How Much Money Do You Need To Be Part Of The 1% In Kalamazoo?
There's a lot of talk these days about income inequality...The haves and the have nots...The upper class and the lower class. A While back there was a study about how much you'd have to make annually to be considered "rich" in Michigan and I was astounded at how low the salary was. The formula was median income so, as it turned out, Michigan was the easiest state to be considered rich. You can get details on that below.
So how about the amount of money to be considered in the 1% in Michigan. According to an article on msn.com, the average income of the 1% is $917,701. But that's the average so the minimum amount to be considered one of the 1% is $328,649! Really? That's all? I'm certainly not in that neighborhood but, again, I thought it would be more. I guess we have to factor in the Michigan "condition" just like what salary makes you feel rich. On the other hand, Michigan ranks as the 36th highest in this study so we're not last. check out what it takes in other states by clicking HERE.