# What Americans Consider Rich

Many 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.