If you earn $32,400/year, you are in the top 1%

[FreeJoe]

That's according to this website:
http://www.globalrichlist.com/#na

Don't know how accurate it is. The concept behind it is to compare your income with everyone else in the world.

In terms of net worth, it says that you need about $770,000 in assets to be in the top 1%.

Note: This post should not be construed as an endorsement of the globalrichlist website or the believe.in charity that it promotes. It is just a calculator that I stumbled across following a discussion of wealth on a financial site.

[hobbit709]

1. Worldwide maybe. In relation to this country, not even close.

[louis-t]

2. Top 1% of people starving to death?

[2pooped2pop]

3. pretty close to poverty level in this country isn't it? n/t

[TheMathieu]

4. Thinly veiled attempt by that website to make us feel good about our crumbs.

The real story is the latest Oxfam report.

[reformist2]

6. +1. Nice try, Repugs. Wealth distribution is coming.

[SomethingFishy]

5. Yeah and if you make that little in the US

You are more than likely one paycheck or one illness away from jumping to the bottom 1%.

[LordGlenconner]

9. Depends on where you live

In Northern California that kind of money buys you a cardboard box under a bridge. In Kansas it gets you a modest but fairly nice apartment or home.

This is of course if you don't have kids etc. and don't mind living in Kansas.

[B Calm]

7. Propaganda designed to get people to vote against their

own best interests.

[notadmblnd]

8. When was the discussion of who the top 1% are broaden to world wide?

Most of the conversations that I heard or been involved in has been limited to this country?

The argument as I've always heard it it that; the top one percent in this country possesses 48% of this country's assets.

[LuvNewcastle]

10. This is silly.

People in poorer countries don't have to deal with the cost-of-living in the USA. My income (below the poverty level here) would allow me to live like a rock star in a country where the COL is $1 a day, and even a healthy income in many countries would leave a person homeless in this country. So these comparisons are essentially worthless.

[muriel_volestrangler]

13. it allows for that:

How do you calculate all of this?

We've offered two possible rankings – by income and by wealth. This requires a slightly different approach for each track; we've also tried to achieve the right balance between usability and rigour.

For the income track, we've used the most recent (2008) statistics from the World Bank, based on household surveys. Here we rank you against the entire world population at the time of the surveys, estimated at 6.69 billion people.

For the wealth track, we’ve primarily relied on 2012 estimates from Credit Suisse, who have focussed on the adult population of the world, estimated as 4.59 billion people.

For currency conversion we use Purchasing Power Parity Dollars (PPP$) in order to take into account the difference in cost of living between countries; PPP$ are also less susceptible to short term fluctuations.

Having said that, I'm surprised that $770,000 is needed to get into the top 1% of wealth, while $32,400 gets you into the top 1% of income - I'd have expected lower wealth and higher income, so I am goign to check against their sources.

[one_voice]

11. Top 1% of what?

Poverty?

[Make7]

12. The worldwide median income is $1,300 per year (according to that site). n/t

[Warpy]

14. They need to factor in purchasing power and local cost of living

It's why that $32,400 is a thrifty wage in the US but quite generous through most of the developing world. It's even a decent wage in countries like Portugal and Ecuador.