How Much Income Is Considered Rich? (With Data)

[@humphrey]

I hope this video was informative, let me know your thoughts - leave a comment below, I try to write back to everyone who comments in the first 30 minutes - 1 hour of the video release! So turn on your noti bell ;)

[@Sc9cvsd]

Another big factor is write offs. Many people who make high 6 or 7+ figures own businesses and have write offs and in reality make far more than their taxes show. Maybe on paper only 1% make more than $500k but in reality a lot more are pulling in over that but for one reason or another it isn't in their AGI

[@AFGixxeR88]

Apparently the six figures is very common these days. Lots of kids make that a month

[@LivaHolst]

One lesson I've learned from millionaires is to always put your money to work, no matter how small. Even investing $100 per month can compound to tremendous wealth over decades. The key is to keep going!

[@michaelhernandez2868]

Hi, Humphrey. I retired in November of 2021 at age 60 in midwest, northern Illinois. I didn't break the $100k point 'til 2017. The most I ever made from earned income was $128k. But the final 11 months that I worked I made $108k of earned income from my job at a major utility & $400k gross from real estate investments. I accumulated $1.8 million in assets in 401(k), Roth i.r.a.s, rental properties & a very small farm. I sold 1 property that made it possible for me to retire that same year. Another large electric utility kinda told me to sell to them or they could take it from me by emminent domain. I bought it in 1996 & had paid it off long ago. So, I said, "Ok...". I only have a high school diploma & knew I would never afford college. So, I went to work for a natural gas utility & stayed with them for 37 years. I just knew that I had to make it past $1million in investments & not rely on a huge income because I didn't attend college. I managed to pass that mark by a bit more.

[@klaasbernd]

Great good for you. Too bad wages have stagnated so much over the last 40years that nobody can follow

[@BaphomentIsAwsome666]

Plato once said " The most important thing in life is not to have the most but need the least." If I can make 70k with my current work load which is 18-23 hours a week then I'm golden.

[@penitent2401]

Making 70k working only that many hours per week means you have to earn $70 per hour.

[@Tymannosourus]

No he didn’t

[@BaphomentIsAwsome666]

@Tymannosourus Well shit your right it's contributed to Socrates but at least Plato was his student

[@lionhearted99]

Another important aspect is unrealized gains in investment portfolios. These won’t show up in income figures, but are a huge factor in building wealth. Surprised at how high some of these annual figures are relative to net worth benchmarks.

[@TheJahnStead]

Being in Texas with a 140k salary I personally feel to be touching the rich feeling. It is almost guaranteed for us to save at least $2k a month at a minimum even though we do not hold back too hard on what we do during the month. I do believe that you don't always need to obtain a high level degree. I only have a bachelors and work as a Controls Engineer. To me the key if you do not get a graduate degree is to keep expanding your skills. I primarily work with PLCs but still have learned how to use Python, C#, and various scripting languages because companies value having someone that can build tools that improve the efficiency of our every day tasks. I run a small eBay business selling battery packs. I do all of my own investing. Never stop learning.

[@vincea1830]

That's kinda wild, I save roughly 2k a month making 35% of that income. You must have some crazy truck debt or something 😅

[@grannytorrelli2560]

@@vincea1830lol, no need to lie for internet clout man. You take home less than 4k a month, but save 2k? Seems legit.

[@randxalthor]

Wanna be in the 1%, you're usually gonna have to be a little bit of a salesperson in some way. Running a business, working on commission, representing a person or entity negotiating contracts. Whatever it is, the most valuable skill comes down to convincing a few wealthy people to give you a lot of money or many people to give you a little money.

[@mocheen4837]

Sales people make a lot of money going into the millions.

[@JasonTaylor-po5xc]

It is hard to break into the top 5% or better without owning your own successful business. There are a handful of exceptions like specialized jobs (underwater welder). Also, if you had a good income and saved/invested very well, by the time you're in your 50s you could be top 5% or better.

[@edwardgh57]

I lived my working life by the Navajo saying “ a man can not get rich without taking proper care of his family”. Then when work ended and money was no longer a focus, my richness increased, because of the law of attraction. Amazing what a feeling can do.

[@humphrey]

wow nice

[@edwardgh57]

life’s lessons learned, priceless.

[@VirginiaHapa]

I find the household vs individual definitions across these reporting agencies confusing for folks. They aren’t necessarily the same. A household can include two earners, no? It might be good to make that distinction clear.

[@johnma807]

Based on these numbers, it sounds like he is talking about personal wage and not household income.

[@RellikReyalp]

​@@johnma807yeah but the median income he was talking about is household and not personal wage. So thats often considered a 2 person household. Median personal wage is around 40000 dollars.

[@philippelarocque4207]

Acknowledgement and gratefulness for what we have, well said!

[@adoneves22]

Hey Humphrey, I found you on TikTok back in 2020 or 2021 and I've been a fan since. Keep up the good work! Love from Portugal 🇵🇹

[@humphrey]

So cool! thank you for watching since 2020/2021!

[@me0101001000]

I'm on the PhD track. I have a master's in engineering, seeking a PhD in chemistry, aiming for a tenured position in academia, which is usually pretty secure as well as lucrative in my target field. But it really isn't so much about the money for me, as it is that my actual job is going to be trying to answer my most pressing questions and maybe discover something new. Oh, and the fact that I never have to retire.

[@humphrey]

thats awesome, idk if id want to fully retire, it seems a little slow. I want my brain to always be working on something, i think that can help prolong life. who knows

[@peterq9359]

Coming from a PhD, academia is never going to be "lucrative". It is isolated and safer for sure

[@DM-ql6ps]

I'm not sure I'd consider academia lucrative. Salaries for academia are lower than for corporate world. Yes, it's secure and very fulfilling and you'll earn enough for a comfortable life (I'm in academia myself). Do it if it's your passion, not to get super rich.

[@me0101001000]

@@peterq9359 it does depend on the field. Math doesn't pay so well. But engineering definitely does, especially chemical and electrical.

[@me0101001000]

@@DM-ql6ps oh of course. That's why I said it isn't so much about the money. The area I'm interested in pays above average, but not ridiculous, but that doesn't matter to me as long as I can provide for myself and family, while doing meaningful work which I like to do.

[@jk23365]

Great videos man, I look forward to these every week! You have really inspired me to think more about my finances and how to optimize my savings

[@humphrey]

dude i love hearing that! thank you so much for watching.

[@JonLikes2Jam]

right there with ya on this

[@JonasIversen-ob7yr]

9:40 Wealth and income are two very different things mate

[@Brigh578]

😊Managing money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains. The examples you provided are relevant, and I personally benefited from the market crisis, as I embrace challenging times while others tend to avoid them. Well, at least my advisor does too, jokingly

[@JennyMaxwell-r1y]

This is superb! Information, as a noob it gets quite difficult to handle all of this and staying informed is a major cause, how do you go about this, are you a pro investor?

[@Brigh578]

Through closely monitoring the performance of my portfolio, I have witnessed a remarkable growth of $508k in just the past two quarters. This experience has shed light on why experienced traders are able to generate substantial returns even in lesser-known markets. It is safe to say that this bold decision has been one of the most impactful choi

[@JennyMaxwell-r1y]

I've actually been thinking of reaching a portfolio-adviser, my 401k and stocks been losing everything it's gained since 2019, mind if I looked-up this one coach you use?

[@Brigh578]

The adviser I'm in touch with is *CAROLINA MELINA PHERSON* she works with Merrill, Pierce, Smith incorporated and interviewed on CNBC Television. You can use something else, for me she strategy works hence my result. She provides entry and exit point for the securities I focus on.

[@JennyMaxwell-r1y]

Thanks, I just googled more about her, I'm really impressed with her credentials. I reached out to her since I need all the assistance I can get.

[@JasonTaylor-po5xc]

For me, big city trappings can get old quick and it can be super expensive. Instead, if possible, live in a lower cost of living area and visit the larger cities when you want those attractions. Additionally, those features will feel more special since you can't access them everyday and you'll be less tempted to spend away what little disposable income you might have by living in a high rent area.

[@nicolasbenson009]

I started buying some more stocks at the beginning of the year, but nothing big. Why am I treating this so harshly? I still want to be the first person in my polygamous family to make a million dollars despite the fact that others in my field make six figures per person. I am well aware of the costs associated with working more to get more money.

[@philipc2208]

Being rich for me is freedom. My time is priceless.

[@markciocco2509]

It is VERY important to identify whether any of these income values are individual or HHI.

[@HudsonK23334]

Oklahoma City here. 26, 0 debt. $70k salary isn’t even enough to buy ANY starter home or condo in a suburb or metro area. No idea how average income earners are surviving on the coasts.

[@Briluvr]

I don’t live there but I checked Zillow and there’s quite a few houses below $150k. I’m sure with your salary you could afford more

[@soonerj97]

Me living like I'm poor in OKC 😬 we all gotta start somewhere.. Thank you for taking the time and effort to make these videos!

[@verychinnyapga1599]

You are not only smart. You are a good-looking man. Thank you for this information.

[@1DiscipleDragon]

I feel glad to live in one of the nice countries. Knowing that even though I'm not the richest, I already have a pretty decent life in the world and I shouldn't be complaining.

[@GreenBlueWalkthrough]

12:43 I've found that to be true for gaining expernce and mastery as while I don't follow that methiod exactly I do enough stuff regulay to have gotten really good at them... So to add you don't have to do just one thing but instead do something at that pace.

[@scottjackson163]

The numbers for top 10% seem about right to me. I’m 65 - and not planning to retire anytime soon - yet my income continues to rise, at the rate of 5% per year.

[@girlyteengirl101]

i love the purple light coming from the other room!

[@kyuj2884]

Keep it up man. I love your content.

[@humphrey]

thank you !

[@boredoreos]

Is this per person or per household? Is it only counting salary or alternate sources of income like rental properties and investment income?

[@humphrey]

Household, apologies. And it does include other managed assets, so it should include rentals + investment income, however, as I am realizing now the video makes it seem like its all based on w2 income, which it may or may not be. The data isnt parsed out by family.

[@EdA-bz3bu]

We live in the land of plenty and for most it’s NEVER enough.

[@josephbrown9685]

When one lives solely for the accumulation of material items, he or she will never be satisfied.

[@jerry19484]

26, 210k liquid TC, 350k total TC after IPO. Gotta love tech

[@xiphoid2011]

at the other guy said during the interview is false. Sure, you can skip that and take risk to start your own business, hoping to strike it rich. But thrn you are taking on the 90% chance that your business will fail in the first year. Or, like Asian Americans, being highly educated and be 95% assured of a high income, then use that high income to buy equity/ownership in a successful business and have their employees make money for you. Anyone who says a high paying job cant make you rich obviously doesn't understand risk management in investing.

[@sharingonegduf]

🎯 Key Takeaways for quick navigation: 00:28 🏦 Be honest and transparent about your financial situation to build trust and a strong foundation. 02:20 🤝 Establish shared financial goals to align your efforts and contributions. 03:57 💼 Consider a hybrid approach to managing finances - maintain individual accounts while contributing to shared goals. 08:13 🤖 Use regular reviews (monthly, quarterly, annually) to track progress, adjust goals, and maintain financial alignment. 14:41👫 Understand that marriages require effort, and children introduce added complexity to financial management. Made with HARPA AI

[@humphrey]

close

[@piewars12345]

​@@humphrey😂

[@danwirth3511]

😂😂

[@sdoolin87]

Is this strictly for individuals, or for household incomes?

[@Nursemidratz]

had the same question. he kept switching between them and never specify. Most likely is household

[@jona2726]

We should get a top 10% excluding the top 1%. This top percentile warps the whole chart it's so elevated.

[@penitent2401]

If you want to know what the top 20% income is, it is just the average. Meaning the top 20% earns 50% of all income. The median income, meaning half of earners earns above and half below, is just half of the average. Half the population earns less than half of the average income.

[@queenofpents3442]

Hey Humphrey, can you discuss inflation and interest rates and when you see things going down? I'm still confused by all the terminology.

[@racheee22]

7:07 totally agree!

[@aghazafarali5464]

9:40 The distribution of global wealth is the net worth, I believe, not the income? Otherwise, it takes $43k to be among the top 1% that doesn't align with this distribution.

[@humphrey]

mostly frmo this article: foreignpolicy.com/2012/02/27/were-all-the-1-percent/

[@bywolves]

I love your videos. I’ll say I’m getting confused between “individual income” versus “household income” and comparing the two. Maybe you are always referencing individual income in your videos tho.

[@humphrey]

this video was household!

[@MelfiortheOne]

Hope I get into 80% bracket

[@lizardmilk]

No surprise the lowest income threshold to be in the top 1% is in southern states. The bar is very low there.

[@Markrtsoon]

Income does not make one rich. Net worth does.

[@jamesstewart5005]

Top ten percent of my age bracket and I'm a high school dropout. Not bad considering I was in poverty from birth up until about four years ago! I have a lot of catching up to do with retirement and a safety net though.

[@humphrey]

dude, amazing!!

[@jamesstewart5005]

@@humphrey When you have children it really changes your priorities.

[@baum9048]

​@@jamesstewart5005what is your job?

[@jamesstewart5005]

@@baum9048 I work in IT. I never went to school for it but had been doing repairs since I was 13. After some persistence handing out my résumé someone finally gave me a chance. It's been all uphill from there. Except for Covid lockdown of course.

[@philipknapke7529]

What is the individual income rather that household income?

[@CaptainNinjaKid]

I'm making 94k at 22 but I'm living in LA. To feel rich I would want to practically double my income but I know I'm likely to just save all the money and never spend

[@walkerjester2048]

Great video! Would have loved if net worths were included it 😃

[@Rachelschneider03]

I'm not kidding when I say that the market crash and high inflation have me really stressed out and worried about retirement. I've been in the red for a while now and although people say these crisis has it perks, I'm losing my mind but I get it Investing is a long-term game, so focus on the long run.

[@ReidCoffman1]

I can’t focus on the long run when I should be retiring in 3years, you see I’ve got good companies in my portfolio and a good amount invested, but my profit has been stalling, does it mean this recession/unstable market doesn’t provide any calculated risk opportunities to make profit?

[@AshtonGrace]

I agree, my profit has been consistent no matter the market situation, I got into the market early 2019 and the constant downtrends and losses discouraged me so I sold off, got back in Dec 2020 this time with guidance from an investment adviser that was recommended by a popular economist on a subreddit, long story short, its been 2years now and I’ve gained over $850k following guidance from my CFA.

[@MariusNatt]

@@AshtonGrace Impressive can u share more info??

[@AshtonGrace]

Having a coach is key in a volatile mar-ket, My advisor is "Maria Teresa Tyler" You can easily look her up, she has years of financial-market experience. @@MariusNatt

[@Rapha187]

Blah blah fuck these scamming bots

[@RS-jd2py]

Didn't you say household income and not individual income? Two very different things...

[@prancingzebra9106]

It is crazy to see the jump in income. I’m in the 1% now for 30-34 and I think I can maintain that but once 45-49 hits. That’s a lot of money to earn!

[@fadeyewa9678]

Wow that's great! What do you do?

[@prancingzebra9106]

@@fadeyewa9678 I run collision repair centers

[@3301-w5d]

Loved the video Humphrey! you've come so far, and the content you are putting out is very informative. I personally think that richness in terms of $ is subjective and then it becomes even more subjective when we are not talking about "rich "but "wealthy" (which takes into account much more than just $ in your account, such as health, family, relationships, wisdom etc.). But i personally think that today, in this society, to feel rich, you need to make over 500.000$ a year. which correlates to being in the top 1% ish given the statistics. for me personally, it's much more than that haha

[@michelle56704]

Also, it’s more important that how much you can save. ❤

[@rosepink296]

Happy to see the income that comes with having an advanced degree, gives me some more motivation to continue schooling if need be!

[@ryanc4955]

Be careful on the degree though. Make sure it has a high return on investment! And go to an affordable school if you do it

[@rosepink296]

@@ryanc4955 my income after my 3 AA's got me a salary of 80k and due to the nature of my job there's a lot of downtime in which I can do homework. I'm able to get my BS debt free while still having money come in. It's awesome and I love financial videos like these and I'm glad I found them early! My income should double once I finish my BS too!

[@lucaspm98]

I bet this is more of a correlation than a causation. Meaning ambitious people who are likely to succeed will apply that ambition to their education, but their education did not cause their success.

[@isaacl6402]

We always see people on social media flexing how they got rich quick. But for each one of those there are probably hundreds doing it the old fashion way through dedication and high education. If you really want it, either way you are going to have to work for it.

[@penitent2401]

For every one on social media who struck rich quick there are hundreds who fail to. It's like playing lotto and only seeing winners celebrating on TV, they don't show all the losers.

[@vibe_tube3634]

Top 1% on 30 to 35 age but why I still can’t afford steak for every meal?

[@ramlozano]

Thanks for the informative content. Just want to clarify if these figures are gross or net?

[@maxchang5581]

Hey random question but are you Hmong?!

[@dingusfinance8931]

I heavily recommend the Oklahoma City metro.

[@jaydenrussell7491]

thank god for KZbin it such a beautiful platform sometimes I think how unlucky I could of been if I were born say 30 years ago

[@humphrey]

lfg

[@TechTime111]

Hey Great Video! I think you should make another video when new data is released. 2019 data cannot be applied to 2023. Especially after the fed money printing. I think top households make wayyy more today than what the 2019 data shows.

[@Surfer-727]

Another great video ! 4 million would make me feel rich ! 💲💲💲💲

[@jeremykeller211]

O Humphrey! The aspiring middle class thinks in terms of income. They don't grasp that the very rich do not have incomes. They don't need them.

[@willmallory9085]

Excellent video Brother

[@humphrey]

Thanks for watching

[@pnvst6648]

The minimum to feel rich in small town Midwest is in the 90-100k range I believe.

[@aznmarinex2]

Would you equate total compensation with income or do you just count salary?

[@humphrey]

total i believe, the survey includes all financial sources

[@basilman121]

Oh... okay well in that case, I'm in top 10%

[@annawong1305]

Another video telling me I'm poor 😅 I'm in the UK but these videos are still interesting! If i had a million dollars, i think then I'd feel rich.😅 as for income, $100k salary sounds decent where i live in northern England. I'd have to be Head of Finance to get that kind of income as an employee.

[@humphrey]

ill try to be more inclusive of the UK in the future!

[@annawong1305]

@@humphrey no worries, you're doing great and I love all your videos.

[@baum9048]

Me who is going to earn 30k € yearly if i stick with my aprenticeship: 🥲

[@AvelineOztas]

As an lnvesting enthusiast, I often wonder how top level investors are able to become millionaires off investing. . I’ve been sitting on over $545K equity from a home sale and I’m not sure where to go from here, is it a good time to buy into stocks or do I wait for another opportunity?.

[@SujayPera]

Well as you know bigger risk, bigger results, but such impeccable high-value trades are often carried out by pros.

[@NoahNollens]

People dismiss the importance of advisors until they are burned by their own emotions. I remember a couple of summers ago, following my lengthy divorce, I needed a good boost to assist my business stay alive, so I looked for qualified consultants and came across someone with the highest qualifications. She has helped me raise my reserve from $275k to $850k, despite inflation.

[@BrigetGstar]

How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?

[@NoahNollens]

Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with *Julianne Iwersen-Niemann* for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.

[@BrigetGstar]

I simply Googled her name and her website came up right away. So far, it appears interesting. I emailed her, and I hope she responds soon. Thanks

[@cathysheahan7036]

Nice T-shirt

[@Johanneslol11]

It's intresting to see that america also cares so much about degree. I live in the Netherlands and I earn 60.000 euro per year with just my bachelor.

[@keska01]

60k in the NL goes much farther than in the U.S.!

[@JairoCarbajal999]

Hey Humphrey I dropped a like on the vid and i saw a ufo not too long after 💪🏽😂 thanks man!

[@williamqi]

How do you factor in total income like bonus and equity? Are these figures just salary? Is this household or individual?

[@lycanwarrior2137]

Household

[@monodactyl3975]

at @9:42, you have a chart for Distribution of Global Wealth and said that it showed 53.2% of people make less than 10,000 a year. It shows that 11.8% makes at least $100,000. This doesn't feel right. Is this net worth or income?

[@mess436]

It's net worth not income.

[@dimitrikatsaros9212]

The question I have is the statistics on educational impact on income. The question is of causality: does higher education lead to higher income or are those who can afford to go to college -- as a group -- more likely to earn more anyway due to other factors?

[@eikoGoldstein]

The chart shows the correlation between educational levels and income. Correlation is not causation. Your question is a good one, but we will have to look elsewhere for your answer. I suspect character, virtuous habits and intellect are determinative. Luck is always useful, if you are prepared to recognize and capitalize on it. Best wishes!

[@polivios13]

This is net or gross income?

[@lonai319]

Really informative video, wonder what's it like being the Top 10% - 1% by age group in the top 10 U.S states by population

[@vxnova1]

Hey got an idea for a new video, just researching cd’s on fidelity and there looks to be quite a few options, broker or bank , new issue or secondary, as well as cd funds, can you discuss each type and maybe go through making a purchase of the recommended type on fidelity, Appreciate your videos, Thanks for helping us financially challenged people.

[@zacknelson8918]

I am 30 never went to college. Graduated high school with a 2.4, I work full time my own business and I earn on average 6 figures easily,

[@yungrichnbroke5199]

Is this personal income or household income?

[@yungrichnbroke5199]

Also you shouldn’t say “of all incomes” if you’re referring only to an age rage. That’s not all incomes lol.

[@yungrichnbroke5199]

Also it’s pretty cool that I’m in the top 1% as a single earner in my age range :D At this point though, I feel like percent is not a good metric. Steps of 1/100 aren’t sufficiently granular in a world with billions and a country with hundreds of millions of people. We should use 1/1000 or ‰ especially considering how huge of a difference too 1% is vs top .1 percent and higher. Looking just at the table you would never know someone could be a billionaire.

[@yungrichnbroke5199]

@ 9:43 this doesn’t make any sense. Why does it show the the top 1.2% makes $1m+ when you said the top 1% happens at $40k/year? This is wealth *not* income! Huge huge difference.

[@SophiaBint-wj8wn]

Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Instead of trying to predict and prognosticate the stability of the market and precisely when the change is going to happen, a better strategy is simply having a portfolio that’s well prepared for any eventually, that’s how some folks' been averaging 150K every 7week these past 4months according to Bloomberg.

[@PhilSommer2]

That’s crazy, I’m just doing everything wrong with my portfolio.

[@philipcollen482]

Same here, 75% of my portfolio is in the red and I really don’t know how long I can stomach the losses. I’m beginning to reach a breaking point.

[@blessingpaul5484]

The US-Stock Mrkt had been on it’s longest bull-run in history, so the mass hysteria and panic is relatable considering we’re not accustomed to such troubled mrkts, but there are avenues lurking around if you know where to look. My husband and I are retiring this year with over $7,000,000 in tax deferred investments. up until 3 years ago we were 100% in the S&P. During bear markets we had a perfect plan. We got an investment manager in our corner and didn’t look at our portfolio for nearly a year.

[@KatherineAnderson-lm8bw]

Patience patience patience. It's a cycle.... a sucky point in the cycle, but a cycle nonetheless.

[@Jessicatorres_768]

Please do you mind referring me to your financial analyst?

[@armandoweckmann5699]

Is this dual income household? Or single income?

[@humphrey]

this video was household!

[@RS-cl5wg]

What would be your recommendation for long term most aggressive highest potential growth portfolio?

[@Ferhernando]

Wait if the cost of living is 14% lower then doesn't that mean that it is worth $114k?

[@tejindersingh4154]

Can you give the top 10, 5 and 1 percent numbers disregarding age

[@kevin10087]

I need to be making 100,000 to feel rich and I am in sf. That should be enough for all my needs plus renting a decent apartment and saving enough to get out fast.

[@Legacy-Talks]

Household stats make this really confusing because one household may be one person and another household five people. Video would have been better if it was based on per capita

[@Jungernaut]

Sheesh 🔥🔥

[@shannoncargo468]

Education is not everything for being top income I can promise ya I’m one of the top of my class and never wasted money on college

[@mariormarin7514]

Took me 30 years to get to top 10% at 50 in California. Should’ve listened to mom. Go to school!

[@RealGrandFail]

Healthcare is free in some of these countries with less, I will leave it at that.

[@stinkykyle96]

I'm 27 making ~150k TC in rural NJ. I feel really well off and don't worry about money at all, but I don't feel rich because I have friends at FAANG companies making 200-400k 😬 Yes I'm in software engineering and so are my friends. We have bachelor degrees. Thinking about getting my masters, but not sure what area. Definitely something data or AI related

[@weswest8666]

Who cares what everyone else is doing, do what you want to do, if formal higher education interests you then snag a masters, often it’s not needed in tech to get ahead tho…

[@stinkykyle96]

@@weswest8666 oh yeah I’m really happy at my current job, only saying I don’t feel “rich” despite making a very reasonable salary. I’m more concerned with happiness and quality of life 🙂

[@henryscott4811]

how about the effect on income for top 1% or .01% broken down by education. As someone who is 25 already doing well and not content I spend time thinking about what differentiates or what I must do to go even further (divorce time working being a ratio of money earned and scaling income based on value of work/something entreprenurial)

[@humphrey]

hmmm, Id have to look into that. You have a very good problem to have.

[@SE_the_ViewLOG]

Your health is your wealth! Without your health, you have no peace of mind, as a society, we should emphasize happiness/health/finding purpose vs the dollar sign

[@mikeatback]

Okay it looks like i need to figure out how to go to the top five percent of my age bracket. I think i will grow two money trees instead of one.

[@davidnewton9857]

This is household income .. Not individual income. That's why the numbers are high.

[@Runeblade484]

Why are we using household income instead of individual income? People shouldn't be comparing themselves to possible dual income homes.

[@BMinquaGrl]

@humphreyyang you've excluded the trades from your upper middle class and upper class groups. I know many contractors, electricians, etc who make between $100k-$200k a year. Otherwise, great info.

[@DV-lh2ov]

Freely switching between household incomes and individual incomes without mention...confusing..

[@Maurice181]

On your first slide... I'm pretty sure those are "household" incomes, not individual incomes.

[@humphrey]

Yes!

[@0xtakoyaki8]

This video is a bit confusing when you talk about individuals but links to household income

[@howellwong11]

Income and net worth are different. Who is richer, a person with a 100K salary with 100K in the bank or a person with 50K with 1,000K in the bank?

[@filgaia1]

Feeling very disillusioned by the comment that renting out my time isn't the way to being rich. I am in the top 1% for my age range but looking at those numbers I will never ever be able to hit making $800k a year and will quickly fall into the top 5% because my professional degree (psychology) is extremely underpaid and I am paid specifically for my face-to-face time with clients. Sad and frustrated.

[@humphrey]

this is household income so they may have a spouse for another income

[@filgaia1]

Oh, thank you for the clarification. That said I can't even get a date these days with how ridiculous dating apps have become with the extremely high standards. I am likely going to be alone forever. @@humphrey