About these ads

What Americans Consider Rich


 

wealthymatters.comMany Indians who haven’t been abroad,tend to multiply foreign salaries by the exchange rate, compare them with Indian ones and get suckered into various job offers.However,what is rich and what is wealthy is really relative.It depends on where in the world a person  comes from and exactly how well off or not so well off the person might be in his/her own society.

Here are some figures of what Americans in general consider Rich and Wealthy in America.They are sourced from the results of the Gallup Poll reported here: http://www.gallup.com/poll/151427/Americans-Set-Rich-Threshold-150-000-Annual-Income.aspx

The table below shows what percentage of Americans consider how much a year as being rich :

Less than 60,000 USD 18
60,000-99,999 USD 12
100,000-150,000 USD 23
150,001-299,999USD 18
300,000-999,999USD 14
1 Million USD 11
More Than 1 Million USD 4

The next table shows the median value of income that different groups of Americans consider makes a person rich:

All Americans 150,000 USD
Men 150,000 USD
Women 100,000 USD
18 to 49 years 160,000 USD
50+years 100,000 USD
College Graduate 200,000 USD
College NonGraduate 100,000 USD
Annual Household Income Less than 50K USD 100,000 USD
Annual Household Income equal to or more than 50K USD 200,000 USD
Children Under 18 200,000 USD
No Children Under 18 100,000 USD
Big/Small City 200,000 USD
Suburb of Big/Small City 200,000 USD
Town/Rural Area 100,000 USD

The final table shows what percentage of Americans consider what net-worth as being wealthy in America.

Less Than 100.000 USD 13
100,000 USD 9
100,001-299,999 USD 6
300,000 – 999,999 USD 21
1,000,000 USD 24
1,000,001 – 4,999,999 USD 12
5,000,000 USD or More 14

So on an average, Americans consider having an income of 150,000 a year as being rich and having a million dollars stashed away as being wealthy.What strikes me so strongly at this point is that Americans would consider about 61/2 years of a rich person’s income put away as being wealthy.We Indian’s in India may not easily see these huge incomes,but any day a lot of us might beat the Americans at the net worth stakes whether  in dollar terms, PPP terms or just in terms of how many year’s income and by proxy expense we have stashed away.

About these ads

About Keerthika Singaravel
Engineer,Investor,Businessperson

One Response to What Americans Consider Rich

  1. Pingback: What Makes You Well Off In America ? « Wealthymatters

Please Leave Me Your Comments!I Love Reading Them!

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Follow

Get every new post delivered to your Inbox.

Join 2,443 other followers

%d bloggers like this: