To be in Australia's top 10% of individual income earners, you generally need a taxable income above approximately $130,000 to $140,000 annually, with figures around $131,501 (2019-20 data) marking the 90th percentile for taxpayers, though this threshold can shift slightly with economic changes and specific definitions used. For a more recent snapshot, some sources suggest around $100,000+ places you in the top 10% of earners, while others place the top 10% well over $130k for individuals, classifying those above $250k as top 1%.
There aren't many of them, just 110,613 — 82,258 men and 28,355 women. Only 39,209 have taxable incomes of more than $500,000, and of these only 14,467 have taxable incomes of more than $1 million.
With that being said, what is a wealthy retirement? Well, according to ASFA, a comfortable retirement for a couple is around $75,000 per year and $53,000 for a single person. Given this, I would consider achieving a retirement income of, say, 30% over these amounts to be a wealthy retirement.
Data from the Federal Reserve's Survey of Consumer Finances, shows that only 4.7% of Americans have at least $1 million saved in retirement-specific accounts such as 401ks and IRAs.
Is $600K Enough? Yes for many Australians, $600K can fund a stable and enjoyable retirement, especially when supported by Age Pension and guided by a long-term financial plan. You may not live like royalty, but you can live securely, independently, and without financial stress.
Most Americans Earn Far Less Than $100k
According to last year's YouGov data, only 18% of U.S. adults earn more than $100,000 annually. And the biggest earners are mostly men—25%—and those aged 35 to 44—25%. For comparison, just 12% of women make six figures.
Geoffrey James Nugent (born 14 February 1977), known professionally as Jim Jefferies, is an Australian and American comedian, actor, and writer. He created and starred in the FX sitcom Legit (2013–2014) and the Comedy Central late-night show The Jim Jefferies Show (2017–2019). In 2023, Jim began hosting The 1% Club.
The threshold to be in the top 10% of U.S. households by net worth grew from about $1.3 million to roughly $1.8 million over the last five years, largely due to rising stock and home values, according to a recent Visa analysis of 2024 U.S. Census Bureau survey data.
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The number of Australian individuals with more than US$10 million ($15.7 billion) in assets has passed 42,000, rising by 3.9 per cent over the past year.
You'll need to earn close to $200,000 a year to be within the top 10% of U.S. household incomes, though the exact threshold depends on where you live.
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According to ABS data, just 2.61 million Aussies – or about 10 per cent of the population – earn $100,000 or more a year. Many people will never reach a six-figure income in their working lives.
People earning £100,000 or more a year typically positioned themselves in the top 52 per cent relative to the rest of the population, which is just above average. In fact, they are almost right at the top of the earnings tree.
Once you are aware of your salary every month, you should set aside a particular % of it for savings after spending on needs and wants, as per the 50-30-20 budget rule. This will ensure that you are saving at least 20% of your salary every month.
There were 1,918,618 total retirement accounts (including employer-sponsored plans and individually controlled IRA savings and investment accounts) with balances of at least $1 million as of September 30, 2025. The average account balance for these retirement millionaires was $2,388,409 as of September 30, 2025.
The top ten financial mistakes most people make after retirement are:
When asked when they plan to retire, most people say between 65 and 67. But according to a Gallup survey the average age that people actually retire is 61.