The 1%

Baby, You're a Rich Man

Overall, the top 1% of U.S. households have a net worth above $6.8 million or at least $521,000 in income, according to data from the Federal Reserve and the Tax Policy Center in Washington. The cutoffs for the top 5% are $1.9 million in net worth, or $209,000 in income.

Needless to say, these national figures obscure large geographic differences. A prince of income in Danville, Va., is a relative pauper in New York City. 

In Danville, the threshold for the top 1% of earners kicked in at $179,000, while it took $588,000 to reach the top 1% in New York City and northern New Jersey, according to an analysis by The Wall Street Journal of U.S. Census Bureau data from 2007 to 2009 collected by the University of Minnesota Population Center.

The income threshold for the top 1% falls midway between Danville and New York in places like Raleigh-Durham, N.C.; Atlanta; Rochester, N.Y.; Miami; San Luis Obispo, Calif.; and Peoria, Ill.
Comment: Image source. Interesting article. Read for definition of the "ultra rich". I don't think we have any relatives who are 1% but probably 2 who are in the 5%

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