Even Affluent Americans Think 'The 1%' Are Pulling Away

In recent years, setting the richest 1% of Americans increasingly are part of the national conversation are. Some vilify "the 1%", others want to join their ranks, and many hold both settings at once - Consider the rich with a sometimes paradoxical mixture of anger, envy and desire.

What does it take to be in "The 1%"? Probably less than you think (although it depends very much on where you live). The data from the survey of the Government of Consumer Finances, together with the tax return data from the IRS, show that in terms of annual household income, $ 380K puts you in the top 1% nationally; not surprisingly, is the threshold significantly higher in states like Connecticut ($ 678k), New York ($ 506K) and California ($ 438K). The same is true for wealthy where $ 7.6M in the top 1% is at the national level, but you would need much more in the moneyed bastions of the northeast corridor and Northern California. In general, people are to guess with any accuracy how much net worth you would need, but significantly overestimate how much income would be needed.
Just as interesting as "Who in the 1%" is the question, "Who thinks that they will be in the 1% a day" This question is on the American psyche of central importance. The potential for social mobility has been at the heart of the American dream long, and the meritocracy Americans have promised their children for generations ( "You can grow what you want to be if you work hard enough"). The data show that even affluent Americans - that a comfortable, but not enough, seems to 1% of the members of the closure in its - increasingly 1% look like pulling even of them. Percenter status seems increasingly unreachable, even for those who are objectively close.

A recent Ipsos Affluent Barometer explores self-perception of wealth under "Affluents" (100,000 $ + household income - the top 25-30% of Americans) and "Ultra Affluents" ($ 250K + HHI - the top 3-4% of Americans). After taking the few who felt they were already "in the top 1%", only 8% of Affluents she said in the top 1% of a day (down from 15% in 2012) to be expected; under ultra-Affluents, expect 28% to it (in 2012 by 37% down) to make. In their minds, the slips 1% farther into the stratosphere.

At the same time the data from the Ipsos Affluent are survey show to affluent and ultra-Affluents are increasingly focused on experiences and intangible assets - manifested the desire to look good short lived to enjoy a life of wealth, revel in what they can control, appreciate a good meal and find joy in the company of friends and family. The share of luxury-dollar (and the proportion of luxury aspirations) shift - objects to experiences, to travel from the things of something that shouts the status somewhat understated, by an irrepressible hunger for wealth on the subtle appreciation of the moment.
These trends reflect a significant shift in the Affluent psyche - one that is meant particularly important for media and marketers if they are to make the right emotional hot buttons and in conjunction with a tone that resonates. These days it is less join the ranks of the richest 1% of Americans - there is more to be a part of the 1% that makes their bucket list into a checklist.