re: Top 1% income

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Are we talking individuals or households. Two working adults can get there without being CEO

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Very few households are making that kinda money and definitely not easy.

We have made well over a 7 figure income for the past several years. It's a blessing but we never thought that we would be in the 1%.

We looked into building an expensive house that rivals the value of Uptown mansions and houses near the Old Metairie Country club. We were stressing out with the idea of a mortgage that was tens of thousands of dollars a month. We met with my FA and discussed the pros and cons. We asked him "what amount of house do people in New Orleans with our income get." He said that no-one makes that kind of $ in NOLA and gave me examples of Entergy execs and billboard lawyers that make less than us.

I then pointed out that this makes no sense given all the multi-million $ homes for sale/sold/etc. It did not compute, until the FA told me that the majority of people purchasing those types of houses pay it entirely or majority in cash with old money, try to hedge investments by shifting stock to real estate or inherit it after it being 50+ years in the family.

After that meeting we pumped the brakes and bought a nice but much cheaper luxury spec house at a quarter of the cost. We will reevaluate the newbuild once we have all or majority cash on hand.

Now if I moved to California, Palm Beach, or NYC, our income would be more toward the average side. The big money are in those cities.

as we have said many times this board is a damn ANOMALY.

i will be well within the top 5% range this year. maybe top 4%. many are in and out of this based on certain years.

and we have a few here who are 1%ers as we have seen. huge feat.

however the real tale IMO is most this board's regular posters are in the top 10% i would think.

this board is not normal by any means. most the lower 90% do not even post here.

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this board is not normal by any means. most the lower 90% do not even post here.

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I agree with you. Being in the top 10 or 15% is something to be both proud yet humble of, and have humility. I was not in that boat until ten years ago. Life before that was a struggle. I have nothing but respect and appreciation for the people who work their butt off with pride for less than $100K.

No need to consider or have an opinion. These are the numbers for Alabama.

Here are the estimated income thresholds in Alabama for different income percentiles:

1. The Top 1%:
• To be in the top 1% in Alabama, an annual income of approximately $410,000 or more is required.
2. The Top 5%:
• The income needed to be in the top 5% is around $180,000 or more per year.
3. The Top 10%:
• To be in the top 10%, an annual income of about $135,000 or more is necessary.
4. The Top 15%:
• For the top 15%, an income of approximately $110,000 or more per year is required.
5. The Top 20%:
• To be in the top 20%, an annual income of about $90,000 or more is necessary.

You don’t know anyone that makes 800k a year ??? That’s hard to believe

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This thread makes me feel poor. I’m probably a 2%er, and just hoping to stay there in my salaried role.

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Economic thermostats change throughout life. Regardless, it's important to not fall into "lifestyle creep"

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So what would everyone here consider Louisiana residents:

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This is what I could quickly find

Top 1%: According to a SmartAsset analysis of IRS tax filer data, to be in the top 1% of earners in Louisiana, you need to make at least $458,269 annually. This is $194,388 less than the national household figure of $652,657.

Top 5%: The income threshold for the top 5% in Louisiana is $199,454

Top 10%: The income for the top 10% in Louisiana is $217,082

75th percentile: The 75th percentile for annual salary in Louisiana is $66,900.

Median income: The median income in Louisiana is $51,073

Guessing top 10% is 117k since it needs to be below 5%