With a $500,000+ income, you are considered rich, wherever you live! According to the IRS, any household who makes over $470,000 a year in 2021 is considered a top 1% income earner.

What salary do you need to be considered rich?

The NSW figure is a bit more modest as wages in Sydney are generally higher. To be included among the states top earners, household income needs to be $4493 a week ($233,636 a year).

Is 200k a year middle class?

At $200,000 a year, you are considered upper middle class in expensive coastal cities and rich in lower cost areas of the country.

Is middle class a working class?

What Is the Middle Class? The middle class is a description given to individuals and households who typically fall between the working class and the upper class within a socio-economic hierarchy. Those in the middle class often are employed as professionals, managers, and civil servants.

Is 70k a year middle class?

Statisticians say middle class is a household income between $25,000 and $100,000 a year. Anything above $100,000 is deemed “upper middle class”.