Top 1% income is around $360k. Top 1% wealth is around $11M. $360k+ is common here in Blinder community, but the NW we are sharing is far from the 1% number! Why there is such a huge gap here? some quick ideas are 1) many more do not need to be employed and work to build wealth, but through business, 2) similar to 1, but specifically investment. You do not be excellent in your work area to invest smart, but any one with idle money can make smart investment 3) after building wealth, many chose to retire thus drop in TC, 4) inheritance, or wealthy family comes down to subpar offspring Need your smart advice! Blind tax: TC $500k, YOE 4 #personalfinance #investments #tech #swe References: 1. Income percentile 328k for top 1% income in 2019, 360k for 2020 https://dqydj.com/average-median-top-individual-income-percentiles/ 2. Family income percentile 531k for top 1% family income in 2020 https://dqydj.com/household-income-percentile-calculator/
How did you pass google interview if you are questioning this?
That's why I can only make TC but not wealth, bro, thus this post. BTW, what's your TC/YOE/NW?
Sorry, what's your TC?
My bad, updated
Simple….we are mostly millennials, need more time to build the NW
Very true. Wealth management and growth is harder than making money.
I give my parents money. 11m/360k = 30 years (more with tax). Not sure what you want from us.
I think the blind community is also young and in the earlier stages of wealth building, the top 1% of wealth tend to be older and nearer the end of their wealth building journey. Exceptions on both sides, but time is one of the key ingredients to wealth building.
Most 1% nw is probably generational wealth.
According to dqydj, 531k was the threshold to be in top 1% of income in 2019 (year says 2020, but they were looking at 2019 data) I'd assume the figure would be higher if they factored in unrealized capital gains
What's the source? Are we looking at the same source? Here is the webpage showing 320k for 1% in 2019, and 360k for 1% 2020 https://dqydj.com/average-median-top-individual-income-percentiles/
You are comparing household NW vs individual income 531k income is top 1% for a household in 2019
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