To have a top one percent net worth is an impressive achievement. However, what is a top one percent net worth amount exactly? Further, it’s probably more appropriate to shoot for a top one percent net worth by age. After all, it’s not fair to compare your net worth at 25 to someone’s net worth at 50.
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 one percent income levels are.
- It’s not how much you make, but how much you keep.
The top on percent income levels for all the age groups looks a little light compared to the overall median top percent figure of $380,000 as reported by the IRS back in 2013.
However, the income levels are all the MINIMUM amounts you need to make in order to be classified in the top one percent. In other words, making $210,000 as a 32 year old puts you in the top one percent for your age group. So does making $350,000.
Thanks to economic growth and inflation, a top one percent income level for 2020 is now about $470,000. The income level was only about $400,000 just in 2012. Don’t be on the wrong side of inflation.
The top one percent income of $470,000 can be individual income or household income. The income is reported income to the IRS, so there is a combination of both.