irvinehomeowner
Well-known member
That's reported income.peppy said:
Factor in the FCBs, large student population and those numbers are probably higher.
$250k and middle class
- Thread starter bones
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Factor in the FCBs, large student population and those numbers are probably higher.
irvinehomeowner
Well-known member
No can do.peppy said:irvinehomeowner said:
Show me the data and I'll believe you.
The IRS is watching.
irvinehomeowner said:No can do.peppy said:irvinehomeowner said:
Show me the data and I'll believe you.
The IRS is watching.
The bigger question is how healthy are the retirement accounts on those households after blowing the income on "safe" neighborhoods,"good" schools and living an upper middle-class lifestyle. My guess it's only trickling into that 401(k) if at all. After all, we know that owning an Irvine home is a ticket to fortune once we retire.
usctrojancpa
Well-known member
Not really, after the IRS and Franchise Tax Board and 3.8% Obama Medicare Tax along with being self employed some of us single folks are left with about 50% of what we've earned.FARMMMMMIE said:
nosuchreality
Well-known member
You're all being too literal. This is southern California. Not really different than New York, London or elsewhere were we actually can cross paths with the 1%. In fact, most of you are living in the product of one of them.
In my view, the top is north of $50 Million net worth. That's the 1%.
Then the wealthy, those with networth north of $5 Million.
Everything below that down to the poverty line is middle class whether you like it or not. You might be more comfortable. You might not be fretting over paying the electric bill, but your still middle class.
Even those with net worths between $1-$5 million are still just one good screw up, unfortunate event or happenstance away from the long slide to the bottom of the economic ladder.
In my view, the top is north of $50 Million net worth. That's the 1%.
Then the wealthy, those with networth north of $5 Million.
Everything below that down to the poverty line is middle class whether you like it or not. You might be more comfortable. You might not be fretting over paying the electric bill, but your still middle class.
Even those with net worths between $1-$5 million are still just one good screw up, unfortunate event or happenstance away from the long slide to the bottom of the economic ladder.
It is reasonable to consider household with net worth between 1-5 million as upper middle class.
We have a lot of millionaire household in Irvine and OC in general. Of 935,287 households in OC, 116,157 household have a million dollar or more excluding the value of their primary residence. That's a little over 12% and definitely higher in Irvine.
10% of California's millionaire household lives in OC. There are 116,157 millionaire household in OC. However that was 2006 data and that's the total net worth over a million dollar excluding the value of their primary residence.
Base on more updated data, when it comes to the sheer total of millionaire households in each state, California has the most, with 777,624 millionaire households.
We have a lot of millionaire household in Irvine and OC in general. Of 935,287 households in OC, 116,157 household have a million dollar or more excluding the value of their primary residence. That's a little over 12% and definitely higher in Irvine.
10% of California's millionaire household lives in OC. There are 116,157 millionaire household in OC. However that was 2006 data and that's the total net worth over a million dollar excluding the value of their primary residence.
Base on more updated data, when it comes to the sheer total of millionaire households in each state, California has the most, with 777,624 millionaire households.
irvinehomeowner
Well-known member
It's interesting that NorCal is 8th on that list.
Not enough Hollywood actors live up north I guess.
Not enough Hollywood actors live up north I guess.
irvinehusky
New member
I would imagine Irvine (especially in some SHADY areas) has its fair share but I would guess a good chunk of the Orange County millionaires live south of here near the ocean.
irvinehusky
New member
Very true. That's why I find these things about "millionaires" useless since a millionaire isn't what it used to be. Back in the 60's and maybe even in the 70's when someone mentioned a millionaire it really meant someone with a lot of money. Especially now that young people can earn six figure salaries quite early I'm sure getting to a million isn't that hard. That didn't happen much in our days. As a commercial used to say, we had to earn it. Not saying young people now aren't earning it but the bar has been raised to probably a deca-millionaire before anyone can be asking for Grey Poupons.
bones said:
irvinehomeowner
Well-known member
That was my point.eyephone said: