120K a year puts you in about the top 10-15% of American households, IIRC. Many people who travel primarily in upper-middle class circles fail to realize this.

It's not the 1%, but it's wealthier than most.

You can buy a modest, decent 3/2 house (older housing stock) in a safe neighborhood for 100K in my city. (You couldn't have in 2008--but you can now.)