Do USA realize that having an annual income of $155k places one in the top 10% of all

[clatoden99]

Do USA realize that having an annual income of $155k places one in the top 10% of all incomes in the US?
So, I read a question about someone wanting to live off of the interest from some multiple millions, and the answer was, basically, that they would likely earn about $150k (interest only) and then the answerer commented, "that's not that much."

I know compared to millions it's not much, but c'mon!

[rennigade]

mo money mo problems

[Nika]

If you want to live in NYC or San Francisco, 150, which, after taxes are taken out is 90, is not much, considering rent for your 2 br tiny apartment will be 7K a month. If you want to live in Vermont, I think it plenty.

I don't know what you are referring to though.

[phantom]

If you want to live in NYC or San Francisco, 150, which, after taxes are taken out is 90, is not much, considering rent for your 2 br tiny apartment will be 7K a month. If you want to live in Vermont, I think it plenty.

I don't know what you are referring to though.

I agree. It all depends on context. Where I live, $150k makes for a pretty comfortable life, especially when you're talking about living on that much, as opposed to earning that much and still needing to save. It's definitely a higher retirement income than I'm aiming for. But, for someone shooting for a higher standard of living than me and living in a more expensive part of the county, I can see it sounding like not that much relative to what one would like.

As someone whose household income is in the top 10% of US incomes, I don't find it particularly useful to think about being in the top 10% when thinking about my own finances. What matters to me is how my income enables me to reach my financial goals, not how many people have more income and how many people have less income.

Thinking about where one ranks relative to others can be useful when thinking about charity and public policy. It can also be useful for a person who is feeling discouraged but is actually doing relatively well. But, I don't see anything wrong with saying that a sum of money that would seem like a ton to some people, isn't a lot in a particular situation. But, maybe I'd feel differently seeing the post that set the OP off.

[Nutria]

Do USA realize that having an annual income of $155k places one in the top 10% of all incomes in the US?

Just to be clear: that's family income, not personal income.

[dawnwes]

I am well aware that we earn a very large living compared to most of the world.

And truly we are rich.

I have all of the following and never have to worry about:

Food on my table
A roof over my head
Transportation
Availability of health care
Safety (I don't live in a war torn country)
I have multiple items of clothing to choose from
Fresh water running directly into my house

So very much to be thankful for.

[TexasHusker]

I am well aware that we earn a very large living compared to most of the world.

And truly we are rich.

I have all of the following and never have to worry about:

Food on my table
A roof over my head
Transportation
Availability of health care
Safety (I don't live in a war torn country)
I have multiple items of clothing to choose from
Fresh water running directly into my house

So very much to be thankful for.

amen to that, my friend.

[LivingAlmostLarge]

Ditto dawn. And $150k depends on situation.

[sv2007]

mo money mo problems

more money = less problems
otherwise, everybody can just throw away the extra money