How Much Income Is Considered Rich? (With Data)
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Күн бұрын🐪 Hump Days Newsletter ➭ humpdays.substack.com
How Much Income Puts You in the Top 10%, 5%, and 1%? We answer that in today's video!
Links:
ofdollarsanddata.com/what-is-...
smartasset.com/data-studies/t...
dqydj.com/income-by-education/
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Timestamps:
0:00 - Start Here
0:34 - Top 10%
2:41 - Top 5%
3:53 - Top 1%
4:46 - Impact of Education
6:16 - Where You Live Matters
7:52 - Top and Bottom States
9:03 - Global Wealth Perspective
10:12 - How You Get There
12:13 - Hormozi’s Rule of 100
~~
Rickie (Editor) ➭ / coldgamerick
/ humphreytalks
/ humphreytalks
/ humphreytalks
PS: I am not a current Financial Advisor, any investment commentary are my opinions only. Some of the links in this description are affiliate links that I do receive a commission for & they help support the channel!
Disclaimer: Investing capital can involve risk and may lose money if you choose to do so.
@humphrey 11 ай бұрын
I hope this video was informative, let me know your thoughts - leave a comment below, I try to write back to everyone who comments in the first 30 minutes - 1 hour of the video release! So turn on your noti bell ;)
@GK-gc9cv 11 ай бұрын
Another big factor is write offs. Many people who make high 6 or 7+ figures own businesses and have write offs and in reality make far more than their taxes show. Maybe on paper only 1% make more than $500k but in reality a lot more are pulling in over that but for one reason or another it isn't in their AGI
@AFGixxeR88 11 ай бұрын
Apparently the six figures is very common these days. Lots of kids make that a month
@michaelhernandez2868 11 ай бұрын
Hi, Humphrey. I retired in November of 2021 at age 60 in midwest, northern Illinois. I didn't break the $100k point 'til 2017. The most I ever made from earned income was $128k. But the final 11 months that I worked I made $108k of earned income from my job at a major utility & $400k gross from real estate investments. I accumulated $1.8 million in assets in 401(k), Roth i.r.a.s, rental properties & a very small farm. I sold 1 property that made it possible for me to retire that same year. Another large electric utility kinda told me to sell to them or they could take it from me by emminent domain. I bought it in 1996 & had paid it off long ago. So, I said, "Ok...". I only have a high school diploma & knew I would never afford college. So, I went to work for a natural gas utility & stayed with them for 37 years. I just knew that I had to make it past $1million in investments & not rely on a huge income because I didn't attend college. I managed to pass that mark by a bit more.
@nicolasbenson009 10 ай бұрын
I started buying some more stocks at the beginning of the year, but nothing big. Why am I treating this so harshly? I still want to be the first person in my polygamous family to make a million dollars despite the fact that others in my field make six figures per person. I am well aware of the costs associated with working more to get more money.
@TheJahnStead 11 ай бұрын
Being in Texas with a 140k salary I personally feel to be touching the rich feeling. It is almost guaranteed for us to save at least $2k a month at a minimum even though we do not hold back too hard on what we do during the month. I do believe that you don't always need to obtain a high level degree. I only have a bachelors and work as a Controls Engineer. To me the key if you do not get a graduate degree is to keep expanding your skills. I primarily work with PLCs but still have learned how to use Python, C#, and various scripting languages because companies value having someone that can build tools that improve the efficiency of our every day tasks. I run a small eBay business selling battery packs. I do all of my own investing. Never stop learning.
@vincea1830 11 ай бұрын
That's kinda wild, I save roughly 2k a month making 35% of that income. You must have some crazy truck debt or something 😅
@grannytorrelli2560 11 ай бұрын
@@vincea1830lol, no need to lie for internet clout man. You take home less than 4k a month, but save 2k? Seems legit.
@BaphomentIsAwsome666 11 ай бұрын
Plato once said " The most important thing in life is not to have the most but need the least." If I can make 70k with my current work load which is 18-23 hours a week then I'm golden.
@penitent2401 11 ай бұрын
Making 70k working only that many hours per week means you have to earn $70 per hour.
@TheTurdballs420 11 ай бұрын
I just need about tree fiddy to be rich!
@humphrey 11 ай бұрын
haha
@bigt69 11 ай бұрын
"I ain't givin' you no tree-fitty, you goddamn Loch Ness Monster! Get your own goddamn money!"
@lionhearted99 11 ай бұрын
Another important aspect is unrealized gains in investment portfolios. These won’t show up in income figures, but are a huge factor in building wealth. Surprised at how high some of these annual figures are relative to net worth benchmarks.
@randxalthor 11 ай бұрын
Wanna be in the 1%, you're usually gonna have to be a little bit of a salesperson in some way. Running a business, working on commission, representing a person or entity negotiating contracts. Whatever it is, the most valuable skill comes down to convincing a few wealthy people to give you a lot of money or many people to give you a little money.
@mocheen4837 11 ай бұрын
Sales people make a lot of money going into the millions.
@JasonTaylor-po5xc 11 ай бұрын
It is hard to break into the top 5% or better without owning your own successful business. There are a handful of exceptions like specialized jobs (underwater welder). Also, if you had a good income and saved/invested very well, by the time you're in your 50s you could be top 5% or better.
@Rachelschneider03 11 ай бұрын
I'm not kidding when I say that the market crash and high inflation have me really stressed out and worried about retirement. I've been in the red for a while now and although people say these crisis has it perks, I'm losing my mind but I get it Investing is a long-term game, so focus on the long run.
@ReidCoffman1 11 ай бұрын
I can’t focus on the long run when I should be retiring in 3years, you see I’ve got good companies in my portfolio and a good amount invested, but my profit has been stalling, does it mean this recession/unstable market doesn’t provide any calculated risk opportunities to make profit?
@AshtonGrace 11 ай бұрын
I agree, my profit has been consistent no matter the market situation, I got into the market early 2019 and the constant downtrends and losses discouraged me so I sold off, got back in Dec 2020 this time with guidance from an investment adviser that was recommended by a popular economist on a subreddit, long story short, its been 2years now and I’ve gained over $850k following guidance from my CFA.
@MariusNatt 11 ай бұрын
@@AshtonGrace Impressive can u share more info??
@AshtonGrace 11 ай бұрын
Having a coach is key in a volatile mar-ket, My advisor is "Maria Teresa Tyler" You can easily look her up, she has years of financial-market experience. @@MariusNatt
@Rapha187 11 ай бұрын
Blah blah fuck these scamming bots
@philippelarocque4207 11 ай бұрын
Acknowledgement and gratefulness for what we have, well said!
@edwardgh57 11 ай бұрын
I lived my working life by the Navajo saying “ a man can not get rich without taking proper care of his family”. Then when work ended and money was no longer a focus, my richness increased, because of the law of attraction. Amazing what a feeling can do.
@humphrey 11 ай бұрын
wow nice
@edwardgh57 11 ай бұрын
life’s lessons learned, priceless.
@cbrottler 11 ай бұрын
I find the household vs individual definitions across these reporting agencies confusing for folks. They aren’t necessarily the same. A household can include two earners, no? It might be good to make that distinction clear.
@johnma807 11 ай бұрын
Based on these numbers, it sounds like he is talking about personal wage and not household income.
@RellikReyalp 11 ай бұрын
@@johnma807yeah but the median income he was talking about is household and not personal wage. So thats often considered a 2 person household. Median personal wage is around 40000 dollars.
@JasonTaylor-po5xc 11 ай бұрын
For me, big city trappings can get old quick and it can be super expensive. Instead, if possible, live in a lower cost of living area and visit the larger cities when you want those attractions. Additionally, those features will feel more special since you can't access them everyday and you'll be less tempted to spend away what little disposable income you might have by living in a high rent area.
@me0101001000 11 ай бұрын
I'm on the PhD track. I have a master's in engineering, seeking a PhD in chemistry, aiming for a tenured position in academia, which is usually pretty secure as well as lucrative in my target field. But it really isn't so much about the money for me, as it is that my actual job is going to be trying to answer my most pressing questions and maybe discover something new. Oh, and the fact that I never have to retire.
@humphrey 11 ай бұрын
thats awesome, idk if id want to fully retire, it seems a little slow. I want my brain to always be working on something, i think that can help prolong life. who knows
@peterq9359 11 ай бұрын
Coming from a PhD, academia is never going to be "lucrative". It is isolated and safer for sure
@DM-ql6ps 11 ай бұрын
I'm not sure I'd consider academia lucrative. Salaries for academia are lower than for corporate world. Yes, it's secure and very fulfilling and you'll earn enough for a comfortable life (I'm in academia myself). Do it if it's your passion, not to get super rich.
@me0101001000 11 ай бұрын
@@peterq9359 it does depend on the field. Math doesn't pay so well. But engineering definitely does, especially chemical and electrical.
@me0101001000 11 ай бұрын
@@DM-ql6ps oh of course. That's why I said it isn't so much about the money. The area I'm interested in pays above average, but not ridiculous, but that doesn't matter to me as long as I can provide for myself and family, while doing meaningful work which I like to do.
@jk23365 11 ай бұрын
Great videos man, I look forward to these every week! You have really inspired me to think more about my finances and how to optimize my savings
@humphrey 11 ай бұрын
dude i love hearing that! thank you so much for watching.
@JonLikes2Jam 11 ай бұрын
right there with ya on this
@adoneves22 11 ай бұрын
Hey Humphrey, I found you on TikTok back in 2020 or 2021 and I've been a fan since. Keep up the good work! Love from Portugal 🇵🇹
@humphrey 11 ай бұрын
So cool! thank you for watching since 2020/2021!
@soonerj97 11 ай бұрын
Me living like I'm poor in OKC 😬 we all gotta start somewhere.. Thank you for taking the time and effort to make these videos!
@walkerjester2048 11 ай бұрын
Great video! Would have loved if net worths were included it 😃
@Matthew-oq9rw 11 ай бұрын
Loved the video Humphrey! you've come so far, and the content you are putting out is very informative. I personally think that richness in terms of $ is subjective and then it becomes even more subjective when we are not talking about "rich "but "wealthy" (which takes into account much more than just $ in your account, such as health, family, relationships, wisdom etc.). But i personally think that today, in this society, to feel rich, you need to make over 500.000$ a year. which correlates to being in the top 1% ish given the statistics. for me personally, it's much more than that haha
@kyuj2884 11 ай бұрын
Keep it up man. I love your content.
@humphrey 11 ай бұрын
thank you !
@xiphoid2011 11 ай бұрын
at the other guy said during the interview is false. Sure, you can skip that and take risk to start your own business, hoping to strike it rich. But thrn you are taking on the 90% chance that your business will fail in the first year. Or, like Asian Americans, being highly educated and be 95% assured of a high income, then use that high income to buy equity/ownership in a successful business and have their employees make money for you. Anyone who says a high paying job cant make you rich obviously doesn't understand risk management in investing.
@girlyteengirl101 11 ай бұрын
i love the purple light coming from the other room!
@markciocco2509 11 ай бұрын
It is VERY important to identify whether any of these income values are individual or HHI.
@JonasIversen-ob7yr 5 күн бұрын
9:40 Wealth and income are two very different things mate
@1DiscipleDragon 11 ай бұрын
I feel glad to live in one of the nice countries. Knowing that even though I'm not the richest, I already have a pretty decent life in the world and I shouldn't be complaining.
@verychinnyapga1599 11 ай бұрын
You are not only smart. You are a good-looking man. Thank you for this information.
@queenofpents3442 11 ай бұрын
Hey Humphrey, can you discuss inflation and interest rates and when you see things going down? I'm still confused by all the terminology.
@JairoCarbajal999 11 ай бұрын
Hey Humphrey I dropped a like on the vid and i saw a ufo not too long after 💪🏽😂 thanks man!
@ramlozano 11 ай бұрын
Thanks for the informative content. Just want to clarify if these figures are gross or net?
@HudsonK23334 11 ай бұрын
Oklahoma City here. 26, 0 debt. $70k salary isn’t even enough to buy ANY starter home or condo in a suburb or metro area. No idea how average income earners are surviving on the coasts.
@Briluvr 11 ай бұрын
I don’t live there but I checked Zillow and there’s quite a few houses below $150k. I’m sure with your salary you could afford more
@TechTime111 11 ай бұрын
Hey Great Video! I think you should make another video when new data is released. 2019 data cannot be applied to 2023. Especially after the fed money printing. I think top households make wayyy more today than what the 2019 data shows.
@RS-jd2py 11 ай бұрын
Didn't you say household income and not individual income? Two very different things...
@vibe_tube3634 11 ай бұрын
Top 1% on 30 to 35 age but why I still can’t afford steak for every meal?
@boredoreos 11 ай бұрын
Is this per person or per household? Is it only counting salary or alternate sources of income like rental properties and investment income?
@humphrey 11 ай бұрын
Household, apologies. And it does include other managed assets, so it should include rentals + investment income, however, as I am realizing now the video makes it seem like its all based on w2 income, which it may or may not be. The data isnt parsed out by family.
@penitent2401 11 ай бұрын
If you want to know what the top 20% income is, it is just the average. Meaning the top 20% earns 50% of all income. The median income, meaning half of earners earns above and half below, is just half of the average. Half the population earns less than half of the average income.
@jerry19484 11 ай бұрын
26, 210k liquid TC, 350k total TC after IPO. Gotta love tech
@scottjackson163 11 ай бұрын
The numbers for top 10% seem about right to me. I’m 65 - and not planning to retire anytime soon - yet my income continues to rise, at the rate of 5% per year.
@lonai319 11 ай бұрын
Really informative video, wonder what's it like being the Top 10% - 1% by age group in the top 10 U.S states by population
@Brigh578 8 ай бұрын
😊Managing money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains. The examples you provided are relevant, and I personally benefited from the market crisis, as I embrace challenging times while others tend to avoid them. Well, at least my advisor does too, jokingly
@user-im7qe6ve4t 8 ай бұрын
This is superb! Information, as a noob it gets quite difficult to handle all of this and staying informed is a major cause, how do you go about this, are you a pro investor?
@Brigh578 8 ай бұрын
Through closely monitoring the performance of my portfolio, I have witnessed a remarkable growth of $508k in just the past two quarters. This experience has shed light on why experienced traders are able to generate substantial returns even in lesser-known markets. It is safe to say that this bold decision has been one of the most impactful choi
@user-im7qe6ve4t 8 ай бұрын
I've actually been thinking of reaching a portfolio-adviser, my 401k and stocks been losing everything it's gained since 2019, mind if I looked-up this one coach you use?
@Brigh578 8 ай бұрын
The adviser I'm in touch with is *CAROLINA MELINA PHERSON* she works with Merrill, Pierce, Smith incorporated and interviewed on CNBC Television. You can use something else, for me she strategy works hence my result. She provides entry and exit point for the securities I focus on.
@user-im7qe6ve4t 8 ай бұрын
Thanks, I just googled more about her, I'm really impressed with her credentials. I reached out to her since I need all the assistance I can get.
@willmallory9085 11 ай бұрын
Excellent video Brother
@humphrey 11 ай бұрын
Thanks for watching
@philipknapke7529 11 ай бұрын
What is the individual income rather that household income?
@EdA-bz3bu 11 ай бұрын
We live in the land of plenty and for most it’s NEVER enough.
@josephbrown9685 11 ай бұрын
When one lives solely for the accumulation of material items, he or she will never be satisfied.
@CaptainNinjaKid 11 ай бұрын
I'm making 94k at 22 but I'm living in LA. To feel rich I would want to practically double my income but I know I'm likely to just save all the money and never spend
@philipc2208 Ай бұрын
Being rich for me is freedom. My time is priceless.
@lizardmilk 11 ай бұрын
No surprise the lowest income threshold to be in the top 1% is in southern states. The bar is very low there.
@MelfiortheOne 11 ай бұрын
Hope I get into 80% bracket
@jona2726 11 ай бұрын
We should get a top 10% excluding the top 1%. This top percentile warps the whole chart it's so elevated.
@vxnova1 11 ай бұрын
Hey got an idea for a new video, just researching cd’s on fidelity and there looks to be quite a few options, broker or bank , new issue or secondary, as well as cd funds, can you discuss each type and maybe go through making a purchase of the recommended type on fidelity, Appreciate your videos, Thanks for helping us financially challenged people.
@bywolves 11 ай бұрын
I love your videos. I’ll say I’m getting confused between “individual income” versus “household income” and comparing the two. Maybe you are always referencing individual income in your videos tho.
@humphrey 11 ай бұрын
this video was household!
@jaydenrussell7491 11 ай бұрын
thank god for KZfaq it such a beautiful platform sometimes I think how unlucky I could of been if I were born say 30 years ago
@humphrey 11 ай бұрын
lfg
@RS-cl5wg 11 ай бұрын
What would be your recommendation for long term most aggressive highest potential growth portfolio?
@GreenBlueWalkthrough 11 ай бұрын
12:43 I've found that to be true for gaining expernce and mastery as while I don't follow that methiod exactly I do enough stuff regulay to have gotten really good at them... So to add you don't have to do just one thing but instead do something at that pace.
@tejindersingh4154 11 ай бұрын
Can you give the top 10, 5 and 1 percent numbers disregarding age
@maxchang5581 11 ай бұрын
Hey random question but are you Hmong?!
@pnvst6648 11 ай бұрын
The minimum to feel rich in small town Midwest is in the 90-100k range I believe.
@dingusfinance8931 11 ай бұрын
I heavily recommend the Oklahoma City metro.
@dimitrikatsaros9212 11 ай бұрын
The question I have is the statistics on educational impact on income. The question is of causality: does higher education lead to higher income or are those who can afford to go to college -- as a group -- more likely to earn more anyway due to other factors?
@eikoGoldstein 11 ай бұрын
The chart shows the correlation between educational levels and income. Correlation is not causation. Your question is a good one, but we will have to look elsewhere for your answer. I suspect character, virtuous habits and intellect are determinative. Luck is always useful, if you are prepared to recognize and capitalize on it. Best wishes!
@stinkykyle96 11 ай бұрын
I'm 27 making ~150k TC in rural NJ. I feel really well off and don't worry about money at all, but I don't feel rich because I have friends at FAANG companies making 200-400k 😬 Yes I'm in software engineering and so are my friends. We have bachelor degrees. Thinking about getting my masters, but not sure what area. Definitely something data or AI related
@weswest8666 11 ай бұрын
Who cares what everyone else is doing, do what you want to do, if formal higher education interests you then snag a masters, often it’s not needed in tech to get ahead tho…
@stinkykyle96 11 ай бұрын
@@weswest8666 oh yeah I’m really happy at my current job, only saying I don’t feel “rich” despite making a very reasonable salary. I’m more concerned with happiness and quality of life 🙂
@henryscott4811 11 ай бұрын
how about the effect on income for top 1% or .01% broken down by education. As someone who is 25 already doing well and not content I spend time thinking about what differentiates or what I must do to go even further (divorce time working being a ratio of money earned and scaling income based on value of work/something entreprenurial)
@humphrey 11 ай бұрын
hmmm, Id have to look into that. You have a very good problem to have.
@Surfer-727 11 ай бұрын
Another great video ! 4 million would make me feel rich ! 💲💲💲💲
@jamesstewart5005 11 ай бұрын
Top ten percent of my age bracket and I'm a high school dropout. Not bad considering I was in poverty from birth up until about four years ago! I have a lot of catching up to do with retirement and a safety net though.
@humphrey 11 ай бұрын
dude, amazing!!
@jamesstewart5005 11 ай бұрын
@@humphrey When you have children it really changes your priorities.
@baum9048 11 ай бұрын
@@jamesstewart5005what is your job?
@jamesstewart5005 11 ай бұрын
@@baum9048 I work in IT. I never went to school for it but had been doing repairs since I was 13. After some persistence handing out my résumé someone finally gave me a chance. It's been all uphill from there. Except for Covid lockdown of course.
@Johanneslol11 11 ай бұрын
It's intresting to see that america also cares so much about degree. I live in the Netherlands and I earn 60.000 euro per year with just my bachelor.
@keska01 11 ай бұрын
60k in the NL goes much farther than in the U.S.!
@isaacl6402 11 ай бұрын
We always see people on social media flexing how they got rich quick. But for each one of those there are probably hundreds doing it the old fashion way through dedication and high education. If you really want it, either way you are going to have to work for it.
@penitent2401 11 ай бұрын
For every one on social media who struck rich quick there are hundreds who fail to. It's like playing lotto and only seeing winners celebrating on TV, they don't show all the losers.
@sharingonegduf 11 ай бұрын
🎯 Key Takeaways for quick navigation: 00:28 🏦 Be honest and transparent about your financial situation to build trust and a strong foundation. 02:20 🤝 Establish shared financial goals to align your efforts and contributions. 03:57 💼 Consider a hybrid approach to managing finances - maintain individual accounts while contributing to shared goals. 08:13 🤖 Use regular reviews (monthly, quarterly, annually) to track progress, adjust goals, and maintain financial alignment. 14:41👫 Understand that marriages require effort, and children introduce added complexity to financial management. Made with HARPA AI
@humphrey 11 ай бұрын
close
@piewars12345 11 ай бұрын
@@humphrey😂
@danwirth3511 11 ай бұрын
😂😂
@aznmarinex2 11 ай бұрын
Would you equate total compensation with income or do you just count salary?
@humphrey 11 ай бұрын
total i believe, the survey includes all financial sources
@basilman121 11 ай бұрын
Oh... okay well in that case, I'm in top 10%
@prancingzebra9106 11 ай бұрын
It is crazy to see the jump in income. I’m in the 1% now for 30-34 and I think I can maintain that but once 45-49 hits. That’s a lot of money to earn!
@fadeyewa9678 11 ай бұрын
Wow that's great! What do you do?
@prancingzebra9106 11 ай бұрын
@@fadeyewa9678 I run collision repair centers
@rosepink296 11 ай бұрын
Happy to see the income that comes with having an advanced degree, gives me some more motivation to continue schooling if need be!
@ryanc4955 11 ай бұрын
Be careful on the degree though. Make sure it has a high return on investment! And go to an affordable school if you do it
@rosepink296 11 ай бұрын
@@ryanc4955 my income after my 3 AA's got me a salary of 80k and due to the nature of my job there's a lot of downtime in which I can do homework. I'm able to get my BS debt free while still having money come in. It's awesome and I love financial videos like these and I'm glad I found them early! My income should double once I finish my BS too!
@lucaspm98 11 ай бұрын
I bet this is more of a correlation than a causation. Meaning ambitious people who are likely to succeed will apply that ambition to their education, but their education did not cause their success.
@polivios13 11 ай бұрын
This is net or gross income?
@sdoolin87 11 ай бұрын
Is this strictly for individuals, or for household incomes?
@Nursemidratz 11 ай бұрын
had the same question. he kept switching between them and never specify. Most likely is household
@williamqi 11 ай бұрын
How do you factor in total income like bonus and equity? Are these figures just salary? Is this household or individual?
@lycanwarrior2137 11 ай бұрын
Household
@aldurrant7354 11 ай бұрын
My goal is more of a moving target. I want to make the threshold to be considered an accredited investor every year. For a single person i believe its 250k but im getting married soon so itd be 350k. I do not care to make much more than that (on paper) but retain assets within my business/holdings company. I'm going to school for CE but am currently a marketing manager. I don't make a whole lot but in the industry I'm in with the connections i have i believe i could open my own office/franchise within a couple years. And if that doesn't work ill have a CE degree to fall back on, my fiance is in school too be a nurse. That should help too i suppose.
@Legacy-Talks 11 ай бұрын
Household stats make this really confusing because one household may be one person and another household five people. Video would have been better if it was based on per capita
@annawong1305 11 ай бұрын
Another video telling me I'm poor 😅 I'm in the UK but these videos are still interesting! If i had a million dollars, i think then I'd feel rich.😅 as for income, $100k salary sounds decent where i live in northern England. I'd have to be Head of Finance to get that kind of income as an employee.
@humphrey 11 ай бұрын
ill try to be more inclusive of the UK in the future!
@annawong1305 11 ай бұрын
@@humphrey no worries, you're doing great and I love all your videos.
@baum9048 11 ай бұрын
Me who is going to earn 30k € yearly if i stick with my aprenticeship: 🥲
@cathysheahan7036 11 ай бұрын
Nice T-shirt
@Ferhernando 11 ай бұрын
Wait if the cost of living is 14% lower then doesn't that mean that it is worth $114k?
@michelle56704 11 ай бұрын
Also, it’s more important that how much you can save. ❤
@kevin10087 11 ай бұрын
I need to be making 100,000 to feel rich and I am in sf. That should be enough for all my needs plus renting a decent apartment and saving enough to get out fast.
@germancamacho3944 25 күн бұрын
What about people that has stopped working but have a wealth of $2,500,000 in What category will they be?
@zacknelson8918 11 ай бұрын
I am 30 never went to college. Graduated high school with a 2.4, I work full time my own business and I earn on average 6 figures easily,
@Runeblade484 11 ай бұрын
Why are we using household income instead of individual income? People shouldn't be comparing themselves to possible dual income homes.
@DV-lh2ov 11 ай бұрын
Freely switching between household incomes and individual incomes without mention...confusing..
@shannoncargo468 11 ай бұрын
Education is not everything for being top income I can promise ya I’m one of the top of my class and never wasted money on college
@aghazafarali5464 11 ай бұрын
9:40 The distribution of global wealth is the net worth, I believe, not the income? Otherwise, it takes $43k to be among the top 1% that doesn't align with this distribution.
@humphrey 11 ай бұрын
mostly frmo this article: foreignpolicy.com/2012/02/27/were-all-the-1-percent/
@zacknelson8918 11 ай бұрын
I rather live in a small town in a red state, far from the crime and problems of a blue state and big city. And do my work I love and my own boss and make my money go farther than in a city
@Biasgoose8 11 ай бұрын
This video is a bit confusing when you talk about individuals but links to household income
@mikeatback 2 ай бұрын
Okay it looks like i need to figure out how to go to the top five percent of my age bracket. I think i will grow two money trees instead of one.
@euro_babe 11 ай бұрын
i live in new orleans. i could feel rich with 100k a year
@mariormarin7514 11 ай бұрын
Took me 30 years to get to top 10% at 50 in California. Should’ve listened to mom. Go to school!
@penguingobrrbrr353 11 ай бұрын
In easterm europe making 43k dollars a year is def top 1%
@davidnewton9857 11 ай бұрын
This is household income .. Not individual income. That's why the numbers are high.
@bigslacker666 11 ай бұрын
College dropout here and in that 5%. LOTS of non-school study, OTJ experience and then into Big Tech as an IC then management. Glad to see that mentioned but also on the where you live side of things getting a full remote position gives you a lot of flexibility. Whether you like city living like Humphrey, ski resorts and beaches like me or LCOL and saving, you have the option if you choose your company and role carefully.
@JasonTaylor-po5xc 11 ай бұрын
I always thought it was funny that the default progression was IC to management. Not everyone is good at that and the qualities that make someone really good at an IC tech position work against them in management. Basically, you're starting over mid-working career.
@bigslacker666 11 ай бұрын
@@JasonTaylor-po5xc Agree, and I've seen it go well and poorly. The ones that went poorly were because company structure was such that really good IC's topped out and felt they HAD to make that change even if they weren't a good fit for it. I made the choice deliberately as I started to enjoy the nuts and bolts less and the strategy, mentoring and people side of things more as a lead/principal engineer. Seeing people you've coached grow into highly competent and confident engineers capable of delivering on really cool projects is super rewarding. So is taking an idea and GENTLY guiding everyone involved and having it grow fruit is as well. But the politics, negotiations, hard conversations and decision making is not and should not be for everyone!
@michaelswami 11 ай бұрын
You’ve clearly never experienced the rich culture of Oklahoma City. They even have electricity and indoor plumbing. Perhaps you should visit before opining.
@Scrappygymrat 11 ай бұрын
What happens when you take out professional sports players? I’m sure their 100m contracts are skewing these numbers massively
@Jungernaut 11 ай бұрын
Sheesh 🔥🔥
@felipealviso8564 11 ай бұрын
It feels like you keep comparing 2 different things. Household income vs individual income.
@andrewthomas4976 11 ай бұрын
Looks like I'm in the top 5% for my age bracket. Good to know
@SE_the_ViewLOG 7 ай бұрын
Your health is your wealth! Without your health, you have no peace of mind, as a society, we should emphasize happiness/health/finding purpose vs the dollar sign
@RealGrandFail 11 ай бұрын
Healthcare is free in some of these countries with less, I will leave it at that.
@KINGTUTT_ 11 ай бұрын
basically if you make 2 mil a year you’re in the 1%
@309gti8 11 ай бұрын
I have an associates degree and I’m on track to make at least $125k this year at age 28. I’m curious to see how associates degrees and trade schools rank in the mix. It’s been a goal of mine for many years to make over 100k/yr, and this will be my first year over 100k!
Jason Derulo
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Toby Newbatt
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