Patrick Boyle On Finance Are You In The One Percent?
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Jan 15, 2024 This podcast discusses the income thresholds and lifestyles of the top 1%, challenges the research on income inequality, and explores global income trends and flaws in the analysis of income inequality.
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Global 1% Income Thresholds
- Earning $60,000 after tax places you in the top 1% income globally as an individual. Household income over $130,000 also qualifies for the top 1%.
Global Wealth 1% Cutoffs Vary
- Globally, having about $1 million net worth places you in the top 1%. The threshold varies from $20,000 in Kenya to $12 million plus in Monaco.
1% Demographics and Living Costs
- The top 1% are more likely married, have more children, and a higher education level than the general population. They predominantly live in high-cost areas and often view themselves as practically middle class.