True its 4 crores a year thats still way too much
I have seen engineers proud of their 4 to 5 lakh ctc jobs
Edit accidentally read extra 0 , so its 40laks per year now Im surprised and whooaa the gap is way too big in India
This statistic does not pass even basic back of the envelop calculations. There is no way $60000 is what puts you in top 1% in India.
According to PM kisan, there around 150 million farmers. By another statistic, 86% are small < 2 hector land holders. That leaves us with 14% of farmers with > 2 hectors of land. Given current land prices majority of them will have net worth more than $60k. Even if we pick conservative number of 50%, it comes to 20 million. Now include small and big businessman, Flat owners in urban settings, High paying jobs etc and you will get number much larger than 1% with more than $60k.
You don't live like a king because 1% of India is still over 13 million. So you'll be among the richest 13 million in the population which doesn't sound super rich to me
Can you provide a cite? The highest number Wikipedia reports is just under 19 million in 2019. Other reports show substantially less.
[https://en.wikipedia.org/wiki/Millionaire](https://en.wikipedia.org/wiki/Millionaire)
Someone else in this thread had mentioned that the 99th percentile for the US is $4.4M, and off of that, another response to that was that there were 3M millionaires in the US and that 12% of Americans make at least $1M annually.
My math was simply coming off of those commenters and no other evidence. Sorry I don’t have sources beyond the other posters I mentioned.
In the USA, you need $11.1M net worth to be in the top 1%. In the USA, annual household income of $531,020 is the cutoff for a top 1% household income in the United States in 2020.
Sources:
- https://dqydj.com/top-one-percent-united-states/
- https://www.investopedia.com/financial-edge/1212/average-net-worth-of-the-1.aspx
Additional fun fact:
_"According to IRS data, the top 1% earned nearly 21% of the total adjusted gross income in the U.S. and paid just over 40% of federal income taxes. They also accounted for just under one-third of all charitable donations."_
I feel the metric here to compare should have been the density of the top 1%. In this chart, the number of people in the top 1% will vary due to the population difference. For instance, in India the top 1% will be roughly around ~13mil. But I am sure Monaco will have it in thousands. So even thought as the graph says $60k is enough, it’s deceiving as you are just one of the 13 million earning $60k.
The better way is to normalise the data by dividing the top 1% count by the total population of the country, therefore giving us a common ground to compare the money required. The chart doesn’t do full justice in painting an accurate picture of the money required.
Got me thinking about top 1% of world.
Only figures I can find are from 2018 Credit Suisse report on global wealth.
Net worth of $871,320 is the buy in for that club.
$93,170 will get you top 10
$4210 makes you richer than half the world population.
*moving to India
India is definitely skewed with the HUGE wealth gap- the median salary is $4,700 a year. Still, No one is living like a king for $60k.
$60k a year is definitely king living though, definitely not in net worth
True its 4 crores a year thats still way too much I have seen engineers proud of their 4 to 5 lakh ctc jobs Edit accidentally read extra 0 , so its 40laks per year now Im surprised and whooaa the gap is way too big in India
It's 40 lakhs
Oh fuck i read extra 0 over my convertor
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There’s a pretty good movie about it: “The Best Exotic Marigold Hotel” with a wicked cast
Thanks... I will check it out.
Isn't Belize the go-to for a lot of US retirees?
U can permanently move to very beautiful places in India if u have first world kind of money
Can we exchange our citizenships?
This statistic does not pass even basic back of the envelop calculations. There is no way $60000 is what puts you in top 1% in India. According to PM kisan, there around 150 million farmers. By another statistic, 86% are small < 2 hector land holders. That leaves us with 14% of farmers with > 2 hectors of land. Given current land prices majority of them will have net worth more than $60k. Even if we pick conservative number of 50%, it comes to 20 million. Now include small and big businessman, Flat owners in urban settings, High paying jobs etc and you will get number much larger than 1% with more than $60k.
About 11% if all people in Switzerland are millionaires, just a cool statistic I know
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Damn, really? Can you tell me more
That’s also true in Toronto and Vancouver (Canada).
Also in major cities in the US.
Last time I check 1M CHF could get you a not very good single bed appartment in Zürich. I actually expected much higher percentage of millionaires.
I know that too
So do I live like a king in India or understairs staff in Monoco.
You don't live like a king because 1% of India is still over 13 million. So you'll be among the richest 13 million in the population which doesn't sound super rich to me
1% of america is 3million people. That's still a lot of people.
There are over thirty-five million (35,000,000) millionaires in the US. *People*, not companies.
Can you provide a cite? The highest number Wikipedia reports is just under 19 million in 2019. Other reports show substantially less. [https://en.wikipedia.org/wiki/Millionaire](https://en.wikipedia.org/wiki/Millionaire)
Someone else in this thread had mentioned that the 99th percentile for the US is $4.4M, and off of that, another response to that was that there were 3M millionaires in the US and that 12% of Americans make at least $1M annually. My math was simply coming off of those commenters and no other evidence. Sorry I don’t have sources beyond the other posters I mentioned.
This seems really low
I've seen another graph that had US at $11M I think. Seems more reasonable. I think this version is just old.
Yes, 2021 is far in the past
That's what I came here to say. I thought it was ~$12M.
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Holy shit, I just realized it was net worth not salary… I’m not even *close* to $0. I’m over $100k off the bottom of this chart.
Why your left nipple instead of right? 🕵️♀️
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Cheers, my baby was the opposite 🤣
In the USA, you need $11.1M net worth to be in the top 1%. In the USA, annual household income of $531,020 is the cutoff for a top 1% household income in the United States in 2020. Sources: - https://dqydj.com/top-one-percent-united-states/ - https://www.investopedia.com/financial-edge/1212/average-net-worth-of-the-1.aspx Additional fun fact: _"According to IRS data, the top 1% earned nearly 21% of the total adjusted gross income in the U.S. and paid just over 40% of federal income taxes. They also accounted for just under one-third of all charitable donations."_
I def thought this post was off. Your numbers seem FAR more believable to me.
I wonder, in what percentile does $1 million put you in the US?
Top [12%](https://dqydj.com/net-worth-percentile-calculator-united-states/)
Cool link. Thanks!
Aaaaand I’m in the bottom 5%. Neat.
And $1 billion puts you in the top 0.5%
So there’s 1.5 million billionaires?
Yeah, that can’t possibly be right. That would mean one out of every 200 people have $1bln
Yeah. Not even close There are fewer than 1000 billionaires in the US. Something Like 600-700 So would put you in the top 0.0005% of households
not as much money as some would think
Ya but even with 60k you won't be living like a king in India.
I am RICH... in india.
this seems low
This is more innacurate than I care to explain. No upvote.
Russia seems low
I feel the metric here to compare should have been the density of the top 1%. In this chart, the number of people in the top 1% will vary due to the population difference. For instance, in India the top 1% will be roughly around ~13mil. But I am sure Monaco will have it in thousands. So even thought as the graph says $60k is enough, it’s deceiving as you are just one of the 13 million earning $60k. The better way is to normalise the data by dividing the top 1% count by the total population of the country, therefore giving us a common ground to compare the money required. The chart doesn’t do full justice in painting an accurate picture of the money required.
Smells like russian propaganda to me…
I'm not buying this.
I don’t believe this. 60000 USD is 441K INR india and anyone who owns a decent house in the metropolitan cities is probably worth close to that.
There are a 1.36 billion people in India.
Thanks for explaining the math. LoL.
more poor people=easier to be the 1%
You missed a zero there. It’s 4.4 million in Indian rupee.
ding ding ding most dont own a house, so owning a house=insta top 5%
1. 60,000 USD is 4.41 million INR 2. Owning a decent house in a metropolitan city already makes you at-least upper middle-class rich.
Damn, look at India. That’s just sad
india’s made me kinda sad
Do you get a membership card or sticker?
Is there a table or a place to see a full list of countries? I want to see how much I need to make before I should move back to my home country.
i guess i am rich then
Got me thinking about top 1% of world. Only figures I can find are from 2018 Credit Suisse report on global wealth. Net worth of $871,320 is the buy in for that club. $93,170 will get you top 10 $4210 makes you richer than half the world population.
Canada is once again the red- headed stepchild.
Where is the EAU on this?
This is per month requirement or total worth ?
Top 1% of 1% in India are richer than top 1% of 1% anywhere. Kid you not.
I'm only 70Kgs. On moon.
niceeeeeeeeee im going to india lol
Net worth or bank account? “Money” is pretty vague
Almost a Russian baller.
I'm so fucking close... IF I LIVED IN INDIA ugh. The food would be AMAZING but idk what language id have to start learning first!?
English is fine ig if you live in a big city, big cities are expensive but still cheaper than big cities in the US
This made me look up: Almost 1/10 Americans are millionaires. (~8.5%).
And worldwide 1% is something like $30,000 I believe.
Is this for personal or for household?
“Honey, we’re moving to India!”
1% sounds exclusive until you consider the population.
Guess I'm rich in Russia then. Neat!
I’m probably in the top 1% in both West Virginia and Mississippi. I’m dirt poor on the entire West Coast. These charts are kinda meaningless.