Beyond individual perceptions, the very notion of wealth is subjective. There is no academic consensus on what would be a "wealth line", for example. Is being rich having enough money to be able to stop working? Is it living in a certain neighborhood in the city? Is it having an imported car?
"Perception studies show that people tend to classify themselves in the middle, as middle class. Few people classify themselves as poor or rich'...But why?"
Asli Cansunar, an expert on the subject, a professor in the Department of Political Science at the University of Washington, USA, emphasizes that these results have been observed since at least the 1970s.
Cansunar also emphasizes that the notion of wealth is relative - and can vary even within the same country. In the UK, she exemplifies, earning more than the £80,000 a year...that puts someone in the top 1% of the pyramid doesn't necessarily mean a comfortable life in London for those who have to pay rent.
Please link here for the full article (may show in Portuguese and you need to translate).