Poll: Americans Feel “Rich” With an Income of $150,000 a Year

Under the past few years the question about who’s “rich” in the United States has been frequently discussed as the nation’s policymakers debate income-tax and deficit-reduction policies. During the Occupy Wall Street protests the attention has been focused on the wealthiest 1% of the Americans. This poll made by Gallup, Nov 28 - Dec 1 2011, suggests Americans would need quite a bit less than what the wealthiest 1% earn to consider themselves rich.

The annual income in the United States is a little bit higher now than it was in 2003 when Gallup asked the American citizens last time. Then the median was to consider themselves rich was $120,000 and now it’s $150,000.

In US the median annual household income is roughly $50,000 per year. The poll shows that people below this level need to earn $100,000 or more to think of themselves as rich. Those at or above the level consider $200,000 as the limit and this expands to $250,000 among those well above the US median income.

Through this poll Gallup also finds higher estimates of annual income needed to be rich among men, $150,000, than among women, $100,000. There are also higher for younger (18-49 years of age), $160,000 vs. older Americans (age 50 or older) $100,000. The median of what collage graduates wanted was twice as much as those who hadn’t graduated from collage, $200,000 vs. $100,000.

There was a separate question asked in Gallup’s poll, the question asked the Americans how much net worth, or savings in cash, real estate, and other investments they would need to consider themselves rich. The same answer came up as in 2003, $1 million.

26% of Americans say that $1 million in savings would make them feel rich, including 14% who say $5 million or more. But in the other end there’s 13% who would feel rich with less than $100 000 in savings.

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