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I'm making an assertion based on my own personal experiences, just like I'm assuming you're doing as well. I've yet to meet someone who studied/worked all the t

by whack 10y ago

I'm making an assertion based on my own personal experiences, just like I'm assuming you're doing as well. I've yet to meet someone who studied/worked all the time during their high-school/college/career, and still failed to secure a six figure income.

jwatte 10y ago
(Assuming US differs and jobs here) A six figure income is way below 99%. It's below 90% for most six figure earners in the US. You need seven figures to get to the top 1%. I know smart people who worked very hard in high school and university who aren't even in the 90%. In fact, you are very unlikely to get into the 1% based on things you learn in college. You mostly have to be in finance or run a successful business to get there, or be quite lucky.
- Godel_unicode 10y ago
  The top 1% in the US is around $500k/year, but that's not actually what you care about for measuring wealth. Many members of the top 1% are only there for 1 year, and of those who make it multiple years, even fewer manage 10+. The number you should care about is net-worth. High net worth from a lifetime of careful financial decisions is much more indicative of success than being in the 1% for a year or two. It requires hard work, planning, and life-long frugality. This is in line with OPs assertion that working hard and planning for the future is uncommon and will get you far. http://money.cnn.com/2016/01/07/news/economy/top-1/index.html http://money.cnn.com/2016/01/07/news/economy/top-1/index.htm...
lisper 10y ago
A six-figure income does not put you in the top 1%. $100k/yr doesn't even get you into the top 20%. To get into the top 1% you have to make more than $500k/yr. http://www.investmentu.com/article/detail/35049/mailbag-how-to-know-if-youre-rich http://www.investmentu.com/article/detail/35049/mailbag-how-...
- classybull 10y ago
  You're comparing two different metrics. Your source talks about household income, which is generally a measure of two primary incomes. You're comparing a single income to two incomes. whatsmypercent.com utilizes some good datasets to build out income percentiles. They suggest that $100k/year puts in the the 96% percentile. The 80% percentile starts around $42k/year. That being said, it is kind of a long tail situation, due to the effects of wealth inequality in this country. The 99% percentile starts at $193k/year.

by whack 10y ago

jwatte 10y ago

(Assuming US differs and jobs here) A six figure income is way below 99%. It's below 90% for most six figure earners in the US. You need seven figures to get to the top 1%. I know smart people who worked very hard in high school and university who aren't even in the 90%. In fact, you are very unlikely to get into the 1% based on things you learn in college. You mostly have to be in finance or run a successful business to get there, or be quite lucky.

Godel_unicode 10y ago
The top 1% in the US is around $500k/year, but that's not actually what you care about for measuring wealth. Many members of the top 1% are only there for 1 year, and of those who make it multiple years, even fewer manage 10+. The number you should care about is net-worth. High net worth from a lifetime of careful financial decisions is much more indicative of success than being in the 1% for a year or two. It requires hard work, planning, and life-long frugality. This is in line with OPs assertion that working hard and planning for the future is uncommon and will get you far. http://money.cnn.com/2016/01/07/news/economy/top-1/index.html http://money.cnn.com/2016/01/07/news/economy/top-1/index.htm...

lisper 10y ago

A six-figure income does not put you in the top 1%. $100k/yr doesn't even get you into the top 20%. To get into the top 1% you have to make more than $500k/yr. http://www.investmentu.com/article/detail/35049/mailbag-how-to-know-if-youre-rich http://www.investmentu.com/article/detail/35049/mailbag-how-...

classybull 10y ago
You're comparing two different metrics. Your source talks about household income, which is generally a measure of two primary incomes. You're comparing a single income to two incomes. whatsmypercent.com utilizes some good datasets to build out income percentiles. They suggest that $100k/year puts in the the 96% percentile. The 80% percentile starts around $42k/year. That being said, it is kind of a long tail situation, due to the effects of wealth inequality in this country. The 99% percentile starts at $193k/year.