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The idea of what the upper middle class will be like in 2023 is complicated because it depends on where you live, the size of your family, and the economy.
ARE YOU AN UPPER MIDDLE-CLASS INCOME EARNER?
According to Go Banking Rates, the upper middle class in the U.S. generally includes households with incomes ranging from $150,000 to $250,000. However, this range can vary based on location, family size, and economic conditions.
The upper middle class has higher incomes, more schooling, and professional jobs that allow them to get better housing, healthcare, and education. Upper-middle-class families in 2023 have an average income of between $150,000 and $250,000, which puts them in the 75th to 90th percentile of income distribution.
Factors influencing the status of the upper middle class include geographic location, household size, and inflation rates. Education, job choices, savings, investments, and financial stability are also essential to becoming and staying in the upper middle class. The upper middle class has to deal with problems like rising costs, saving for retirement, making sure their kids get a good education, and paying a lot of taxes.
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Keep in mind that this number can be very different depending on where you live, the size of your family, and the economy. The desire for this status shows how important education, job planning, and smart money management are for long-term financial security. In the end, families in the U.S. in 2023 that make between $150,000 and $250,000 a year are in the upper middle class.
The Motley Fool stated that the bottom 20% of earners in the U.S. are considered to be the lower class, while the upper class is made up of earners in the 20th percentile of household incomes.
Pew Research Center has an income calculator on their website. You may try to check it out.
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