$2,385,036???? cut off for the 1%

[DAB]

Do you have $2,385,036? No? Then you?re not in the wealthiest 1% - Vox

Ever wondered how much money (and stock, assets, etc.) you needed to make the cutoff for the wealthiest 1 percent? Or even for the wealthiest 20 percent?

A report from the Pew Research Center, working off of data from the Census Bureau, lays it out. In 2011, America's wealthiest 1 percent had at least $2,385,306 to their names. That's $63,236 more than you needed to hit the top percentile in 2009.

By contrast, you qualified as above average if you had more than $71,298 — about 1/30th of what the top 1 percent hold.

wealth levels

Pew Research Center

Note that this is all 2011 data: the cutoffs are likely a bit higher now.

Income inequality, by the way, is a very different story. In 2011, you needed to bring home $388,905 in adjusted gross income to qualify for the top 1 percent and $34,823 to make the top 50 percent. But as this video explains, wealth inequality is a lot more important than income inequality, even though it gets less attention.

all you ballers, better step it up a notch if you want to keep your place in line.

[VITE1]

[theanswriz42]

I'm poor

[DAB]

Originally Posted by theanswriz42

I'm poor

most people are.

[VITE1]

Originally Posted by theanswriz42

I'm poor

Let me tell you a quick story.

In the early 1930's there was this immigrant Russian Jewish Tailor living in NY. He had come over after WWI and had a wife and two kids. He owned a small tailor shop and worked 6 days a week 12-15 hours a day.

One of his big time Wall street customers went dead broke. The Tailor bought all THREE of his seats on the AMEX for 25,000.00 CASH. Well below the going price yet he was the only one who had the cash.

When his two son graduated college ( Wharton) the Tailor gave them each one seat. They became millionaires over time ( one lived across the street form me when I was young. The Third seat went to the first born Grandson. He's now a millionaire.

If you want to get rich you need to do the following:

Save more than you feel you can.
Live less than you think you should
And keep your eyes and ears open for opportunity to use the money you have saved to buy from those who make BIG mistakes.


There are millions of stories similar to this. The foundation to them all is the same.

You cannot make money if you don't have money and you can't have money is you spend it.

[DAB]

a penny saved is a penny earned.....

long, long ago, we were sitting around at lunch, and there were ongoing layoffs. some were worried that they were next. they asked me if i was worried. no, not really. why not? i have some money saved. well, that won't last long. eh, it will last long enough. how long do you figure? about 6 years at the current rate i spend money. i hadn't yet turned 30.

less you spend, the more you have for another day.

[VITE1]

Originally Posted by DAB

a penny saved is a penny earned.....

long, long ago, we were sitting around at lunch, and there were ongoing layoffs. some were worried that they were next. they asked me if i was worried. no, not really. why not? i have some money saved. well, that won't last long. eh, it will last long enough. how long do you figure? about 6 years at the current rate i spend money. i hadn't yet turned 30.

less you spend, the more you have for another day.

I was raised by Pessimistic optimists. Plan for the worst, Hope for the best!

[Bill]

I'm just saving up so that I can hire Van Halen to play for my birthday bash.

[sanchez]

Originally Posted by bill_daniels

I'm just saving up so that I can hire Van Halen to play for my birthday bash.

Real Van Halen or that weak assed Van Hagar shit?