Are You in the World's Top 1%?

The exclusive club we refer to as the “top 1%” in global income includes millions of Americans.

Several years ago, the "Occupy" movement spotlighted income inequality around the globe. While the protestors have since retreated from Wall Street and other economic power centers, this pressing issue still lingers on. In fact, economic disparity is on the climb, with 1% of the world’s population currently holding over 44% of household wealth.

Interestingly, Americans do not have to be extremely wealthy, in order to claim a spot among that 1%. A $32,400 annual income will easily place American school teachers, registered nurses, and other modestly-salaried individuals, among the global 1% of earners.

Contrarily, the top 1% of wage earners strictly in the United States must pull in at least $421,926 to make the cut.

To reach the top 1% worldwide in terms of wealth—not just income but all you own—you’d have to possess $744,400 in net worth.

Ranking According to Wealth

One must have upwards of $744,400 in combined income, investments, and personal assets to hit the top 1% of the world’s wealthiest individuals.

While Americans rank fourth in household wages worldwide, they rank 22nd in median wealth, according to the Credit Suisse Global Wealth Databook. This disparity is largely due to the fact that Americans rely on credit more than individuals from other countries, as evidenced by the fact that the average U.S. citizen harbors more than $60,000 in debt.

Even so, many middle-class Americans who have spent years paying down their mortgages and saving for retirement belong to the upper echelon of the world's wealthy.