Almost a third of millionaires in the US now say they’re part of the middle class, per CNBC.

Approximately 60% of investors with investable assets exceeding $1 million classify themselves as upper middle class, according to a recent survey by Ameriprise Financial. Additionally, nearly one-third (31%) of this group identifies as decidedly middle class.

The definition of wealth varies among investors, with many associating it with the ability to live life on their terms, according to Marcy Keckler, Senior Vice President of Financial Advice Strategy at Ameriprise. Rising costs, ranging from child care to grocery bills, have prompted concerns among higher-income individuals. This financial strain has led to reduced savings, with household credit card debt surpassing $1 trillion and a decline in the savings rate, as reported by recent Federal Reserve data. The median household income for homebuyers has increased from $88,000 to $107,000 this year, reaching six figures for the second time in the National Association of Realtors’ records.

[The wildest statistic to me was “25% of America’s “regular rich,” defined as those earning at least $175,000 annually…” That’s “REGULAR RICH”? In some places that’s barely scraping by. ~ Beege]