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<p><span style="font-weight: 400;">When it comes to personal finance, what it means to be “rich” is relative. Ask the </span><span style="font-weight: 400;">73.3 million</span><span style="font-weight: 400;"> minimum wage workers in the U.S. the income level they consider rich, and then pose the same question to the more than</span><span style="font-weight: 400;"> 700 America</span><span style="font-weight: 400;">an billionaires. Between the two groups, answers are bound to differ by orders of magnitude. </span></p>
<p><span style="font-weight: 400;">While there is no strict definition of what it means to be rich, there are some useful income benchmarks to compare how you stack up in the financial hierarchy. </span><span style="font-weight: 400;">(This is how wealthy the middle class was the year you were born.)</span></p>
<p><span style="font-weight: 400;">Reviewing data from the U.S. Census Bureau’s 2021 American Community Survey on the minimum household income needed to be among the top 20% of earners, Darlinez News. identified the income it takes to be considered rich in every state. </span></p>
<p><span style="font-weight: 400;">Nationwide, it takes an annual household income of at least $140,307 to be in the highest earning 20% of households. Depending on the state, households need to make anywhere from about $102,000 to over $180,000 to rank among the top 20% of earners. In most of the country, top earners bring in at least $60,000 more per year than the typical household and account for over half of all earned income. </span></p>
<p><span style="font-weight: 400;">To be among the highest earning 5% of households, annual incomes start anywhere from $175,500 to over $250,000, depending on the state. </span><span style="font-weight: 400;">(These are the states where Americans make the least money.) </span></p>
<p><span style="font-weight: 400;">Generally, states where the threshold to be among the top 20% of earners is highest also tend to have a higher than average cost of living. In the 10 states where it takes the highest income to be considered rich, the cost of living is anywhere from 1% to 12% higher than the national average. </span></p>
<p><span style="color: #008000;"><strong>Click here to see the income it takes to be rich in every state.</strong></span><br /><span style="color: #008000;"><strong>Click here to read our detailed methodology.</strong></span></p>
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The Income It Takes To Be Rich In Every State – Darlinez News.
