When talking about economic disparity in the United States, politicians and advocates tend to focus on the top 0.01% and the bottom 90%.
An influential percentage of the population exists between those two demographics: The 9.9%, or the “semi-rich,” according to philosopher Matthew Stewart, author of “The 9.9 Percent: The New Aristocracy That Is Entrenching Inequality and Warping Our Culture.”
The net worth of that group ranges from about $1.2 million to $20 million per household, Stewarts says. Those assets include cash savings and investments, as well as real estate. Many members of the 9.9% don’t feel enormously wealthy but they are still doing better than the vast majority of the country.
“The interesting thing about this class is that it’s held even,” Stewart says. “People who make it in that group tend to hold on to their cash. People above that have seen their fortunes triple and people below that have seen their wealth decline.”
https://grow.acorns.com/the-semi-rich-americans-who-may-not-feel-wealthy/What are some indicators, aside from money, that someone is in the 9.9%?The cultural things are hard to identify or describe, but I think we know them. Education is clearly one big identifier. They tend to be education-focused. The highly educated, especially people with advanced degrees, have done particularly well.
The second is housing. One of the surest ways to accumulate the wealth that lands in the 9.9% is to have bought housing in the right places.
On balance, they tend to be more in the professional and managerial kinds of roles. It’s not that everyone in the 9.9% is that. There are lots of small business owners, but the core of the people have found a niche in a professional hierarchy.
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I assume most of us here are the semi-rich 9.9%
