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How to enter the richest 1% club

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To be among the top 1 percent of earners in America, you have to pull in $389,436 a year, a 2013 Economic Policy Institute report finds.

In affluent metropolitan areas, the threshold is much higher. Take Jackson, Wyoming, where you have to make a minimum of $1.65 million a year to be in the one percent. In San Francisco, it's $785,946. In New York City, it's $672,795.

But how much does it take to be a member of the global 1 percent? According to the 2016 Global Wealth Report from Credit Suisse Research Institute, you need $744,400 in household assets. Note that this report looks at wealth, rather than income.https://www.cnbc.com/2017/10/27/how-much-money-you-need-to-have-to-be-part-of-the-1-percent-worldwide.html
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craig.tucker
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Should we measure our success in life through financial wealth? Though it is great to be financially wealthy but let's not forget the most important things in life that can't be bought by money like relationships, health and spiritual connection.
7 mths
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What can you say about this? Any tips?
7 mths
thanyy-akksydd-alzyn-akhhh
thanyy-akksydd-alzyn-akhhh followed this discussion
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Hard work does not make you rich. Most rich are born rich.
7 mths
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Hard work does not make you rich. Most rich are born rich.
What's the problem with that? If someone has inherited a billions it would imply some sort of disaster, incident or serious personal problems to dissipate all that. I don't see as a whole society would benefit from such occurrences.
7 mths
10210377378005890uzwana.pierseali.a1982
10210377378005890, uzwana.pierse, ali.a1982 and 7 other people started following this discussion
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Is the goal in life to be in the top 1%? The middle class in America is doing just fine. The goal in life revolves around making the future for your children better than your own. If the top 1% can do that for their children then great.
7 mths
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Is the goal in life to be in the top 1%? The middle class in America is doing just fine. The goal in life revolves around making the future for your children better than your own. If the top 1% can do that for their children then great.
Man you need to go back to high school economics. Or hell, reality?
7 mths
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Man you need to go back to high school economics. Or hell, reality?
Anyone that adds “man” to their comment has their own issues. Please get back to me when you and your pretty girl have a family. Then you may understand what I am saying .... man
7 mths
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“Admiringly Optimistic”. That’s a cute way to put it.
7 mths
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Big deal. No one under 6’ tall plays in the NBA. That is something they were born with. However just because you are over 6’ tall doesn’t mean you CAN play in the NBA. Hard work IS necessary. Not a guarantee though. Also, just because you don’t play in the NBA doesn't mean you can’t play basketball. This argument that the only way to be rich is to be born into is just an excuse to not even try.
7 mths
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Big deal. No one under 6’ tall plays in the NBA. That is something they were born with. However just because you are over 6’ tall doesn’t mean you CAN play in the NBA. Hard work IS necessary. Not a guarantee though. Also, just because you don’t play in the NBA doesn't mean you can’t play basketball. This argument that the only way to be rich is to be born into is just an excuse to not even try.
I'm sorry, you're saying that if my parents give me $100 million then I still won't be a millionaire unless I also work hard?
7 mths
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Big deal. No one under 6’ tall plays in the NBA. That is something they were born with. However just because you are over 6’ tall doesn’t mean you CAN play in the NBA. Hard work IS necessary. Not a guarantee though. Also, just because you don’t play in the NBA doesn't mean you can’t play basketball. This argument that the only way to be rich is to be born into is just an excuse to not even try.
Your logic is a little flawed.. it doesn’t say it’s not possible.. it just says the odds are higher for people who have necessary resources.
7 mths
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I'm sorry, you're saying that if my parents give me $100 million then I still won't be a millionaire unless I also work hard?
A millionaire and the top 1% are very different things. I know what you are saying though. I am saying that birthright is not the end all be all for the top 1%. I think you could attribute there success more to their work ethic, daily habits and intelligence.
7 mths