Is your income in the top 1% in your state?

Is your income in the top 1% in your state?(Photo: GETTY IMAGES)Since 1979, the average inflation-adjusted income of the top 1% crowd has grown by 200.5%, according to research from the Economic Policy Institute. Has your income kept pace? Read on to see how much you need to earn to be in the top 1% in your state, and the one thing that could be more important than a high income to your future financial security.Between 2009 and 2013, the top 1% of income-earning Americans captured at least half of all income growth in 24 states, and as a result, it’s gotten more difficult to reach that top-income-earner status.Nationally, a family’s income has to be at least $389,436 to qualify as being in the top 1%; however, your annual earnings need to be significantly higher than that to achieve this status in 12 states.For instance, a family’s income needs to eclipse $659,979 in Connecticut to reach the top 1%, due in large part to the state being home to many high-paying insurance and hedge-fund jobs. If you live in Connecticut’s Bridgeport-Stamford-Norwalk area, then your income would have to be above the $1 million mark to be in the top 1%. Perhaps unsurprisingly, the average income of Connecticut’s top 1% income earners is a nation-leading $2.4 million.Achieving 1% status is also tough in New Jersey, New York and Massachusetts. In New Jersey and New York, your family income needs to be north of $547,737 and $517,557, respectively. In Massachusetts, you need to be pulling in $539,055 to call yourself part of the 1%.

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