The top 10% of earners—households making about $250,000 a year or more—are splurging on everything from vacations to designer handbags, buoyed by big gains in stocks, real estate and other assets.
Those consumers now account for 49.7% of all spending, a record in data going back to 1989, according to an analysis by Moody’s Analytics. Three decades ago, they accounted for about 36%.
The top-level post uses a gift link. When it runs out, there is an archived copy of the article.
250k a year would be a life-changing amount of money for me.
250k a year would wipe out my partner’s student debt, all our shared CC debt, and pay off a third of my house in a single year, at our current spending rate.
250k/yr is an absolutely loaded amount of money for 90% of the people I know.
I hate to break it to you, but for most Americans, 250K a year is an unthinkable amount of money.