Poll

Where does your household fall in terms of national household income percentile?

Top 1%
Top 5%
Top 10%
Top 25%
Top 50%
Bottom 50%

Author Topic: POLL: Household Income Percentile  (Read 17551 times)

EnjoyIt

  • Handlebar Stache
  • *****
  • Posts: 1386
Re: POLL: Household Income Percentile
« Reply #50 on: November 23, 2016, 10:51:08 PM »
Top 1% when I was working. Now Top 21% of you count my yearly withdrawl as my current income!

Wow, can I please ask? You made $400k/yr+ and currently living on $24,500/yr yearly withdrawal.
How the hell do you do that?  Don't get me wrong, I understand how someone can live on $24,500/yr.  What I don't understand is how someone who made $400k/yr was able to settle on a $24,500/yr lifestyle.  Please feel free to respond in a private message if you don't want to talk about all this in public. I would love to get some insight that may help my own situation.

Top 21% would be $108,000 according to the graph, not $24,500. $24,500 is bottom 21% (or the top 79%).

Making $400k+ and retiring on $100K/yr makes a ton more sense now. 

sol

  • Walrus Stache
  • *******
  • Posts: 8433
  • Age: 47
  • Location: Pacific Northwest
Re: POLL: Household Income Percentile
« Reply #51 on: November 23, 2016, 10:59:31 PM »
Our category based on AGI is three poll options away from our category based on actual income counting gross wages, real estate appreciation, and investment growth.

EnjoyIt

  • Handlebar Stache
  • *****
  • Posts: 1386
Re: POLL: Household Income Percentile
« Reply #52 on: November 23, 2016, 11:33:31 PM »
Seems like there are a lot of people in the top 5% of better (I'd be FI a lot sooner if that was me!). interesting

It's interesting how so many of us build lifestyles that are more expensive as compared to others.  I am no exception to that.  Right now if we downgrade our house and opt for less fancy vacations, we can retire today. We have thought about and discussed this numerous times and both come to the conclusion that we both like our jobs and still want to continue working.  Although we work less than our colleagues. We can do that since we live much more frugally compared to them and our income.  We also learned that we both enjoy the luxuries that those jobs allow us to purchase.  Also we noted that working less allows us to enjoy our work even more.  Lastly, we both understand the cost of healthcare in this country.  And I mean good healthcare and not just what medicare/medicaid provides.  This is especially true when we are older requiring rehab, assisted living or some expensive equipment that you can either rent or be forced to go to some facility for care.  So why not work just a few more years if it gives us peace of mind and makes us happy. 

Lastly, although this forum is geared towards early retirement, not everyone wants to retire the second they hit their bear minimum 25 times expenses. We are looking at 33x expenses which includes plenty of extra cash for fun experiences.  The reason for 33x is to allow our investments to grow over the years.

okits

  • CMTO 2023 Attendees
  • Senior Mustachian
  • *
  • Posts: 13072
  • Location: Canada
Re: Household Income Percentile
« Reply #53 on: November 23, 2016, 11:36:56 PM »
I see a lot more views than votes.

The poll is anonymous, I'm genuinely curious as to how we compare to the general population as a whole.

I'm Canadian, so not sure we'd be a relevant data point.

See link:

http://www.macleans.ca/economy/money-economy/are-you-in-the-middle-class/

Is everyone just including base income? Are OT and bonuses included too? What about side gig income? My total income (base+OT+bonuses+side gig) is more than 50% more than my base income alone.

Thank you!  I voted based on the quintiles outlined in that article.

Conclusion: please direct me to the forum area where the other poors congregate.  ;)

SeaEhm

  • Bristles
  • ***
  • Posts: 446
  • The Guilt is Real
Re: POLL: Household Income Percentile
« Reply #54 on: November 24, 2016, 08:11:16 AM »
Seems like there are a lot of people in the top 5% of better (I'd be FI a lot sooner if that was me!). interesting

It's interesting how so many of us build lifestyles that are more expensive as compared to others.  I am no exception to that. 

We have thought about and discussed this numerous times and both come to the conclusion that we both like our jobs and still want to continue working. 

We also learned that we both enjoy the luxuries that those jobs allow us to purchase.

Thanks for posting for me!
Come join us on the beach on Monday mornings for our TGIM mimosas. Wear your PJs and make sure you sleep in long enough to avoid rush hour traffic ;-). No money needed. Poor is good M'Kay.

I do not drink alcohol, but you happen to live in an area that serves amazing coffee.  Would you mind picking one up for me on the way to the beach?

Malum Prohibitum

  • Pencil Stache
  • ****
  • Posts: 846
Re: POLL: Household Income Percentile
« Reply #55 on: November 24, 2016, 09:58:02 AM »
The CNN link is for 2014.

Using AGI for 2014, my household is top 45%, so I clicked top 50% on the poll.


Malum Prohibitum

  • Pencil Stache
  • ****
  • Posts: 846
Re: Household Income Percentile
« Reply #56 on: November 24, 2016, 09:59:32 AM »
I see a lot more views than votes.

The poll is anonymous, I'm genuinely curious as to how we compare to the general population as a whole.

I'm Canadian, so not sure we'd be a relevant data point.
The numbers are US, AGI for 2014, so I am not sure how that translates to Canada.

You can see where you stack up against US households, but I am not sure if you have an AGI in Canada or if it is calculated the same way.
See link:

http://www.macleans.ca/economy/money-economy/are-you-in-the-middle-class/

Is everyone just including base income? Are OT and bonuses included too? What about side gig income? My total income (base+OT+bonuses+side gig) is more than 50% more than my base income alone.

Cassie

  • Walrus Stache
  • *******
  • Posts: 7946
Re: POLL: Household Income Percentile
« Reply #57 on: November 24, 2016, 01:31:53 PM »
We were frugal most of our lives by necessity.  Now it is our time to enjoy. We used to do a ton of free activities when we were raising our kids, etc. While we still enjoy free stuff we also want to do spendier stuff now too that we enjoy.  We still look for bargains. We love to cruise and found a way to sign up for last minute cruises and they mark them way down to fill the empty rooms.  HOwever, since my DH is going back to work for a 2 year project we will be limited to one vacation/year probably. However, I will do some traveling without him like going to see my kids.  To me Mr MM is just the way my friends and I lived for most of our lives because no one liked debt, etc.  Now my friends are all traveling, etc too while they can.  Somewhere along the line people started to overspend their income and think that they should have every expensive thing in the world. I think advertising makes people believe that everyone lives this way.  I think that many on this board will be ahead of my generation for retiring, etc which is great.  When we were young we saved and waited until we had the $ to buy things. So if we wanted to remodel some of the house, etc we would save for 1 project and do it and then save for another. We drove old cars, etc.

Thedividebyzero

  • 5 O'Clock Shadow
  • *
  • Posts: 20
  • Age: 51
    • The divide by zero
Re: POLL: Household Income Percentile
« Reply #58 on: November 24, 2016, 07:04:47 PM »
Preaching to the choir I know, but saving rate is the only metric that matters. 

I would guess that most people on this board are in a very high or moving towards a very high percentile compared to most in the western world.

Classical_Liberal

  • Handlebar Stache
  • *****
  • Posts: 1171
  • Age: 47
Re: POLL: Household Income Percentile
« Reply #59 on: November 26, 2016, 03:20:03 PM »
Wouldn't it make sense to run the numbers based on income per capita?  Otherwise it heavily favors people who are married or I guess technically co-habitation.  Comparing budgets and income for a single person vs a household is apples-oranges.

Agreed HH income or net worth calulators are difficult to reconcile for us single folks.  If the "median" HH has 2.5 people how is that distributed?  A DINK household, one single, and one with 2 working adults and two kids... obviously VERY different cost structures going on there. Then there the HCOL vs LCOL as well. 

I like http://www.epi.org/resources/budget/ to get an idea where different family sizes actually should sit spending/income-wise based on geography.  It includes taxes, so it should equate to gross income with minimal savings.   This is a reasonably accurate estimate for my COL (single no kids), based on anecdotal experience in five different locales I have lived in the past few years. The categories are off quite a bit (it seems to price housing low-end, other things higher), but the total is rather accurate.  They call it "adequate standard of living", I'd call it "spend whatever I want".  I could and have gotten much lower with some effort & would guess many mustachians run lower than this.  For parents, it also includes some pretty high levels of child care, assuming very young kid(s), I think (although I have no direct experience in the realm). 


Iplawyer

  • Bristles
  • ***
  • Posts: 308
Re: POLL: Household Income Percentile
« Reply #60 on: November 26, 2016, 03:28:44 PM »
Top 2% based on income but if you include investment income top 1%.   

lordmetroid

  • Stubble
  • **
  • Posts: 112
Re: POLL: Household Income Percentile
« Reply #61 on: November 26, 2016, 03:34:21 PM »
67% of Sweden earn less than me. I am satisfied with what I earn but it can always be better. However it doesn't really matter all that much, in Sweden earning more doesn't make much of a dent in the take home money. It all goes to taxes.

That being said, I am very educated and experienced in Computer Science. So If I was living anywhere else I would be earning twice what I earn in Sweden.
« Last Edit: November 26, 2016, 03:38:18 PM by lordmetroid »

BlueHouse

  • Magnum Stache
  • ******
  • Posts: 4142
  • Location: WDC
Re: Household Income Percentile
« Reply #62 on: November 26, 2016, 06:40:19 PM »
I see a lot more views than votes.

The poll is anonymous, I'm genuinely curious as to how we compare to the general population as a whole.

I'm Canadian, so not sure we'd be a relevant data point.

See link:

http://www.macleans.ca/economy/money-economy/are-you-in-the-middle-class/

Is everyone just including base income? Are OT and bonuses included too? What about side gig income? My total income (base+OT+bonuses+side gig) is more than 50% more than my base income alone.

Thank you!  I voted based on the quintiles outlined in that article.

Conclusion: please direct me to the forum area where the other poors congregate.  ;)
.  Come join us on the beach on Monday mornings for our TGIM mimosas. Wear your PJs and make sure you sleep in long enough to avoid rush hour traffic ;-). No money needed. Poor is good M'Kay.
oh Spartana, that sounds lovely.  Save a spot for me and I'm hoping to make it there by 2023. 

Eedad

  • 5 O'Clock Shadow
  • *
  • Posts: 13
Re: POLL: Household Income Percentile
« Reply #63 on: November 26, 2016, 06:47:18 PM »
Top 14%, I'm full time wife is part time three days a week.  Could be higher, but my current employer allows for a good work/life balance and if the wife went back full time obviously.  We're mid thirties and watch our friends kill themselves working constantly.

MsPeacock

  • Handlebar Stache
  • *****
  • Posts: 1571
  • Location: High COL
Re: POLL: Household Income Percentile
« Reply #64 on: November 26, 2016, 06:48:22 PM »
Top 12% - single parent head of household - so I am the only income earner.

If I was still married (and thank goodness I'm not) then it would be top 1%.

LeRainDrop

  • Handlebar Stache
  • *****
  • Posts: 1834
Re: POLL: Household Income Percentile
« Reply #65 on: November 26, 2016, 07:16:01 PM »
One-third of MMM-ers make $210k per year (top 5%) or more?!?!?  Holy cow!

BuffaloStache

  • Handlebar Stache
  • *****
  • Posts: 1298
  • Location: The boring middle accumulation phase
Re: POLL: Household Income Percentile
« Reply #66 on: November 26, 2016, 08:01:49 PM »
^ This was exactly my reaction. Good on ya guys!

shelivesthedream

  • Walrus Stache
  • *******
  • Posts: 6757
  • Location: London, UK
Re: POLL: Household Income Percentile
« Reply #67 on: November 27, 2016, 03:05:07 AM »
I did this income percentile calculator for the UK: https://www.theguardian.com/society/datablog/interactive/2012/jun/22/how-wealthy-you-compared

Apparently I am living on the edge of poverty. WTF?

2Birds1Stone

  • Walrus Stache
  • *******
  • Posts: 7963
  • Age: 1
  • Location: Earth
  • K Thnx Bye
Re: POLL: Household Income Percentile
« Reply #68 on: November 27, 2016, 04:25:56 AM »
I did this income percentile calculator for the UK: https://www.theguardian.com/society/datablog/interactive/2012/jun/22/how-wealthy-you-compared

Apparently I am living on the edge of poverty. WTF?

I mean, if you are a household of two, and nothing has changed since your journal. I am assuming you are still freelancing and your SO is a student? It makes sense, but should rise dramatically in years to come.

It's also hard to compare yourself to the median income when you are 25 years old and just starting out in the career world.

shelivesthedream

  • Walrus Stache
  • *******
  • Posts: 6757
  • Location: London, UK
Re: POLL: Household Income Percentile
« Reply #69 on: November 27, 2016, 02:15:48 PM »
I did this income percentile calculator for the UK: https://www.theguardian.com/society/datablog/interactive/2012/jun/22/how-wealthy-you-compared

Apparently I am living on the edge of poverty. WTF?

I mean, if you are a household of two, and nothing has changed since your journal. I am assuming you are still freelancing and your SO is a student? It makes sense, but should rise dramatically in years to come.

It's also hard to compare yourself to the median income when you are 25 years old and just starting out in the career world.

My beef was with the hugely overdramatic language the calculator uses. I don't exactly feel rich, but I feel like we're definitely comfortable and doing fine for where we are in life (being, as you stated, just starting out), but it says "You are living on the edge of poverty. Only a small reduction in income would see you slip below the poverty line." However, I have just gone back to see what the other income percentiles say and it turns out it's not exactly a finely graded summary. The options are: in poverty, on the edge of poverty, squeezed middle, comfortable, rich and super-rich. And we're not *that* far below squeezed middle. So I'll try not to take it so personally :)

10dollarsatatime

  • Pencil Stache
  • ****
  • Posts: 704
  • Age: 39
  • Location: Utah
Re: POLL: Household Income Percentile
« Reply #70 on: November 27, 2016, 02:26:28 PM »
Top 50%... but just barely.  Single income, full time job, freelance, and internet side gig.

Davin

  • Stubble
  • **
  • Posts: 112
  • Age: 53
  • Location: Eureka, California
Re: POLL: Household Income Percentile
« Reply #71 on: November 27, 2016, 03:38:05 PM »
I am at the bottom 17% for income, but above 60th percentile for net worth. While I am not a typical mustachian judging by the other responses, I believe it is the differential between the two statistics that counts.

BuffaloStache

  • Handlebar Stache
  • *****
  • Posts: 1298
  • Location: The boring middle accumulation phase
Re: POLL: Household Income Percentile
« Reply #72 on: November 27, 2016, 08:29:37 PM »
I am at the bottom 17% for income, but above 60th percentile for net worth... I believe it is the differential between the two statistics that counts.

Agreed- this is what Mustachianism is all about; High net worth regardless of your income situation. Awesome!

Malum Prohibitum

  • Pencil Stache
  • ****
  • Posts: 846
Re: POLL: Household Income Percentile
« Reply #73 on: November 28, 2016, 05:55:13 AM »
I am at the bottom 17% for income, but above 60th percentile for net worth. While I am not a typical mustachian judging by the other responses, I believe it is the differential between the two statistics that counts.
  You're damn right!

Linea_Norway

  • Walrus Stache
  • *******
  • Posts: 8576
  • Location: Norway
Re: POLL: Household Income Percentile
« Reply #74 on: November 28, 2016, 06:09:53 AM »
I didn't check your American list, but check at what I can read in my bank. My bank account has a module in which you can see what you earn and what you spend on 5 categories compared to the average of the population, sorted on gender, age, region etc. I'm making a pretty much mainstream income for women of my age and region.

mm1970

  • Senior Mustachian
  • ********
  • Posts: 10935
Re: POLL: Household Income Percentile
« Reply #75 on: November 28, 2016, 10:50:38 AM »
With currently the largest percentage of poll of replies in the top 5%, you guys are doing great!

To get to the top 5% the calculator requires $210,000.

I'm feeling a hint of jealousy over it.  Congrats to these people on your earnings.

I used to earn more working overseas(China) but we gave up the income in exchange for cleaner air when we had our first child.  My wife stays at home with our 2 children and my salary has us way down at the 31%. Fortunately we invested early and often so a NW > $1M and a frugal lifestyle helps me sleep at night.
Well, there you go.  We are about your age (teeny bit older), but instead of me staying home with our 2 kids, I work FT.

BTDretire

  • Magnum Stache
  • ******
  • Posts: 3074
Re: POLL: Household Income Percentile
« Reply #76 on: November 28, 2016, 11:43:07 AM »
Top 24% income percentile, top 5% NW percentile.
But must qualify with, we have been saving 34 years.
I'm retiring at the end of the year. WooWoo!!!

chesebert

  • Pencil Stache
  • ****
  • Posts: 816
Re: POLL: Household Income Percentile
« Reply #77 on: November 28, 2016, 05:57:13 PM »
With currently the largest percentage of poll of replies in the top 5%, you guys are doing great!

To get to the top 5% the calculator requires $210,000.

I'm feeling a hint of jealousy over it.  Congrats to these people on your earnings.

I used to earn more working overseas(China) but we gave up the income in exchange for cleaner air when we had our first child.  My wife stays at home with our 2 children and my salary has us way down at the 31%. Fortunately we invested early and often so a NW > $1M and a frugal lifestyle helps me sleep at night.
Holy cow! I though I was reading my own post. I took a 100k paycut to come back to the States. Turning out to be a great decision. Let's see where I'm in 5 yrs.

Slee_stack

  • Pencil Stache
  • ****
  • Posts: 876
Re: POLL: Household Income Percentile
« Reply #78 on: November 29, 2016, 08:34:51 AM »
Keep in mind COL.

Many big salaries also come in a HCOL area which can slow NW growth.


boarder42

  • Walrus Stache
  • *******
  • Posts: 9332
Re: POLL: Household Income Percentile
« Reply #79 on: November 29, 2016, 08:37:38 AM »
top 9% DINKs LCOL area

ender

  • Walrus Stache
  • *******
  • Posts: 7402
Re: POLL: Household Income Percentile
« Reply #80 on: November 29, 2016, 09:01:24 AM »
The lust for stats and comparison comes at the cost of meaningful insights, apparently.

If we make $100k in podunkvile USA vs San Francisco, which is more meaningful? Comparing those two incomes in a national comparison is completely pointless other than cheap entertainment at best.


sol

  • Walrus Stache
  • *******
  • Posts: 8433
  • Age: 47
  • Location: Pacific Northwest
Re: POLL: Household Income Percentile
« Reply #81 on: November 29, 2016, 01:48:50 PM »
completely pointless... cheap entertainment at best.

Welcome to the internet.

ender

  • Walrus Stache
  • *******
  • Posts: 7402
Re: POLL: Household Income Percentile
« Reply #82 on: November 29, 2016, 01:54:26 PM »
completely pointless... cheap entertainment at best.

Welcome to the internet.

I thought everything I read online was true?

2Birds1Stone

  • Walrus Stache
  • *******
  • Posts: 7963
  • Age: 1
  • Location: Earth
  • K Thnx Bye
Re: POLL: Household Income Percentile
« Reply #83 on: November 29, 2016, 02:19:17 PM »
completely pointless... cheap entertainment at best.

Welcome to the internet.

I thought everything I read online was true?

To someone, it is.

CheapskateWife

  • Handlebar Stache
  • *****
  • Posts: 1410
  • Location: Hill Country, TX - Being a blueberry in the Tomato Soup
  • FIRE'd and Loving it!
Re: POLL: Household Income Percentile
« Reply #84 on: November 29, 2016, 02:34:25 PM »
Top 3% here, but if you looked at our lifestyle you would NOT see it.

:)
This is us...DH just got offered a job that sends us into the 4-5% range once it starts.  We are going to save like crazy and FIRE in 2 years (his new employer clearly doesn't know that he has shorttimers before even starting the job :)

ender

  • Walrus Stache
  • *******
  • Posts: 7402
Re: POLL: Household Income Percentile
« Reply #85 on: November 29, 2016, 04:19:07 PM »
Top 3% here, but if you looked at our lifestyle you would NOT see it.

:)
This is us...DH just got offered a job that sends us into the 4-5% range once it starts.  We are going to save like crazy and FIRE in 2 years (his new employer clearly doesn't know that he has shorttimers before even starting the job :)

you must be a cheapskate ;)

Dave1442397

  • Handlebar Stache
  • *****
  • Posts: 1653
  • Location: NJ
Re: POLL: Household Income Percentile
« Reply #86 on: November 29, 2016, 06:09:57 PM »
Top 8% here. This is a HCOL area though, so I don't consider it a big income.

I just found this site last week, and I'm really enjoying it. I always try to listen to people who have what I want (high net worth), and am lucky enough to have quite a few multi-millionaires in my circle of influence. It all helps!

Papa Mustache

  • Handlebar Stache
  • *****
  • Posts: 1650
  • Location: Humidity, USA
Re: POLL: Household Income Percentile
« Reply #87 on: November 30, 2016, 09:15:45 AM »
Top 18% in a LCOL area.

MrMoogle

  • Handlebar Stache
  • *****
  • Posts: 1136
  • Age: 39
  • Location: Huntsville, AL
Re: POLL: Household Income Percentile
« Reply #88 on: November 30, 2016, 10:46:38 AM »
Top 34% for income, single.
Top 20% for NW.
Top 10% income for my age.
Top 5% NW for my age.
I'm rich AF.

SisterX

  • Magnum Stache
  • ******
  • Posts: 3035
  • Location: 2nd Star on the Right and Straight On 'Til Morning
Re: POLL: Household Income Percentile
« Reply #89 on: November 30, 2016, 11:42:38 AM »
I feel like I fudged my response. HusbandX hasn't started his new job yet. When he does, then we'll be top low20-something%. (I, on purpose, only work part time, or we'd be top teen-something%.) But until now we've mostly been bottom 30-25%. (Except for that one glorious year when we were top 45%.)

Trying for FIRE is going to seem like a cakewalk now that we're actually making decent money, especially since I didn't calculate in bonuses or raises. Holy hell, we will be rolling in dough! :)

MVal

  • Pencil Stache
  • ****
  • Posts: 844
  • Age: 41
  • Location: Missouri
Re: POLL: Household Income Percentile
« Reply #90 on: November 30, 2016, 11:58:00 AM »
Almost 27% in the top 5%?? Dang, we got some rich Mustachians here!

SnackDog

  • Handlebar Stache
  • *****
  • Posts: 1260
  • Location: Latin America
Re: POLL: Household Income Percentile
« Reply #91 on: November 30, 2016, 12:02:59 PM »
I'm not really able to calculate our income; too many moving parts on the pay stub (allowances, tax credits, deductions, stock grants, etc).  If I just look at what we are able to save (which I can readily see) it is top 3% I guess.   Some of you add in property equity increases and investments earnings but those are typically a lot more than we save annually since we've been at it 20 years (and therefore have relatively large savings and property bits).  Not looking forward to stepping off the income/savings train and onto the spend-it-down bus.

SeaEhm

  • Bristles
  • ***
  • Posts: 446
  • The Guilt is Real
Re: POLL: Household Income Percentile
« Reply #92 on: November 30, 2016, 07:28:55 PM »
Almost 27% in the top 5%?? Dang, we got some rich Mustachians here!

Just curious, how would you define rich? Like is there a formula you would use?

Jim Fiction

  • Stubble
  • **
  • Posts: 214
  • Location: Connecticut
Re: POLL: Household Income Percentile
« Reply #93 on: November 30, 2016, 08:10:59 PM »
Top 18%, HCOL.

MrMoogle

  • Handlebar Stache
  • *****
  • Posts: 1136
  • Age: 39
  • Location: Huntsville, AL
Re: POLL: Household Income Percentile
« Reply #94 on: December 01, 2016, 11:41:15 AM »
Almost 27% in the top 5%?? Dang, we got some rich Mustachians here!

Just curious, how would you define rich? Like is there a formula you would use?
http://forum.mrmoneymustache.com/welcome-to-the-forum/how-to-know-if-you're-rich/

needmyfi

  • Stubble
  • **
  • Posts: 213
Re: Household Income Percentile
« Reply #95 on: December 01, 2016, 02:57:46 PM »
Top 34%. I'm surprised though, because neither of us has high paying jobs - admin assistant and office clerk. But we do both work full time, so there's that.

2 full time incomes definitely helps!

The best part is, within the MMM community we likely have bottom % when it comes to household expenses compared to the general population.

I'm not sure if such a calculator exists due to most people inability to track their spending.

For a vast majority of the US, spending equals income.

Frugalman19

  • Bristles
  • ***
  • Posts: 257
Re: POLL: Household Income Percentile
« Reply #96 on: December 02, 2016, 07:24:20 AM »
Top 8 % and we cant even afford a house in our HCOL area haha

Rotax

  • 5 O'Clock Shadow
  • *
  • Posts: 38
  • Location: Phoenix Az
    • Suburbantoolbox.com
Re: POLL: Household Income Percentile
« Reply #97 on: December 02, 2016, 08:22:32 AM »
It might be helpful to see these figures broken out by amount of income earners in a household. The 2013 census had a ton of data on this subject. Here's what I think I read off the top of my head: 6% of single income households earn 6 figures or more but it's more like 19% of dual income households that earn 6 figures plus, so it might be helpful to note this as it tells a little clearer picture sometimes. If you are a single earner and don't earn 6 figures, that's pretty much the norm. If you have another person bringing in income, it's far more likely you're breaking the 6 figure mark.

Classical_Liberal

  • Handlebar Stache
  • *****
  • Posts: 1171
  • Age: 47
Re: POLL: Household Income Percentile
« Reply #98 on: December 02, 2016, 12:18:58 PM »
It might be helpful to see these figures broken out by amount of income earners in a household. The 2013 census had a ton of data on this subject. Here's what I think I read off the top of my head: 6% of single income households earn 6 figures or more but it's more like 19% of dual income households that earn 6 figures plus, so it might be helpful to note this as it tells a little clearer picture sometimes. If you are a single earner and don't earn 6 figures, that's pretty much the norm. If you have another person bringing in income, it's far more likely you're breaking the 6 figure mark.

Link to the 2013 data from SS based on individual "wage earners" vs household income.  According to this; mean raw wage per earner was about 43K, median was about 28K, and 100K puts one in the top 92-93 percentile.  This doesn't help for geographic differences, single vs married, etc.

https://www.ssa.gov/cgi-bin/netcomp.cgi?year=2013

Renegade23

  • 5 O'Clock Shadow
  • *
  • Posts: 21
Re: POLL: Household Income Percentile
« Reply #99 on: December 02, 2016, 01:20:35 PM »
Bottom 40% for America, top 20% for my age.