A new GOBankingRates survey highlights how perceptions of wealth vary widely among Americans, with generational divides shaping what people consider “upper class.”
The poll of 1,000 adults found that 35% of baby boomers — born between 1946 and 1964 — view annual earnings between $100,000 and $250,000 as sufficient for upper-class status. Another 20% said it would take more than $500,000. Millennials, born between 1981 and 1996, showed similar views, with 37% saying the $100,001–$250,000 range qualifies.
Generation Z respondents, many of whom are just beginning their careers, expressed more modest expectations. Over one-third said an income between $75,001 and $200,000 would make someone “upper class.” The survey did not include responses from Generation X.
According to U.S. Census Bureau data, the median American household income stands at $83,730. Financial experts often define “upper class” as earning roughly twice that amount — about $167,000 — while reaching the top 5% of earners requires around $336,000 per year. To enter the top 1%, income must exceed roughly $731,000.
The results underscore how inflation, housing costs, and shifting economic expectations have reshaped Americans’ sense of financial success.
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