 What's happening? It's Shane. And in today's video, we are going to be talking about how much money the top 1% of income earners make. And we're going to go over the top 1%, 5%, 10% here in the United States. And we're also going to talk about the top 1% globally, as well as the top 1% over all time periods. Right. So this is going to be a very interesting video. It's also going to give you some really good perspective on where the opportunity is in the world, and how lucky you might be. But with that being said, make sure to gently tap that like button, hit the subscribe button, and ring the notification bell. Let's go ahead and set the like goal for this video to 1000 likes. All right. So there is a ton of different studies, a ton of different articles on this, and basically the top 1% of income earners that ranged here in the United States from about $300,000 a year to over $700,000 a year. And the difference depended on whether they counted capital gains tax as well as income tax. And so for instance, you know, if somebody has a bunch of investments, but they're not working, or they're barely working, maybe they're just making like $50,000 a year from income, but they have a bunch of investments, they have millions of dollars investments. So they would be making hundreds of thousands of dollars a year from that. And many rich people, of course, don't actually work, they just make money from their investments. So that's something to keep in mind the way that they gathered the data was a little bit different. But overall, the range was about $300,000 a year to 700,000. So for instance, FinancialSamurai.com really good blog, they have the top 1% making $470,000 a year in 2021, whereas Investopedia, which is another really good source has the top 1% making $737,000 a year. So according to Financial Samurai, to be in the top 50%, you have to make over $35,000 a year in the top 25%. It would be $80,000 a year. To be in the top 10%, you would be making about $130,000 a year. And the top 5% would be $180,000 a year. And then in order to get into the top 1%, you'd have to make around $470,000. So that might be a little bit lower than you were expecting, you were probably expecting the top 1% to be like $2.5 million or something like that. But you know, a lot of doctors out there are making $470,000 a year easily. And so therefore, they're in the top 1%. Now, Investopedia, for the top 10%, it's $158,000 a year. The top 5% is 309,000. The top 1% is going to be 737,000. And then the top 0.1% is $2.8 million a year. Now, in terms of wealth, I think a lot of people have heard these statistics, but the top 1% actually owns more wealth than the bottom 50% of all Americans. And this wealth gap has been getting wider and wider every single year. And unfortunately, the whole situation in the world right now that happened made it even worse. However, the counter argument to that is if you look at statistics from the IRS, and you look at the AGI on federal income taxes, which stands for adjusted gross income, the top 1% only make 20% of the AGI. However, they pay 38% of the total amount of taxes. So you could say that they are paying more than their fair share. Now, with that being said, what you need to earn in order to be in the top 1% is going to vary greatly, depending on which state you're in. So for instance, according to USA Today, to be in the top 1% in Alabama, you only need to earn $390,000 per year. However, to be in the top 1% in Massachusetts, you would need to make $728,000 a year. So it really does vary greatly depending on what state you live in. And another thing to consider is some states are going to tax you a lot more than others. So even though you might be making $700,000 a year, if you live in a state that taxes you over 50%, you're only going to be keeping a small amount of that. Now, it gets even more interesting when you look at it on a worldwide basis. So for instance, according to the Economic Times, in order to be in the top 1% in the United States, you need about $488,000 per year. There are only two countries that are higher than that in the world. One of them is Singapore at $722,000 a year. And the other one is UAE at $922,000. One reason for this is likely because those two countries tend to have relatively low taxes. Interestingly enough, in a country like India, for instance, you only need to make $77,000 a year in order to be in the top 1%. So that really does put things into perspective. If you are in the top 10% in the United States, you are easily going to be in the top 1% in many, many parts of the world. Even if you're in the top 50% in the United States, you're likely going to be in the top 1% or very close to it. And also when they calculated this, yes, the dollars were adjusted for purchasing power disparity. It gets even more interesting when you look at things in a historical perspective. So it's estimated that the amount of humans that have ever lived is just north of $100 billion. It's about 109 to 117 billion humans that have ever lived. And throughout most of human history, almost all of them lived in what would absolutely be considered to be extreme poverty. They basically had to fight to survive on a day to day basis. There was no security, you'd be getting your food and that would last you for maybe a couple days at most, and then you would need to get more food or else you would starve and die. And the only people who were not in poverty were the ones who were like kings or rulers and that sort of thing who had others getting their food for them. And when I say poverty, I mean poverty by today's standards. Now currently there are 7.9 billion people in the world and it's estimated that about 15% of them live in what would be considered a first world country. So we'll estimate that out just to make it very simple. If you live in a first world country, which most people that watch this channel do, you are actually in the top 1% of human beings all time when it comes to how much you have earned, right? So there's definitely more opportunity in this particular time period that you're living in, especially if you live in a first world country than ever before in all of human history. And because of all this excess wealth that has been created in the last 100 to 200 years, you can see this reflected in the health of people as well. Not only are people not living in poverty, but the average lifespan has nearly doubled. So in 1900, the average life expectancy was about 31 to 32 years worldwide. And currently it's about 72 to 73 years old. And if you're in the United States, it's around 79 years old. So yeah, just a little bit of food for thought. Interesting statistics out there. I always try to keep things positive on this channel. I am an optimist. I'd say I'm more of like a realistic optimist, but I am an optimist. There's a lot of doomer stuff going on around in the world. People are very doom and gloom. All the markets are going to collapse, you know, this and that. And you know, bad things are going to happen. But I think that the world in general has been on a positive trajectory for the last few hundred years. And I think that is a great thing. But with that being said, check out my other videos right here. I made them just for you. Go ahead, gently tap that like button, hit the subscribe button, ring the notification bell and comment down below any thoughts, comments, criticisms, et cetera that you have on the video. And I will see you next time.