The journey to millionaire status does not always guarantee a sense of financial security. Jason Wong, Tim Morris, and Harrison Tang, all successful millionaires, shared their perspectives on why they still identify with the middle class. Morris, who grew up in a family that valued hard work and financial prudence, feels deeply connected to his middle-class roots.
He believes he needs to continue working for at least another decade before considering a comfortable retirement. “I think this stems from a sense of financial insecurity that’s ingrained in me,” Morris explained. Wong sees the term “middle class” as more than just income or net worth.
“It’s about a mindset and a way of life,” he said. He enjoys the challenges and rewards that come with his role as a general manager and plans to continue working for another decade or more because he loves what he does. Both Morris and Wong maintain relatively modest lifestyles, prioritizing savings and investments over extravagant spending.
Feeling middle class despite wealth
“I value hard work, education, and community. I still feel a part of the middle-class community because I share these common values and experiences,” Morris said.
Wong also highlighted the importance of financial goals and responsibilities, such as planning for retirement, ensuring his family’s financial security, and giving back to the community. These priorities keep him grounded and focused on maintaining a middle-class perspective. Tang, a self-made millionaire, considers himself middle class due to the abrupt changes in the economy.
“There has been a significant increase in the cost of living, and I believe today every self-made millionaire belongs to the upper middle class,” he said. His monthly expenses have increased by 40% compared to a few years ago, emphasizing the need for ongoing financial planning and adaptation. Despite their financial success, these millionaires remain connected to their middle-class roots and values.
They prioritize hard work, modest lifestyles, and long-term financial stability, recognizing that wealth does not necessarily equate to a sense of financial security in an ever-changing economic landscape.
