Earning US$100,000 in the United States a few years ago was a big milestone for anyone. However, over the years and inflation, this stopped being the case. The amount you must earn to feel financially secure is much higher and to be rich, even more so.
Wealth varies by state in the United States
Specialists assure that there are different thresholds of wealth depending on the state in which they reside. Even the definition of rich can vary drastically depending on where you live, the cost of living, local economies, and taxes paid.
For example, in New Jersey you must earn at least US$180,000 to be on the threshold of those who earn the most. At the other extreme is Mississippi, which requires a much lower income to be among those who earn the most, around US$101,477 per month, according to data from the Internal Revenue Service (IRS).
Financial advisor Christopher Stroup spoke with Business Insider and estimated that You would need an annual income of between US$250,000 and US$300,000 to feel that your finances are “stable”. Only then would it allow you to “make significant progress toward your savings goals and have enough money to enjoy life.”
Finally, He assured that to feel rich he would need between US$400,000 and US$500,000 year. Only with that level of income could you reach your savings goals, enjoy life and have some extra money in the current economic context.
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