What Exactly Gets You Into The ‘One Percent’August 27, 2012 4:38 pm
We have had some rough answers to this in the past – we spotted this today:
“The price of being a One Percenter might seem like a simple number. For income, it’s around $380,000 a year. For wealth, it’s a total net worth of $8.4 million.
But those numbers are for the total U.S. population and don’t take into account people’s local economy. Making $380,000 might make you feel wealthy in South Dakota, but not in Manhattan.
For people in their 40s, it takes a total net worth of $5.8 million to get into the one percent. For people in their 50s, it takes nearly $10 million. For people in their 60s, it takes around $11.6 million.
In other words, it takes twice as much wealth to be in the one percent for someone who’s 65 compared to someone who’s 45.”
Statistics Source: CNBC