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Top 1%?
Old 07-25-2018, 05:58 PM   #1
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Top 1%?

I didn't quite make it, but maybe you did?

https://cnbc.com/2018/07/19/what-you...aboolainternal

Here's how much you have to earn to be in the top 1 percent in America.
Does anyone here live in Jackson Wyoming?

Anyway... the amount is for Family Income, not individual.
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Old 07-25-2018, 06:05 PM   #2
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That's about income. It doesn't say anything about net worth.
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Old 07-25-2018, 06:18 PM   #3
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But, why look at just America? Let's be "world citizens" for a moment.

To be in the top 1% of the world, you need:
1) an income of $32,400
2) a net worth of $770,000

That's the top 1%. Nearly everyone living in the US is quite well off (materially) by world standards and certainly by historical standards.

Do we feel better now? Honestly, I don't. To think that the majority of the world still lives in abject poverty is not much to smile about. The median net worth for adults worldwide is $3,582. That's how much it takes to be doing better than most people. In Africa, it is $438.


The good news is that wealth and living standards in some of the world's poorest places are improving.

Note, these figures were from a few years ago.
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Old 07-25-2018, 06:22 PM   #4
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Last I looked you need 10 mil to make the bottom of the 1% ers
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Old 07-25-2018, 06:23 PM   #5
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Top 1% by income is $430,600 for a household. Top 1% by NW is $10,374,030. I make way more than the income number but fall way short on the NW number. I got me some savin' to do!
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Old 07-25-2018, 06:54 PM   #6
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I might make the income number this year, but that is one year out of my 55 years on the planet. I have about half the NW.
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Old 07-25-2018, 07:14 PM   #7
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Quote:
Originally Posted by imoldernu View Post
I didn't quite make it, but maybe you did?

https://cnbc.com/2018/07/19/what-you...aboolainternal

Here's how much you have to earn to be in the top 1 percent in America.
Does anyone here live in Jackson Wyoming?

Anyway... the amount is for Family Income, not individual.


I do think I made the higher end of the Top 1% on the “Happiness Scale” (the scale on average established by me over my lifetime so far). The income I/we made along the way had an influence. Using the annual numbers quoted: no. But,it is all fine by me. Thanks for sharing!
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Old 07-25-2018, 07:19 PM   #8
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As Jackie Vernon used to say in the 1960s and before, "We were so poor we were adopted by a Korean family".
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Old 07-25-2018, 07:57 PM   #9
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If I converted my part-time earnings to a FTE then I would have made it in my best years.
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Old 07-25-2018, 08:10 PM   #10
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Gotta move to Rio Grande City, TX and then 122K gets ya in the top 1% of income earners.
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Old 07-25-2018, 09:20 PM   #11
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I'm not in the top 1%, but gee, I have more than enough already. Well, the way I define "enough", I do. I guess the point of the article is for people to get all envious, but TBH it wouldn't really make any difference in my life.
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Old 07-25-2018, 09:31 PM   #12
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My goal is to be in the top 1% of leisure time.
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Old 07-25-2018, 10:59 PM   #13
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Quote:
Originally Posted by samclem View Post
But, why look at just America? Let's be "world citizens" for a moment.

To be in the top 1% of the world, you need:
1) an income of $32,400
2) a net worth of $770,000

That's the top 1%. Nearly everyone living in the US is quite well off (materially) by world standards and certainly by historical standards.

Do we feel better now? Honestly, I don't. To think that the majority of the world still lives in abject poverty is not much to smile about. The median net worth for adults worldwide is $3,582. That's how much it takes to be doing better than most people. In Africa, it is $438.


The good news is that wealth and living standards in some of the world's poorest places are improving.

Note, these figures were from a few years ago.
Well said!
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Old 07-25-2018, 11:31 PM   #14
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Originally Posted by W2R View Post
I'm not in the top 1%, but gee, I have more than enough already. Well, the way I define "enough", I do. I guess the point of the article is for people to get all envious, but TBH it wouldn't really make any difference in my life.

+1


I'm not in the 1%, and unless they obtained their wealth in an illegal manner I don't care about what the %1 earns or has.

If you play high school baseball or football, you have smaller odds of making it to the pros than to the 1% of earnings... yet you do not see anyone raising "skill envy" about that.
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Old 07-26-2018, 02:34 AM   #15
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Originally Posted by daylatedollarshort View Post
My goal is to be in the top 1% of leisure time.


Love this goal! Much more important than being in the top 1% of $$.
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Old 07-26-2018, 06:02 AM   #16
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I can say that I've always been in the top 100%.

I can't say that I've ever cared.
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Old 07-26-2018, 07:32 AM   #17
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I saw a "Top 1% of the US" and "Top 1% of the world" mentioned, with vastly different results. But how about "Top 1% of the advanced world" which would exclude the very poor, third-world areas such as much of Africa? I'm sure there would be a large grey area to exclude poorer countries which are not really considered Third World. But it might provide a better benchmark.
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Old 07-26-2018, 07:43 AM   #18
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I can say that I've always been in the top 100%.

I can't say that I've ever cared.
+1
As I have stated before, I supported a trader back in the 1980's who made 5m yearly back then. A lot of the folks in my former industry who were in the top 1%, one wouldn't want as a friend.
As long as I can enjoy retirement happy and healthy, that works.
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Gimme that sugar!
Old 07-26-2018, 08:04 AM   #19
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Gimme that sugar!

I click on these threads and polls dealing with comparisons, even though I know better.

They are fiscal empty calories, providing some momentary guilty pleasure but making not a whisker's difference to my own situation.

Whether I'm in the top X% or the bottom X% shouldn't matter. I'm not living anybody else's life, so what they do and what they have is their business, not mine.

But I can't help myself, any more than I can resist the brownies and cookies and doughnuts that my co-w*rkers occasionally bring into the sweatshop. I know I'll never lose these love handles eating that stuff, but it's soooo sweet!

Oh, well, I'll regret it later. Feed me now!
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Old 07-26-2018, 09:44 AM   #20
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Originally Posted by scrabbler1 View Post
I saw a "Top 1% of the US" and "Top 1% of the world" mentioned, with vastly different results. But how about "Top 1% of the advanced world" which would exclude the very poor, third-world areas such as much of Africa? I'm sure there would be a large grey area to exclude poorer countries which are not really considered Third World. But it might provide a better benchmark.

This might interest you - average household wealth from OECD countries: https://www.businessinsider.com/net-...18-7?r=UK&IR=T

"Average household wealth varies widely across OECD countries, ranging from a low of $4,429 in Turkey to a high of $176,076 in the United States. Across the entire OECD, the average household wealth was $90,570."
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