How much annual income do you need to be part of the 1%?

[hoffdano]

Instead of trying different ways to count money I think people should simply be clear who they are talking about. The wealthiest 1% is not the same as the top 1% of income earners (all sources).

I know people who occasionally have hit the 1% income mark. Sales people who have a great year, or people that exercise stock options can do this. But they aren't rich.

I know a man who is unquestionably very wealthy. His wealth is somewhere between $500M and $1B. He is a humble and generous man but there is no question he lives very differently. Homes in multiple countries, owns two Gulfstream jets, etc.

[Regajohn]

1% was just a buzz word for "rich people" that the Occupy Wall Street group and the news media was ranting about.
1% sounds a lot better than 0.1% or 0.01% ... and these are the people that are truly wealthy, weather by net worth or income or both.

To be in the top 0.1% of income (A.G.I.) earners, one had to have income above ... between $1,7000,000 and $2,250,000 between 2001 and 2011. You can see that this varies quite a bit based on year and the economy. These people can consist of two parent professionals, small business owners or retired people with significant assets. But not all of them are truly wealthy in the net worth sense.
(FYI - The high was in 2007, the low was in 2001).

In 2007 you needed $9.5+ million dollars of AGI per year to be in the 0.01% catagory. You can be an actor or a professional athlete and hit those numbers, but that doesn't equate to having a high net worth either.

What's considered wealthy and or rich, or mega rich, with regards to net worth, is a whole seperate debate. Once you get over about $100 million you can usually live a pretty nice lifestyle. But of course many of those people are workaholics ... they may enjoy their money, but it's not like they're sitting on a beach 24 /7 - 365.

Who Is Rich? | Wall Street Oasis