How Much Income You Need to Crack America's Richest 1%
A new study used IRS data to determine what it takes to be among the wealthiest households in the US.
Photographer: Sanjit Das/Bloomberg
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It now takes more than $650,000 a year to be among the top 1% of wealthiest households in the US. And you need much more than that in Connecticut, New York and New Jersey.
That’s according to a new study from financial information provider SmartAsset, which ranked states by the income threshold required to join the ultra-wealthy. The firm found that households earning about $953,000 annually before taxes are in the top 1% in Connecticut, making it one of two states, along with Massachusetts, where it requires more than $900,000 to make the list.