City-Data Forum How many make over \$1 Million a year in the US?
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07-05-2019, 08:00 AM
 528 posts, read 616,303 times Reputation: 779

Quote:
 Originally Posted by gamboolman This is a pretty good site to get all kinds of statistics. The link below will get you there and then you can look for specific criteria / data sets. https://dqydj.com/income-percentile-calculator/ Excerpt(s) from one of the articles 1) "Am I in the top one percent of income? To reach the 1% you’d need an individual income of \$300,577. The top .5% of workers made at least an income of \$435,550. What is considered a good income? Around \$43,500 is a good income in most of the United States. That is the median earnings for an individual working 40 hours per week. Another good income goal is \$100,000 per year or “six-figures”. Around 13% of people made \$100,000 or more in 2018." 2) How many millionaires are there in the United States? We estimate that there are 14,814,453 millionaires in the United States. A million dollar net worth for a household is the 88.24% wealth bracket in the US in 2016: 11.76% of all households. Note: for this stat and the subsequent ones, we are only discussing household data. Remember, net worth isn’t generally divisible between household members (short of court-assisted situations). Additionally, all data includes the value of any primary home.
The latest figures has the top 1 percent income at \$421k a year.

The data below is the percent of people who make the money from a salary. Thus, only 5.2% of people who make over 2 million dollars a year earn all of it from a salary. That is how rare it is to earn that kind of salary.

The high end for salaries shows to be in that \$300k range - doctors, top lawyers, top 4 company accountants, and the like.

Top 0.1% of Earners \$2,757,000 5.2%
Top 1% of Earners \$718,766 13.4%
Top 5% of Earners \$299,810 28.0%
Top 10% of Earners \$118,400 39.1%

https://www.cnbc.com/2018/07/27/how-...-us-state.html

07-05-2019, 08:05 AM
 Location: NE Mississippi 13,635 posts, read 8,554,879 times Reputation: 19843
No one knows.
Smart people hold equities such as real estate and stocks for a very long time. The silent appreciation of the assets is not measured, and sometimes is not predictable.

So if I hold \$5M in real estate and stocks, who can know "how much I make"?

FWIW: My holding are not worth anywhere near \$5M, but the IRS wouldn't care anyway. All they know is that I receive rental income and Social Security and a very small pension. When I sell something I will take a long term capital gain and report it.

07-05-2019, 08:39 AM
 Location: NC 6,543 posts, read 7,956,796 times Reputation: 13440
20 or so years ago I read that one in 400 people in the US was a millionaire. Not sure if that’s the same thing

07-05-2019, 08:54 AM
 466 posts, read 81,965 times Reputation: 516
Quote:
 Originally Posted by aslowdodge Ok I gotta ask. Why would they cross into Tennessee and pAy more?
Cost of a marriage license would deter people from marriage, that's for sure. No wonders so many just lived together and had at it.

07-05-2019, 02:22 PM
 Location: Silicon Valley 3,604 posts, read 1,622,110 times Reputation: 6112
Quote:
 Originally Posted by Katana49 LOL Sure, that's the "official" line. In the real world, these are some of the best investments going.
And even more of the worst. A lot of these pre-IPO companies are never going to make it.

We like to think of VC backers as some sort of smart players in the field that help get individuals the necessary items they need to build a business. That's somewhat true, but more helpful if you think of them as getting money from the mob without the violence and with very little patience, and they're going to put a lot of tremendous demands on an organization to grow in the way they want regardless.

Sometimes that's to build a company....sometimes that's to become a piece in their own wheel with a team of engineers assembled and working for soon to be worthless options. CBRE did a study about a year ago on the last 1,000 positive exits (acquisition by bigger player or IPO) and found that by the time it was all said and done....the average founder had a low single digit piece of the action.

These engineers....I would have thought they would be better at math.

Today, 07:46 PM
 Location: New Jersey 15,102 posts, read 13,781,987 times Reputation: 6464
Quote:
 Originally Posted by deb100 Also, numerous sources say that about 18% of the U. S. labor force was engaged in agriculture in 1940, and only about 40% in 1900. https://www.agclassroom.org/gan/timeline/1940.htm 1940 Total population: 131,820,000; farm population: 30,840,000; farmers 18% of labor force; Number of farms: 6,102,000; average acres: 175; irrigated acres: 17,942,968
You're right. The gradual shift away from agriculture started well before 1940. Just under 50% of the labor force was in agriculture in 1870. By 1940, it was below 20%.

Today, 09:18 PM
 2,139 posts, read 524,377 times Reputation: 3726
Quote:
 Originally Posted by Listener2307 Smart people hold equities such as real estate...