The Income Threshold for America's Top 1% Revealed

A new study by SmartAsset reveals that to be part of America's 1 percent, individuals need to earn at least $650,000 per year. However, the threshold varies across states, with Connecticut having the highest requirement at $952,902, followed by Massachusetts at $903,401. Surprisingly, New York ranks sixth with a minimum income of $776,662. On the other end of the spectrum, West Virginia has the lowest threshold at $367,582. Overall, the top 1 percent of households in the U.S. hold over a third of the country's wealth.