After publishing, The Top 1% Income Levels By Age Groups, there were two main responses from the community:
- You are surprised how low the top 1% income levels are.
- It’s not how much you make, but how much you keep.
I’m somewhat in agreement that the top 1% income levels for all the age groups looks a little light compared to the overall median top 1% figure of $380,000 as reported by the IRS several years ago. But the income levels are all the MINIMUM amounts you need to make in order to be classified in the top 1%. In other words, making $210,000 as a 32 year old puts you in the top 1% for your age group, but so does making $350,000.
Several folks also quibbled whether the income numbers were gross income numbers, adjusted gross income numbers, or reported income numbers. Well of course the income numbers are reported income numbers because reported income is taxable income and all the IRS can go by. I’m sure there is a huge amount of unreported income that is hard to quantify. In other words, the minimum income figures to get to the top 1% for each age group are also less than what people really make!