Where Do You Stand on America's Wealth Spectrum?

[Zywiec]

The best way to give people a sense of where they stand is to lay out some data. Every three years the Federal Reserve Board conducts a national survey that tracks the financial health of American households.

The Fed slices and dices this stuff with the vigor of an Iron Chef; the result is a rich, if dry, array of offerings on household net worth, pension and income levels, plus other demographic side dishes.

Whenever I slip these tidbits into cocktail party chatter, people are surprised to realize how little money it takes to win a gold star from the Fed. If you and yours are bringing in $40,000 a year, you're doing better than half the households in America.

Or, as a Washington think tank recently pointed out: If you're a teacher married to a policeman, your combined household income puts you in the top 25 percent of all households in the nation.

-snip-

Annual income parking ramp
Income level (percentile) Median income (rounded)
Level VI (90 to 100) $170,000
Level V (80 to 89.9) $99,000
Level IV (60 to 79.9) $65,000
Level III (40 to 59.9) $40,000
Level II (20 to 39.9) $24,000
Level I (less than 20) $10,000

-snip-


We live in a country that once celebrated itself as egalitarian, yet 1 percent of the population -- nearly 3 million people -- currently has as much money as the 100 million people at the bottom of the ramp.



http://finance.yahoo.com/banking-budgeting/article/103815/Where-Do-You-Stand-on-America's-Wealth-Spectrum

[Ghost in the Machine]

1. In the sub basement...

below level 1 ... like Level B-3

:hi:

[AngryAmish]

2. Last year Level I, this year Level VI

My income varies year to year. Nature of my job.

[slackmaster]

16. Aren't Estimated Tax payments fun?

The first year in which I made a huge jump in levels like that happened to be the last year that Income Averaging was available.

[AngryAmish]

19. It sucks, but what are you going to do?

[mainegreen]

3. IV, and it can be suprisingly tough at that 'level'

I have no idea how so many people cope.

[liberal N proud]

4. I don't know how many American manage

I am in Level IV bordering V and it feels like a struggle.
I need to replace an aging vehicle and day to day expenses just keep eating up the budget.

[Skidmore]

5. We went from upper III to lower II very rapidly over the last

couple of years after I lost my job and was treated for cancer.

[MindPilot]

6. That can't be anywhere close to accurate

I worry about being able to make the mortgage each month, drive a ten-year-old car, no kids or family to support and have very very little of what they call "disposable income". Yet according to this I'm in the the top 20%?! Nope, that ain't right.

[unpossibles]

10. sadly, it can

because the top 1-5% are throwing the curve so to speak. You can make more than 80% of America and still be struggling thanks to the magic of the current American economy. In other words, the majority of us are getting hosed hard by the crooks in power.

[Le Taz Hot]

7. We went from Level VI

to Level II in about 3 years. We've managed to work back up to a IV and we're barely hanging on in CA.

[slackmaster]

15. Yup, Level IV in California is not what it would be in most places

:argh:

[sutz12]

8. Thus the never ending obfuscation about wealth and income continues

:shrug:

[AllegroRondo]

9. another interesting fact

I dont remember where I got it, so take it with a grain of salt...

If you were to take all people who earn an income in a given year and rank them by how much they made, the top 100 people together earn about the same in one year as the bottom 50%.

[semillama]

11. I'm in level III

but when you take debt payments into account, I'm living at a stage II. That's why it seems so misleading, I think. You can be pulling in a good salary but if you are carrying a lot of debt, it won't seem like it.

[Breeze54]

12. None of your business...

Just sayin' ...

[Kermitt Gribble]

13. Interesting.

I've hovered between level II and level I my whole adult life. I finally decided to work on finishing college 2 years ago, so hopefully will be able to climb up a few rungs.

edit: the link to Yahoo says page not found

[Zywiec]

18. Updated Link

Sorry, Yahoo must have moved the page

http://biz.yahoo.com/brn/071101/23658.html?.v=1

[slackmaster]

14. Level IV a.k.a. "Chronically Sub-Rich"

Apologies to the Firesign Theatre.

Shoes for Industry.

[dysfunctional press]

17. IV.

[Zywiec]

20. kick

[kineneb]

21. below level II, closer to level I

a member of the "genteel poor," who were formerly almost middle class ($44K in CA)... due to job loss and medical expenses...

[Greyhound]

22. 6 years ago I was high level V by my self, today Ms, Greyhound & I combined sub-III.

Thanks Bill, you fucking asshole.

[seabeyond]

23. $40,000 a year, you're doing better than half the households in America

wow. we are doing fine and better than well over half. tis sad

[Greyhound]

24. Kick, hoping to keep the realization up front. n/t

[leftofthedial]

25. Level I

last year--Level I

year before--Level I

year before that--Level VI

LOL

[donheld]

26. I is po nt

[Zhade]

27. I make 50k a year... and can't afford to buy food this week.

I have no savings, and NOT due to a lavish lifestyle.

I have no idea how people on slave-wage (minimum) survive.