What income you should have to be considered upper middle class?

[bronto18]

What income you should have to be considered upper middle class? Living in Toronto.

[Jason]

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.

[bullish]

I think that anybody earning $100K+ is a middle class and anybody earning $300K+ is upper middle class.

[Zephyr]

$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!

[Canadian]

I think $200,000 and more per year will be upper middle class, like doctors, dentists, lawyers, etc.

[bronto18]

Originally Posted by Zephyr

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...

[Jason]

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.