To qualify as upper class in the U.S., the median family of four needs to earn an annual income of at least $144,251, and in some more expensive cities vastly more. To place in the top 1 percent of Americans, they would need to bring in at least $389,436.
But do either of these comparative distinctions make you "wealthy"? It depends on how you define wealth.
He says you only need to ask yourself one simple question to determine if you're "wealthy" or not: If you lost your job tomorrow, how long could you survive?
It's easy to judge wealth as a function of what you own, but Sall argues that material possessions say nothing about the real state of your finances. "Heck, you could drive a $40,000 BMW and live in a $500,000 home, but if you're $600,000 in debt, then you're actually worth less than a 7-year-old child," he writes.