 #7

Sounds like they are rich. BigmanPigman Apr 2019 #10

It is a lot of money. But the context of the discussion seems to be The Velveteen Ocelot Apr 2019 #11

Right. And it also depends on where the homes are located. pnwmom Apr 2019 #13

Just as an example, a small townhome in spooky3 Apr 2019 #25

Interesting. That's even more than I would have guessed. n/t pnwmom Apr 2019 #27

Here's a real estate search site that's fun to use as a looky loo spooky3 Apr 2019 #30

Wow. The prices for a 2/1 are kind of shocking. n/t pnwmom Apr 2019 #32

Yes. It's really expensive to live in this area. BS spooky3 Apr 2019 #62

Kinda puts a spike in the socialist label a little bit. TeamPooka Apr 2019 #33

We have no money. LakeArenal Apr 2019 #14

"It's not that $2 million is a lot. It's that $15 an hour or SS is not enough." Ohiogal Apr 2019 #58

I agree the min. wage should have a base of $15/hr nationwide... Honeycombe8 Apr 2019 #88

I think you nailed it. We have to be frugal... Joe941 Apr 2019 #103

Yes Hekate Apr 2019 #79

How old are you? Retired? Liberal In Texas Apr 2019 #16

I love your mind set. Ohiogal Apr 2019 #63

If I had $2 million, I would immediately stop working and retire. Yavin4 Apr 2019 #17

Back in the recession and high unemployment LakeArenal Apr 2019 #21

Suggestions like that always have a catch DFW Apr 2019 #43

With socialism it would be possible. Simply by taxing the rich and equalizing the lower income... Joe941 Apr 2019 #47

Ideally, maybe, but the devil is in the details DFW Apr 2019 #48

Thanks. There always seems to be an excuse as to why we can't equal wealth. LakeArenal Apr 2019 #68

How do you "equal wealth" Lurker Deluxe Apr 2019 #96

Doesn't scare me and many others. LakeArenal Apr 2019 #100

You Just Described Me & My Wife ProfessorGAC Apr 2019 #55

He doesn't have $2M cash. It's in those 3 houses, mainly. And continuing income. Honeycombe8 Apr 2019 #89

"Write a book, you can be a millionaire too." betsuni Apr 2019 #23

Yeah . Bookwriting. Speeches too. apcalc Apr 2019 #35

It's illegal for a serving senator to make paid speeches. betsuni Apr 2019 #36

2 million for some is nothing SHRED Apr 2019 #28

It's not unheard of Lithos Apr 2019 #29

We're retired. Stonepounder Apr 2019 #31

He is the 1% samir.g Apr 2019 #34

Definitely not.... infinite_wisdom Apr 2019 #41

His income is in the 1% range. TwilightZone Apr 2019 #78

Being a millionaire doesn't automatically make you a bad person. Flaleftist Apr 2019 #65

Who said having money made you a bad person? My question was if mor Americans, the Average lunamagica Apr 2019 #82

This wasn't a response to your OP. Flaleftist Apr 2019 #112

To me, this is in the same category as the 2010 "Is $250K rich?'" nonsense... JHB Apr 2019 #37

I live in a 2006 Class A motorhome full time in an RV park, for now, in Crossville, Tn. That's my SammyWinstonJack Apr 2019 #38

I think DU is on the upper end scale Beringia Apr 2019 #40

Upper middle class is not the same as rich. A two income family of professionals (dentists, .... jg10003 Apr 2019 #42

People are getting these two things confused, thanks for clarifying. nt UniteFightBack Apr 2019 #67

Thank you. Much more succinct than how I put it in #37 above. JHB Apr 2019 #75

It is also not the same as "poor," or "poorest," terms that have both been ascribed at various times pnwmom Apr 2019 #117

Lol, I'd take a lot of what you read on the internet with a grain of salt. Tipperary Apr 2019 #44

There are some feds that may have that much nitpicker Apr 2019 #45

It's tougher now for those starting out even if they graduated and got hired by the feds nitpicker Apr 2019 #52

And for the $10 an hour workers nitpicker Apr 2019 #54

This thread reminds me of a quote from one of my favorite books: DFW Apr 2019 #46

I live in a 24k house but I won't knock a person who has 3 homes and 2 million. Kaleva Apr 2019 #49

well, everything is relative - to me, that's an inconceivable fortune...to a rich person, a pittance anarch Apr 2019 #50

Only greedy people vlyons Apr 2019 #51

What is this thread about??? Who has 2 million and 3 homes? Everything is relative. sarabelle Apr 2019 #53

Bernie, a well paid US Senator wrote 2 books and became a millionaire. Autumn Apr 2019 #69

No. The point is there's a difference between $2M and $2 BILLION EndGOPPropaganda Apr 2019 #56

The problems are caused by selfish people with evil intentions, not the number of zeroes DFW Apr 2019 #72

That's true. But the billionaires have much more influence EndGOPPropaganda Apr 2019 #107

What are you talking about? My question was if most Americans thought that two million and three lunamagica Apr 2019 #81

Republican talking point: hate the millionaires... EndGOPPropaganda Apr 2019 #108

After a lifetime of investments I hope to have to 2 million when I get close to retirement aikoaiko Apr 2019 #59

No. I agree with you. ananda Apr 2019 #60

I'd consider myself wealthy with $1 million mcar Apr 2019 #64

Message auto-removed Name removed Apr 2019 #66

Hmmmm. It's the American dream. LakeArenal Apr 2019 #70

I was a bricklayer for most of my life. panader0 Apr 2019 #71

THen Imagine How You'd Feel With $3851.08 A Month Me. Apr 2019 #83

Just wait until you find out about FDR ProfessorPlum Apr 2019 #73

LOL! Coventina Apr 2019 #74

It is the intellectual flexibility BlueFlorida Apr 2019 #76

As I noted in a couple of those threads, to many, many people, $2.5m is a fortune. TwilightZone Apr 2019 #77

It's a matter of money as it relates to age, yrs of working, and income level. Honeycombe8 Apr 2019 #84

Owning three homes sounds like a horror story JustABozoOnThisBus Apr 2019 #87

Imagine three plumbing bills. Codeine Apr 2019 #94

I imagine that people who own three homes have staff to take care of all the unpleasant chores lunamagica Apr 2019 #95

I know a few people with two homes. JustABozoOnThisBus Apr 2019 #102

Two million is well-off anywhere. Yes, even in places like Manhattan or San Francisco. John Fante Apr 2019 #101

I have no experience with money.. stillcool Apr 2019 #104

I live outside of Vancouver. $2mill is nothing. EllieBC Apr 2019 #115

It's a HUGE damn deal. GaYellowDawg Apr 2019 #120