A recent study by GOBankingRates examined the income thresholds required to be considered wealthy in every state, including NY, NJ and CT. Here's the full list.
What does it mean to be considered "rich"?The definition of "rich" can vary dramatically depending on where you live. Cost of living, tax structures and local economies all play a role in how much income is needed to be considered wealthy.JUMP TO: NEW JERSEY l CONNECTICUT l NEW YORKA recent study by GOBankingRates, a platform focused on personal finance, examined the income thresholds required to be considered wealthy in every state.
To be considered very high net worth, one might need assets ranging from $5 million to $10 million, while an ultra-high net worth status could require $30 million or more. These figures underscore the subjective nature of financial classifications across different thresholds of wealth.The amount you need to earn to be considered wealthy also varies depending on the metrics used. According to IRS standards, a monthly income of approximately $45,000 qualifies someone as wealthy.
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