What does the top 1 percent do for a living?

The top 1% of earners hold high-paying roles, primarily in finance (investment banking, hedge funds, private equity), medicine (specialists, surgeons, doctors), law (partners in large firms), tech (executives, entrepreneurs, top engineers with equity), executive management, and successful small business ownership, leveraging specialized skills, revenue generation, or high-stakes responsibility to achieve extraordinary incomes.

What do the top 1% of people make?

To be in the top 1% of income earners in the U.S., you generally need a household income of around $730,000 to over $1 million annually, depending heavily on the state, with high-cost areas like Connecticut, Massachusetts, and California requiring the most, while states like West Virginia have lower thresholds, but these numbers are always changing with economic growth and data updates.
 

What jobs do the top 1 percent have?

That said, the very highest-earning people are in finance and law. The top 1% in finance earn over $2m per year. Since finance makes up 0.9% of the workforce of 160 million, that's well over 10,000 people.

What percent of 35 year olds are millionaires?

Very few 35-year-olds are millionaires, with estimates suggesting around 1% of households under 35 having millionaire status, though this rises significantly for older age groups, with 30-39 year olds seeing about 5% of households as millionaires, and most reaching that milestone later in life, often in their 50s and 60s. For those 35-44, the median net worth is much lower (around $135,000), but still growing, indicating that while rare at 35, wealth accumulation is a long-term trend. 

Where do the top 1% of Americans live?

These very high-income households are disproportionately metropolitan. While about 85 percent of all income tax filers have metropolitan addresses, about 93 percent of the very rich live in metropolitan areas.

What the Top 1% Actually Do for a Living

How many people in the US make $500,000 a year?

Over a million Americans earn $500,000 or more annually, with estimates from late 2024/early 2025 suggesting around 1.5 million people fall into this high-income bracket, representing roughly 0.9% of workers, though this varies by location, with high concentrations in tech hubs like the San Francisco Bay Area. This is a much smaller percentage than many people perceive, with studies showing a common overestimation of how many people earn such high incomes. 

What are common traits of the top 1%?

Drive and Determination. Drive and determination are the engines behind sustained effort and goal achievement. Professionals who demonstrate these traits are relentless in their pursuit of excellence, often going above and beyond to meet and surpass their objectives.

How many Americans have $2 million in the bank?

Only about 1.8% of U.S. households have $2 million or more in retirement savings, a figure from the Employee Benefit Research Institute (EBRI) using Federal Reserve data (2022 Survey of Consumer Finances). This places them in a very small minority, with even fewer (0.8%) reaching $3 million in retirement funds, highlighting that significant wealth accumulation for retirement is rare for most Americans. 

Is 100k saved at 33 good?

Kevin O' Leary Says By 33, You Should Have $100,000 Saved 'Somewhere' — 'That's the Age When it's Really Time to Start Getting Focused'

Who owns 90% of America's wealth?

The top 10% own 87.2%, and the bottom half owned 1.1%. Corporate equities and real estate facilitated the accumulation of wealth for baby boomers. In 2024, the Silent Generation and baby boomers represented 25% of the population, but held 65% of all wealth in the US.

What job pays $400,000 a year without a degree?

Jobs that can pay $400K a year without a degree include commercial real estate brokers, successful YouTubers or influencers, self-employed software developers, high-stakes sales roles like enterprise tech sales, and business owners. These roles rely on skill, market demand, and performance rather than formal education.

What occupation do most millionaires have?

Most millionaires come from professions like Engineering, Accounting, Management, Law, and Teaching, often building wealth through consistent planning and saving, not just high salaries, with many not even earning six figures annually; other top paths include Finance, Healthcare (Doctors/Surgeons), Tech (Software), and Entrepreneurship, focusing on creating businesses or managing investments, says Ramsey Solutions, Indeed.com, and Forbes.

What profession makes $300,000 a year?

Jobs with high earning potential around 300,000 per year often include specialized medical professionals, senior executives, experienced legal practitioners, and technology leaders.

How many Americans make $200,000 a year?

Around 14-16% of U.S. households earn $200,000 or more annually, which translates to roughly 15-20 million households, while for individuals, $200k puts you in the top 5% of earners, with data suggesting roughly 10-12% of households are above this mark, showing it's a significant income bracket but still well above the median household earnings. 

What is a good net worth at retirement?

A good retirement net worth varies, but common rules suggest saving 10 times your final salary by age 67, or having enough for 25 times your estimated annual retirement expenses, often aiming for 80-90% of pre-retirement income, while specific benchmarks are around 10x salary by 60-67 and 25x expenses by retirement. Factors like lifestyle, location, and other income (Social Security) greatly influence the "magic number," with many needing $1.5M to $2M+ for a comfortable retirement, but benchmarks depend heavily on your income level and marital status, notes T. Rowe Price. 

What are the 5 wealth classes?

The concept of "5 wealth classes" often refers to a breakdown of U.S. households by net worth, typically categorizing them as the Bottom 25%, Lower Middle Class, Upper Middle Class, Upper Class (top 25%), and the Wealthiest 10%, with defined net worth ranges for each tier, according to financial reports like those from MarketWatch. Another perspective defines wealth more broadly across five dimensions: Financial, Social, Time, Physical (Health), and Spiritual wealth, focusing on overall life quality beyond just money. 

Can I retire at 62 with $400,000 in 401k?

You can retire at 62 with $400k if you can live off $30,200 annually, not including Social Security Benefits, which you are eligible for now or later.

What is the $27.39 rule?

The $27.40 rule is a simple way to think about how to save $10,000 in a year. It suggests saving $27.50 of your income daily, which adds up to $10K annually ($27.40 x 365 days = $10,001).

How many Americans have $500,000 in 401k?

While exact real-time numbers vary, recent data shows roughly 4% to 9% of American households have $500,000 or more in retirement savings (including 401(k)s and IRAs), with some reports placing it closer to 4% for $500k-$999k, and around 9% for $500k+ across all retirement accounts, meaning millions of Americans have achieved this significant milestone, though it's still a minority of savers. 

Can you live off interest of 2 million dollars?

Yes, you can likely live off the interest of $2 million, but it depends heavily on your lifestyle, expenses, location (cost of living), and investment strategy, with returns potentially generating $60,000 to $100,000+ annually at conservative rates (4-5%), which can be enough for a comfortable living in lower cost-of-living areas, but requires careful management of taxes, inflation, and market volatility. 

How much does the average 70 year old have in savings?

The Federal Reserve also measures median and mean (average) savings across other types of financial assets. According to the data, the average 70-year-old has approximately: $60,000 in transaction accounts (including checking and savings) $127,000 in certificate of deposit (CD) accounts.

What is the most powerful personality trait?

Developing powerful personality traits

1. Optimism. Optimism is conducive to being able to face challenges and successfully overcome obstacles. ...
2. Respect. Treat others with respect. ...
3. Confidence. Powerful people are confident. ...
4. Self-discipline. Powerful people have self-discipline. ...
5. Work ethic. ...
6. Self-control. ...
7. Accountability. ...
8. Enthusiasm.

What is the #1 key to success?

The number 1 rule for success: SHOW UP! This means showing up, being present, and not giving up easily. It might sound basic, but it's really powerful. Imagine you're in a game.

How many people in the US make $500,000 a year?

Over a million Americans earn $500,000 or more annually, with estimates from late 2024/early 2025 suggesting around 1.5 million people fall into this high-income bracket, representing roughly 0.9% of workers, though this varies by location, with high concentrations in tech hubs like the San Francisco Bay Area. This is a much smaller percentage than many people perceive, with studies showing a common overestimation of how many people earn such high incomes.