To be in the top 1% of earners in America, a household income of over $659,600 per year is needed.
Nearly half of US consumers earning over $100,000 are living paycheck to paycheck.
The two main levers George Kamel suggests for creating financial margin are:
This video explores income rankings in America, explaining that while income is a common metric, it's not the sole determinant of financial well-being. The speaker emphasizes that "financial margin" (the difference between income and spending) is a more crucial factor for building wealth. The video provides income benchmarks for various percentile ranks and discusses how cost of living and debt significantly impact one's financial situation. It offers strategies to increase financial margin by reducing expenses and increasing income.