Exactly. I would base the differenciation more on education, general culture, interests, and lifestyle.
My parents are difficult to define: They were both brought up in the USSR (my dad an engineer, my mom a computer programmer) and moved to Europe in 92. My dad, through evolutions and lots of hardship (even I remember weeks we had to eat beans and bread, literally, because that's all there was) has managed to climb up the ladder into middle class. My mom, with 3 kids, stayed at home with us.
My dad was college educated, my mom I suppose had what you'd call an associate's degree these days. In terms of education, culture, and interests, i'd say my mom is upper-middle class, and my dad middle class.
Myself I have a masters degree from a good university, have no debts (thanks to my own hard work, and my parents' generosity) and I consider myself upper-middle class with aristocratic tendencies even though i don't really fit into the salary bracket. My lifestyle is financed mainly through gambling and living in countries where 1 Euro/USD goes much further than it does in the home country.
After all, wasn't it Oscar Wilde who said "A gentleman who lives within his means suffers from lack of imagination"?
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