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  #1  
Old 12-11-2008, 03:07 PM
bronto18 bronto18 is offline
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Default What income you should have to be considered upper middle class?

What income you should have to be considered upper middle class? Living in Toronto.
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  #2  
Old 12-11-2008, 03:09 PM
Jason Jason is offline
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I would say at least $500,000 per year. This is not as much considering that the government grabs almost 50% of it in taxes.
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Old 12-12-2008, 02:34 PM
bullish bullish is offline
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I think that anybody earning $100K+ is a middle class and anybody earning $300K+ is upper middle class.
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Old 12-12-2008, 02:48 PM
Zephyr Zephyr is offline
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$300K+ is upper middle class. Anything beyond I would consider rich. As Jason pointed out don't forget that 50% of it goes back to the government for taxes so if you earn $300K you are left with only $150K...
Don't forget that the majority of the population in Canada earns between $30K and $50K per year!
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Old 12-15-2008, 02:29 PM
Canadian Canadian is offline
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I think $200,000 and more per year will be upper middle class, like doctors, dentists, lawyers, etc.
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  #6  
Old 12-16-2008, 04:23 PM
bronto18 bronto18 is offline
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Quote:
Originally Posted by Zephyr View Post
Don't forget that the majority of the population in Canada earns between $30K and $50K per year!
That's true but people with income like this don't live in North Toronto I guess...
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  #7  
Old 12-18-2008, 02:13 PM
Jason Jason is offline
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Toronto is one of the most expensive place to live worldwide. There was a post on these forums a few weeks back, how Toronto is the 2nd most expensive city second only to New York. In fact if you don't count housing, everything is cheaper in New York.
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