"Many upper-middle-classers don't even realize they've climbed into this tier. Randy Shilling, a 58-year-old chemical plant worker in Texas, saved more than $3 million for retirement. 'I view myself as an average Joe,' he told The Wall Street Journal. 'But when I want something, I go get it.'"
"Upper middle class ranks are swelling because wages have grown faster than prices over time, especially for college-educated workers, researchers at the American Enterprise Institute found."
In 2024, 31% of Americans belong to the upper middle class, a significant rise from 10% in 1979. This group typically includes families of three earning between $133,000 and $400,000 annually, primarily consisting of white-collar workers with college degrees. Many individuals in this income bracket, like Randy Shilling, do not recognize their status. The growth of the upper middle class is attributed to wages increasing faster than prices, particularly for college-educated workers, according to researchers at the American Enterprise Institute.
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