2 points
You’re spot on. I do want to point out, though, that upper middle class in the US is a household income of 90k to 150k. 500k would be solidly upper class. My apologies if you’re referring to a different country.
3 points
I suspect that those numbers may be higher now, though. $90k won’t buy you a house in any sizeable city, you really need to be at the $150l+ level. I take your point that $500k may have been a bit of an overreach in my original comment.
1 point
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