SPIN: Is $1M net worth/liquid a part of the 1%?

[Shadow King]

Since I'm not a 6 cert 6 continents nikka can ya'll prove me wrong or right...but in a country where many people don't have $1000 saved, most people don't make 80k a year and 231k is the lowest state as far as 1% by state, how is being worth $1 million NOT in the 1%?

Edit: NVM bout the thread title

 

[TRFG]

Hell no

 

[Ms. Elaine]

You only need to make around $350K/yr to be a part of the 1%.

 

[Shadow King]

Hell no

Hell no to the original thread title which I fukked up?

 

[capt_saveahoe]

It takes about $8 million in assets to be in the top 1 percent in America.

 

[Ms. Elaine]

It takes about $8 million in assets to be in the top 1 percent in America.

Stop talking out of your ass.

 

[brother walt]

shyt to anybody who is poor like me hell yea

 

[BaldingSoHard]

Probably not a 1%'er but definitely in the top 5%.
If you're talking about globally, however, then absolutely.

 

[capt_saveahoe]

Stop talking out of your ass.

I said assets not annual income. it only takes about $350k to be in the top 1 percent in income but people that have accrued $8 million in net worth are the true 1 percent.

 

[L&HH]

Stop talking out of your ass.

The Times had estimated the threshold for being in the top 1 percent in household income at about $380,000, 7.5 times median household income, using census data from 2008 through 2010. But for net worth, the 1 percent threshold for net worth in the Fed data was nearly $8.4 million, or 69 times the median household’s net holdings of $121,000.

From nytimes

 

[filial_piety]

No. Every other city worker in NYC would be in that 1% then.

 

[Ms. Elaine]

From nytimes

The primary threshold is still 380K/yr and that's not even per person, it's per household. Doesn't take much to be elite in this country.

 

[Remote]

The primary threshold is still 380K/yr and that's not even per person, it's per household. Doesn't take much to be elite in this country.

I understand what you're saying. But to say 380k isn't much...you're a misstating things a bit.

Median household income is something like 50k.
380K is A LOT.

 

[ORDER_66]

that a fukking drop in the bucket to them man...

 

[R.E.N. Spells Ren]

$1M net worth and $1M liquid are two very different things tho