The Top 1% - What it Takes | Income & Net Worth

What does it take to be in the top 1% in America?

To be in the to 1% you have to have be a (really) high income earner as well as have a (really) high net worth.

These one-percenters live like no one else. These one percenters have a pretty significant portion of the US wealth as well as a hefty chunk of the US income.

Now what it takes to be in the one percent of any given state is different from state to state...and the threshold number to hit it can vary greatly. And keep in mind, that even if someone is in the top one percent of their state as a wealth earner or as far as net worth goes, it doesn't mean they are in the top over all one percent of the nation.

So what do you think it takes to be in the top one percent? I supposed you are going to have to tune in to find out!

Disclaimer: Please note that this video is made for entertainment purposes only and not to be taken as financial advice. Always make sure to do your own research.

While you are here, why not check out some of my other videos:

#networth #personalfinance #financialindependence

[BenDonahower]

It's also interesting to look at this with an age breakdown. The top 1% of 25 year olds is different than the top 1% of 45 year olds.

[RAColorado]

Keep up the good work!

My experience has been that those that yell and scream the loudest about "the rich!"..."gosh dern 1%!"..."dang wealthy people!"...etc generally are not even coming close to working their way up the economic ladder. I tend to listen to those that are keeping their head down and grinding ahead.

[bill]

Still the land of opportunity, no matter what anyone says! I don’t necessarily think about fitting in a certain bracket but rather how much I need to accumulate in assets in order to generate the cash flow that I need for my ideal lifestyle. I am grateful for just having a shot! Long live the USA!

[MrWaterbugdesign]

Can't say I'll ever understand why income is a factor. I'm old and remember when wealth was measured in net worth, not income.

[Bill]

At 0:22 and 0:33, $758, 434 (2019 dollars) is actually not the "entry point of" annual income, rather it is the "AVERAGE annual wage" of the top 1%. Big difference😀

[iTzDritte]

As the rich get richer, it still never feels like enough. This exchange on The Simpsons encapsulates that perfectly:

Homer Simpson: “You know, Mr. Burns, you're the richest guy I know. Way richer than Lenny.”
Mr. Burns: “Oh, yes. But I'd trade it all for a little more.”

[patrickgehlbach]

I bet it'd be interesting to look at the income and net worth requirements to be in the top 1% globally versus the top 1% in the US.

[ZacharyBuhler]

I love the statistics about them being self made. It shuts down a lot of people that try and say you can only get rich if you inherit it all

[DaveM-FFB]

When I realized the lifestyle that 5 percenters (net worth) are able to experience is basically the same lifestyle that 1 percenters live, I became content and stopped chasing. If you're able to achieve the "net worth" of a 5 percenter, and if at least 2/3 of your NW is in income producing assets, then your passive income should be more than adequate.

[lordabhikingfisher]

On an avg S&P 500 returned 30% in last 12 months. i.e. if one had 1M in fortune 500 stocks a year ago, today it would be valued at $1.3M. Now you know why rich get richer! And stock market is your friend.

[dhui]

The most important thing is to enjoy life with whom you love. Even just a meal in your favorite McDonald with your loved ones suffice. This is much more meaningful. You came into this world naked and will leave the same way.

[brianscudder]

At 5:57, the time period referenced is 40 years, not the 30 years mentioned (if I heard you correctly). Keep up the great work.

[LostInThezone]

Another fascinating presentation.
I always thought that targeting the top 1% for income tax increases would not solve a revenue shortage. And now I know. The bottom 99% make 80% of taxable income.

[davidwelty]

Wealth and income are not the same. Wealth should only be measured by net worth.

[jeff]

It's a given that wealth or income growth in the top percentile (whether it's 1%, 20% or whatever) will always be the highest because it is the only one with no upper limit.

[xaldath]

Most people can save+invest their way into the top 1%, given time and consistency. Most people cannot save+invest beyond that. In order to get into the top 0.1%, you need more than determination; you also need luck, and a support system around you.
That sounds like a negative comment, but really hitting the top 1% *should* be WAAAAY more than enough to live beyond comfortably and I'm not saying not to aim big...but if your *goal* is to be in the top 0.1%, I legitimately question your motives and would hope you do too, often.

[tfttft]

Thanks ETM, Great content. I appreciate how you look at this topic from a few different angles. Loved all the graphics.

I had heard the top gives a lot to charities but did not realize it was that large.

[KrustyKlown]

Yup, the 1% need to pay much more for the benefits they receive .. higher taxes, new taxes, and a fair share payment of some type.

[bobfeller]

They earned it. Those individuals typically looked at their current situation and demonstrated logic, insight, reasoning, and intuition. Examples are Henry Ford, the Wright brothers, JC Penny, Bill Gates, Steve Jobs, Jeff Bezos, and Elon Musk. Where would we be without their contributions?

[garyreimer]

So are you talking about cash only as net worth or cash plus real-estate