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As you can see, you need an income well over three times the national average to crack the top 10%. It takes another $140,000 on top of that to make the top 5%. And the 1% is making beaucoup bucks.
Here’s the income you need to be in the top 1%, 5%, and 10% in the US — and 3 essential tips to help you climb higher on the wealth ladder in 2025 Moneywise December 30, 2024 at 12:00 PM
The top 5% of households, three quarters of whom had two income earners, had incomes of $166,200 (about 10 times the 2009 US minimum wage, for one income earner, and about 5 times the 2009 US minimum wage for two income earners) or higher, [15] with the top 10% having incomes well in excess of $100,000.
According to Bloomberg, an annual income of $175,000 a year places you in the top 10% of tax filers, signifying you’re statistically wealthy. Don't miss.
This is particularly used to measure that fraction of income accruing to top earners – top 10%, 1%, 0.1%, 0.01%, and also "top 100" earners or the like; in the US top 400 earners is 0.0002% of earners (2 in 1,000,000) – to study concentration of income – wealth condensation, or rather income condensation. For example, in the chart at ...
The Census Bureau releases estimates of household money income as medians, percent distributions by income categories, and on a per capita basis. Estimates are available by demographic characteristics of householders and by the composition of households. More details on income concepts and sources are found on the Census Bureau's website. [10]
The table below provides data on wealth from the Federal Reserve, including FRED data from the St. Louis Fed, indicating there were 131.5 million American households as of June 2024.
In other words, if the nominal starting income was 100 and there was 10% inflation (general rise in prices, for example, what cost 10 now costs 11), then with nominal income of still 100, one can buy roughly 9% less; so if nominal income was not adjusted for inflation (did not rise by 10%), real income has dropped by approximately 9%. [1]