What does it mean to be rich? Many people associate it with a specific dollar amount, like having an annual salary of $100,000. But an income of $100,000 can take you further in South Dakota than in California.
To understand what “rich” means in every state, we looked at what the annual income would need to be to put someone in the top 25% and top 10% of earners in that state, according to the Bureau of Labor Statistics.
Here’s what rich people need to know about life insurance.
Mississippi has the lowest threshold for the top 10%, at just $69,720. But you would need to earn at least $164,200 annually in Washington, D.C. to be in the top 10% of earners. That’s by far the highest threshold for the top 10% of earners in the U.S.
In 14 states, you would need an annual income of at least $100,000 to be in the top 10% of earners. Most states (34) require you to earn between $75,000 and $100,000 annually if you want to be in the state’s top 10%.
Here’s a breakdown for each state.
Alabama
Annual income needed to be in the top 25% of earners: $53,310
Annual income needed to be in the top 10% of earners: $79,630
Alaska
Annual income needed to be in the top 25% of earners: $73,460
Annual income needed to be in the top 10% of earners: $103,080
Arizona
Annual income needed to be in the top 25% of earners: $58,660
Annual income needed to be in the top 10% of earners: $90,730
Arkansas
Annual income needed to be in the top 25% of earners: $49,140
Annual income needed to be in the top 10% of earners: $73,310
California
Annual income needed to be in the top 25% of earners: $73,110
Annual income needed to be in the top 10% of earners: $117,590
Colorado
Annual income needed to be in the top 25% of earners: $67,570
Annual income needed to be in the top 10% of earners: $104,110
Connecticut
Annual income needed to be in the top 25% of earners: $75,060
Annual income needed to be in the top 10% of earners: $110,770
Delaware
Annual income needed to be in the top 25% of earners: $65,330
Annual income needed to be in the top 10% of earners: $100,550
District of Columbia
Annual income needed to be in the top 25% of earners: $117,820
Annual income needed to be in the top 10% of earners: $164,200
Florida
Annual income needed to be in the top 25% of earners: $54,450
Annual income needed to be in the top 10% of earners: $82,490
Georgia
Annual income needed to be in the top 25% of earners: $58,950
Annual income needed to be in the top 10% of earners: $92,480
Hawaii
Annual income needed to be in the top 25% of earners: $64,050
Annual income needed to be in the top 10% of earners: $96,270
Idaho
Annual income needed to be in the top 25% of earners: $52,580
Annual income needed to be in the top 10% of earners: $78,260
Illinois
Annual income needed to be in the top 25% of earners: $66,670
Annual income needed to be in the top 10% of earners: $101,170
Indiana
Annual income needed to be in the top 25% of earners: $54,530
Annual income needed to be in the top 10% of earners: $79,410
Iowa
Annual income needed to be in the top 25% of earners: $55,810
Annual income needed to be in the top 10% of earners: $80,040
Kansas
Annual income needed to be in the top 25% of earners: $54,970
Annual income needed to be in the top 10% of earners: $80,980
Kentucky
Annual income needed to be in the top 25% of earners: $52,470
Annual income needed to be in the top 10% of earners: $76,150
Louisiana
Annual income needed to be in the top 25% of earners: $52,620
Annual income needed to be in the top 10% of earners: $76,890
Maine
Annual income needed to be in the top 25% of earners: $55,640
Annual income needed to be in the top 10% of earners: $80,190
Maryland
Annual income needed to be in the top 25% of earners: $74,300
Annual income needed to be in the top 10% of earners: $115,230
Massachusetts
Annual income needed to be in the top 25% of earners: $78,870
Annual income needed to be in the top 10% of earners: $121,350
Michigan
Annual income needed to be in the top 25% of earners: $60,970
Annual income needed to be in the top 10% of earners: $91,320
Minnesota
Annual income needed to be in the top 25% of earners: $65,690
Annual income needed to be in the top 10% of earners: $98,270
Mississippi
Annual income needed to be in the top 25% of earners: $47,550
Annual income needed to be in the top 10% of earners: $69,720
Missouri
Annual income needed to be in the top 25% of earners: $56,480
Annual income needed to be in the top 10% of earners: $83,570
Montana
Annual income needed to be in the top 25% of earners: $53,250
Annual income needed to be in the top 10% of earners: $76,610
Nebraska
Annual income needed to be in the top 25% of earners: $56,420
Annual income needed to be in the top 10% of earners: $81,770
Nevada
Annual income needed to be in the top 25% of earners: $55,790
Annual income needed to be in the top 10% of earners: $83,360
New Hampshire
Annual income needed to be in the top 25% of earners: $62,590
Annual income needed to be in the top 10% of earners: $96,690
New Jersey
Annual income needed to be in the top 25% of earners: $72,700
Annual income needed to be in the top 10% of earners: $111,920
New Mexico
Annual income needed to be in the top 25% of earners: $55,510
Annual income needed to be in the top 10% of earners: $85,340
New York
Annual income needed to be in the top 25% of earners: $75,610
Annual income needed to be in the top 10% of earners: $119,950
North Carolina
Annual income needed to be in the top 25% of earners: $56,100
Annual income needed to be in the top 10% of earners: $86,970
North Dakota
Annual income needed to be in the top 25% of earners: $60,040
Annual income needed to be in the top 10% of earners: $83,530
Ohio
Annual income needed to be in the top 25% of earners: $59,100
Annual income needed to be in the top 10% of earners: $86,470
Oklahoma
Annual income needed to be in the top 25% of earners: $53,060
Annual income needed to be in the top 10% of earners: $79,510
Oregon
Annual income needed to be in the top 25% of earners: $62,850
Annual income needed to be in the top 10% of earners: $96,410
Pennsylvania
Annual income needed to be in the top 25% of earners: $61,050
Annual income needed to be in the top 10% of earners: $92,850
Rhode Island
Annual income needed to be in the top 25% of earners: $67,900
Annual income needed to be in the top 10% of earners: $100,110
South Carolina
Annual income needed to be in the top 25% of earners: $52,070
Annual income needed to be in the top 10% of earners: $77,740
South Dakota
Annual income needed to be in the top 25% of earners: $48,550
Annual income needed to be in the top 10% of earners: $70,610
Tennessee
Annual income needed to be in the top 25% of earners: $53,310
Annual income needed to be in the top 10% of earners: $79,360
Texas
Annual income needed to be in the top 25% of earners: $60,450
Annual income needed to be in the top 10% of earners: $93,670
Utah
Annual income needed to be in the top 25% of earners: $58,290
Annual income needed to be in the top 10% of earners: $87,930
Vermont
Annual income needed to be in the top 25% of earners: $59,520
Annual income needed to be in the top 10% of earners: $85,540
Virginia
Annual income needed to be in the top 25% of earners: $68,440
Annual income needed to be in the top 10% of earners: $110,140
Washington
Annual income needed to be in the top 25% of earners: $73,060
Annual income needed to be in the top 10% of earners: $110,400
West Virginia
Annual income needed to be in the top 25% of earners: $51,290
Annual income needed to be in the top 10% of earners: $75,710
Wisconsin
Annual income needed to be in the top 25% of earners: $57,700
Annual income needed to be in the top 10% of earners: $82,950
Wyoming
Annual income needed to be in the top 25% of earners: $60,770
Annual income needed to be in the top 10% of earners: $82,980
Want to be rich? Here are eight things that may be keeping you back.
Image: Kean Collection
Comment