How many Americans can call themselves wealthy? Not many.
According to a recent report from the Federal Reserve Bank of St. Louis' Institute for Economic Equality, the top 10% of wealthy households will hold an average of $6.5 million, accounting for 67% of total household wealth, as of the third quarter of 2023. In contrast, the bottom 50% of households will hold $50,000, accounting for just 3% of total household wealth.
Read next: How to make $750 a week in passive income
Read more: 6 Unusual Ways to Make Money (That Actually Work)
With the rich getting richer and the poor getting poorer, America is far from a place where everyone can achieve their dreams. It's becoming harder for the middle class to even stay afloat, much less manage bills and other expenses. But how does your standard of living compare to those of people around the world?
Here's how much you need to earn to be considered wealthy in 30 countries.
Australia
-
Annual pre-tax income is within 1%: $284,981
-
Annual pre-tax income in the top 10%: $125,021
Attention: 29 Best Games That Pay Real Money in 2024
Let's find out: How to get $340 in cash back per year on gas and things you've already bought
Wealthy people know the best financial secrets. Learn how to replicate them.
Bangladesh
-
Annual pre-tax income is within 1%: $55,378
-
Annual pre-tax income in the top 10%: $17,954
For You: Tony Robbins: 10 Passive Income Ideas to Build Wealth
Brazil
-
Annual pre-tax income is within 1%: $221,352
-
Annual pre-tax income in the top 10%: $45,137
Canada
-
Annual pre-tax income is within 1%: $305,578
-
Annual pre-tax income in the top 10%: $119,544
China
-
Annual pre-tax income is within 1%: $166,057
-
Annual pre-tax income in the top 10%: $52,786
Democratic Republic of the Congo
-
Annual pre-tax income is within 1%: $57,055
-
Annual pre-tax income in the top 10%: $10,114
Read more: Barbara Corcoran's 5 Ideas for Generating Passive Income
Egypt
-
Annual pre-tax income is within 1%: $200,647
-
Annual pre-tax income in the top 10%: $48,644
Ethiopia
-
Annual pre-tax income is within 1%: $43,549
-
Annual pre-tax income in the top 10%: $10,789
France
-
Annual pre-tax income is within 1%: $275,403
-
Annual pre-tax income in the top 10%: $101,789
Germany
-
Annual pre-tax income is within 1%: $330,235
-
Annual pre-tax income in the top 10%: $117,060
Read next: 8 ways to make $200 (or more) a day working from home
India
-
Annual pre-tax income is within 1%: $103,296
-
Annual pre-tax income in the top 10%: $16,807
Indonesia
-
Annual pre-tax income is within 1%: $115,931
-
Annual pre-tax income in the top 10%: $34,678
Iran
-
Annual pre-tax income is within 1%: $208,839
-
Annual pre-tax income in the top 10%: $47,375
Israel
-
Annual pre-tax income is within 1%: $579,242
-
Annual pre-tax income in the top 10%: $157,946
Trending now: 6 inexpensive hobbies you can start in 2024 that will make you money
Italy
-
Annual pre-tax income is within 1%: $293,686
-
Annual pre-tax income in the top 10%: $93,327
Japan
-
Annual pre-tax income is within 1%: $283,986
-
Annual pre-tax income in the top 10%: $103,789
Mexico
-
Annual pre-tax income is within 1%: $355,876
-
Annual pre-tax income in the top 10%: $51,041
Nigeria
-
Annual pre-tax income is within 1%: $81,381
-
Annual pre-tax income in the top 10%: $23,181
Learn more: How to generate passive income with just $1,000
Pakistan
-
Annual pre-tax income is within 1%: $85,088
-
Annual pre-tax income in the top 10%: $22,012
Philippines
-
Annual pre-tax income is within 1%: $117,837
-
Annual pre-tax income in the top 10%: $28,883
Russia
-
Annual pre-tax income is within 1%: $219,165
-
Annual pre-tax income in the top 10%: $50,034
Singapore
-
Annual pre-tax income is within 1%: $477,187
-
Annual pre-tax income in the top 10%: $215,388
Read more: “Rich Dad” Robert Kiyosaki: Buy these 8 assets to be rich enough to quit your job for good
South Africa
-
Annual pre-tax income is within 1%: $218,147
-
Annual pre-tax income in the top 10%: $56,949
Tanzania
-
Annual pre-tax income is within 1%: $50,482
-
Annual pre-tax income in the top 10%: $10,656
Thailand
-
Annual pre-tax income is within 1%: $174,664
-
Annual pre-tax income in the top 10%: $43,010
turkey
-
Annual pre-tax income is within 1%: $424,634
-
Annual pre-tax income in the top 10%: $91,605
Trending now: How to make $30,000+ a week semi-passive income with Amazon
England
-
Annual pre-tax income is within 1%: $276,639
-
Annual pre-tax income in the top 10%: $97,999
America
-
Annual pre-tax income is within 1%: $592,319
-
Annual pre-tax income in the top 10%: $165,633
United Arab Emirates
-
Annual pre-tax income is within 1%: $763,839
-
Annual pre-tax income in the top 10%: $213,495
Vietnam
-
Annual pre-tax income is within 1%: $112,809
-
Annual pre-tax income in the top 10%: $29,750
Gabriel O'Ria and Nicole Spector contributed reporting to this article.
Methodology: GOBankingRates analyzed countries around the world to determine how much you would need to earn to be considered “wealthy” in 2022 US dollars. GOBankingRates used the Global Inequality Database to [1] The national average pre-tax income standard is within the top 10% of income earners, [2] The average pre-tax income threshold for each country must be within the top 1% of income earners. All data collected and up to date as of June 7, 2024.
More from GOBankingRates
This article originally appeared on GOBankingRates.com: How much do you need to earn to be “rich” in 30 of the world's largest countries?
