When it comes to classes in Canada, many Canadians don’t realize that being middle-class is based on income.In Canada, a majority of Canadians make an average yearly income that’s considered to be middle-class income. That said, though, what exactly is middle-class income? Well, yearly annual incomes between $53,359 and $137,000 are considered to be middle class. In fact, many middle-class Canadians realize they’re middle-class. They don’t realize that they’re at the higher end of the class, even the upper middle class.Different Income Classes in CanadaIt’s often associated with things like:Purchasing a homeHaving a vehicleSaving for retirementThe fact is, though, you can be considered middle-class without having any of those things. Middle-class isn’t a lifestyle; it’s an income amount. Let’s take a look at what incomes are considered middle class and which are considered upper middle class, as well as the other income classes.ClassIncome AmountsLower Class$0 - $53,359Middle Class$53,...
