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Income Limits for Each Fifth and Top 5 Percent of # Families (All Races): 1947 to 2007 # # (Families as of March of the following year. Income in current # and 2007 CPI-U-RS adjusted dollars 28/) # # Source: U.S. Census Bureau, Current Population Survey, Annual Social and Economic Supplements.
The Average Indexed Monthly Earnings (AIME) is used in the United States' Social Security system to calculate the Primary Insurance Amount which decides the value of benefits paid under Title II of the Social Security Act under the 1978 New Start Method. Specifically, Average Indexed Monthly Earnings is an average of monthly income received by ...
Average wage in the United States was $69,392 in 2020. [1] Median income per person in the U.S. was $42,800 in 2019. [2] The average is higher than the median because there are a small number of individuals with very high earnings, and a large number of individuals with relatively low earnings. (See Income inequality in the United States.)
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.
Americans 65 years and older reported a median annual income of $61,830 in 2023, according to the United States Census Bureau. So what else can you do to make sure you have enough money in retirement?
It was generally a given that the average 35-year-old in 1959 owned a better house and car than the average 65-year-old, who typically had nothing but a small Social Security pension for an income. Many blue-collar workers continued to live in poverty, with 30% of those employed in industry in 1958 receiving under $3,000 a year.
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According to Pew Research, the median income for middle-class households reached $106,100 in 2022. That's a 60% jump from the $66,400 median income in 1970. While that sounds impressive, it's ...