Despite extraordinarily high salaries and degree requirements, engineers serve essentially the same function as other blue or white collar workers in the American capitalist society. We engineers have joined the working class.

In a closed system of stratification is little or no opportunity to advance from one social class to another. Social status is hereditary, based on a group characteristic. Social mobility–the movement from one socioeconomic status to another (individual, collective)

Class Systems In this system of stratification, a person is born into a social ranking but can move up or down from it much more easily than in caste systems or slave societies. This movement in either direction is primarily the result of a person’s own effort, knowledge, and skills or lack of them.

Sociologists generally posit three classes: upper, working (or lower), and middle. The upper class in modern capitalist societies is often distinguished by the possession of largely inherited wealth.

The class teacher is the one teacher among the group of teachers involved with a class who has the main responsibility when it comes to monitoring and supporting the subject-specific and social development of the students. Commonly, it is the Danish teacher who also assumes the role of class teacher for a class.

Individuals in the lower-middle class tend to hold low status professional or white collar jobs, such as school teacher, nurse, or paralegal. The lower-middle class is among the largest social classes, rivaled only by the working class, and it is thought to be growing.

Those in high social classes are likely to have greater educational attainment than those in low social classes. Because members of high social classes tend to be better educated and have higher incomes, they are more able to provide educational advantages to their children as well.

According to respondents of a 2019 Modern Wealth Survey from Charles Schwab, once you have $2.3 million in personal net worth, you can call yourself wealthy. On the other hand, people responding to a 2019 survey from the market research website YouGov said you need to earn just $100,000 a year to be rich.

Nationwide, it takes an annual income of $538,926 to be among the top 1%. Among the approximately 1.4 million taxpayers who meet this threshold, the average annual income is about $1.7 million – about 20 times the average income of $82,535 among all taxpayers.

If you have $500,000 in savings, according to the 4% rule, you will have access to roughly $20,000 for 30 years. Retiring abroad in a country in South America may be more affordable in the long term than retiring in Europe.