A recent Gallup poll has revealed that Americans need an annual income of $150,000 to feel rich.
The Gallup poll question was “Just thinking about your own situation, how much money per year would you need to make in order to consider yourself rich?”
The median income from the telephone poll was $150,000, but 30 percent said less than $100,000 would be more than enough. Roughly four percent needed to earn $1 million or more to feel rich.
Americans’ perceptions on income has changed since the last poll in 2003. The average income Americans needed then to feel rich was $120,000.
In a different question about how much in net worth, or savings, one would need to be rich, one would need $1 million. This result was the same in the 2003 poll.
Gallup said the results showed that most Americans needed a lot less than what the wealthiest 1% of Americans earn to call themselves rich.
Women’s median threshold to consider themselves rich is $100,000 versus men’s $150,000. Respondents between 18 and 49 had a median of $160,000 income, while those older than 50 feel they need $100,000.
The current median annual household income in the US is around $50,000 a year.
The Gallup survey was conducted from Nov. 28 to Dec. 1 with 1,012 adults who were 18 years or older.