Doug and Amberly explore the intriguing reasons why many millionaires consider themselves middle class.  They discuss the technical definitions of financial classes vs. the challenging societal definitions of these same classes, how both of these relate to their own views, and the psychology of wealth & self-perception among financially successful individuals.
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Links

Doug’s Podcast Accelerator
Connect with Amberly:

AmberlyGrant.com
FinTalks
Instagram
Facebook
“Jump In Feet First” podcast


Amberly on CNBC Make It
Doug & Amberly discuss “failing” FI on MHFI episode 174
Erin Talks Money YouTube
Erin Talks Money, “Reality of the Middle Class Millionaire”
Yahoo Finance/Insider Monkey, “15 Reasons Why Millionaires Think They’re Middle Class”
“Millionaires Share Practical Financial Tips in New Research from Ameriprise Financial”
Doug & Carl discuss feeling wealthy & rich on MHFI episode 203
Thomas Stanley & William Danko, “Millionaire Next Door”

Kindle
Hardcover
Paperback
Audiobook


Investopedia Definitions:

“Middle Class: Definition and Characteristics”
“Working Class Explained: Definition, Compensation, Job Examples”
“Upper Class: Definition, Salary, Example, and Other Social Classes”


United States Census Bureau

“Wealth, Asset Ownership, & Debt of Households Detailed Tables: 2021”
“Income in the United States: 2022”


David Chilton, “The Wealthy Barber”

Paperback


EconoMe Conference
Morgan Housel
Ramit Sethi
Mark’s Money Mind Podcast
Mile High FI Facebook Group
Doug’s site
Carl’s blog: 1500 Days

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**Disclaimer: The podcast is for informational purposes. Maybe entertainment but we won’t even make such a claim. You shouldn’t take the info as financial, legal, or tax advice. We aren’t certified financial planners or advisors. We’re not qualified for much. So get advice from professionals.**
Brought To You By:
The Doug Show, aka Affiliate Marketing & Side Hustles
1500 Days, Carl’s Blog about Early Retirement
Email us here: doug@milehighfi.com or carl@milehighfi.com
0:00 Introduction
3:26 Millionaire net worth profiles
7:54 Interpreting survey results
13:41 Defining classes by income
24:07 Defining classes by net worth
30:27 The shrinking middle class
37:40 Why millionaires feel middle class
46:50 Millionaires’ mindset & class identity
55:53 Comparison is the thief of joy
1:01:22 Rich or wealthy
1:07:45 Amberly’s podcast, “Jump In Feet First”
1:16:06 Soundcheck – Catching up