Just wondering what would be considered as an Average Family Wealth (Not Income) of Lower Middle Class, Upper Middle Class in India, US and Canada. Please express in Local currency. Information will be good to know & wonder how much one has to catch up.
Kanya don't get into this ...... the rat race is over and the rats have won 
Location: God's own country
Posted on: 09-11-06 16:40:51
INDIA : (rupees)
Lower- 10 lakhs
Middle- 60 lakhs
Upper-5-10 crore +
CANADA : (Canadian Dollars and in'000)
Lower- $50K
Middle- $100K-200K
Upper-1Million $ - 5 Million $ +
The rankings for canadians vary much. So another upper scale could be 5 times more than what i mentioned for the Middle class. Since it is a low population in Canada, the wealth scales vary very greatly.
I am not qualified to say about USA.
TK A
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I am a Gents and not a Ladies.
If you are not making 100,000 $ a year , then you will be out hunting in IKEA for free meals 
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You know you are a desi when ........ You spew forth the virtues of India, but don't want to live there...............You've never had a tanning salon membership
Location: God's own country
Posted on: 09-11-06 17:22:45
Loser,
You are totally wrong.
In 2002, I was making $10 an hour and paid for 40 days a week (Consultant and so no tax) and i could very easily make my ends meet and was leading a very comfortable life (with TTC buspass, cell phone, Shared accomodation but sep. bedroom, good food - (not IKEA, BTW),eating outside on many nights and weekends, Travel to Casino Ramad/ Niagra by bus) and was even saving $100 a month.
So your statement is wrong that we require 100K to live comfortablet. I am a Bachelor.
My understanding is :
bachelor : 25K (without car) 40K (with car)
Married (no children) : 32K (without car) 45K (with car)
Married (2 children): 45K (without car) 60K (with car)
Except both working IT families, no one can make 100K a year. The average is around 60-80K when both people are working (in Non IT) and most of them make their ends meet and have 1 car and 1 house. Your analysis is totally flawed.
TK A
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I am a Gents and not a Ladies.
I agree ... It has been cited on the forum that people can sustain themselves in 2K pm and if you have 30 - 40 k you can lead a comfortable (not lavish) life I assume.
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Fido.
Location: British Columbia
Posted on: 09-11-06 18:23:18
Quote:
Originally posted by tamilkuravan
INDIA : (rupees)
Lower- 10 lakhs
Middle- 60 lakhs
Upper-5-10 crore +
CANADA : (Canadian Dollars and in'000)
Lower- $50K
Middle- $100K-200K
Upper-1Million $ - 5 Million $ +
The rankings for canadians vary much. So another upper scale could be 5 times more than what i mentioned for the Middle class. Since it is a low population in Canada, the wealth scales vary very greatly.
I am not qualified to say about USA.
TK A
According to wikipedia, a middle class is defined from $25 k to 100K.
There are also lower - middle middle and upper middle.
I also dont think you can always support two children on only $45K, but that depends on your debts and expenses, not just your income.
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~ Morning rain
