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Sun 9 May, 2010 08:27 pm
Quote:Most millionaires share the values of their moderate-income parents, says Lewis Schiff, a private wealth consultant and Prince’s coauthor
How much does one earn to put him into the "moderate income" bracket?
@fansy,
What about people whose annual incomes are around 30000 to 5 50000 USD?
@fansy,
What about people whose annual incomes are around 30,000 to 550,000 USD?
That space that you had in the 2nd figure [5 50000 USD?] kinda threw me a bit, Fansy.
$550,000 is not a moderate income. I'll let others give you an idea of what constitutes a moderate income.
@JTT,
Sorry.
It should be "What about people whose annual incomes are around 30,000 to 50000 USD".
@fansy,
That's what I figured, Fansy. I'm surprised that no one has given you examples of moderate income. I guess all A2Kers are in high income brackets and they have no idea what the riffraff make.
I don't think there is any formal category called "moderate income", so it's gonna be imprecise and subject to one's individual perception. Median household income in the US (the aggregate of all the income from all sources for all members of a household) is around $50,000 a year, i.e. half the households in the country make more than that, half make less. So my take on it would be roughly $60,ooo or less. Below maybe $25,000 would be "low income", but in the context of the quote, you'd probably lump that in with "moderate income".