There Is A 1% For Millennials And This Is How Much Money You Need To Make To Be A Part Of It
You’ve heard of the 1%. We’ve even posted a map before of what it takes to be considered a part of the 1% in each state. On some level, we all aspire to someday be a part of the nation’s top earners. Unless, of course, you’re some weirdo who hates nice things and preferential treatment.
For most people not named Zuckerberg, though, wealth takes years to amass and joining the 1% isn’t something most people normally do in their 20s, if ever. But what if we removed the rest of the population and focused only the wealthiest millennials? What would it take then to be a part of the 1%?
Luckily, a site called Fusion figured that our for us. So here’s what it takes for a person between the ages of 18- to 34 to be a part of the millennial 1%.
It takes an income of about $106,500 a year to be in the millennial one percent, according to data from the U.S. Census Bureau’s Current Population Survey. That’s a group of about 720,000 young adults, and they control about double the income of the 14 million millennials in the bottom 20 percent.
In fact, a huge portion of millennials—some 28 million out 70 million in total—aren’t enrolled in school and make less than $10,000 a year, the Census shows.
DAMN. I’m going to pretend/hope/assume that last statistic of 28 million millennials making less than $10,000 a year is a typo and just keep living in blissful ignorance.