Tuesday, December 31, 2013

Fact of the Day - the 1%

According to the Tax Policy Center, if your annual household income is $107,628, you are in the top 20% of income earners. If your income exceeds $148,687, you are in the top 10%. You are in the top 5% if it is $208,810. And if your household income is $521,411, congratulations. You are in the top 1%.

According to the Federal Reserve Survey of Consumer Finances, a net worth of $415,700 puts you in the top 20% of American households. You are in the top 10% if your net worth is $952,200. If your nest egg totals $1,863,800, you are in the top 5%. And  if you have a household net worth of $6,816,200, you are again in the top 1%.

http://www.investmentu.com/2013/December/mailbag-how-to-know-if-youre-rich.html

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