Results for: High-Income Earners

As the possibility of a Kamala Harris presidency gains momentum, high-income earners across the United States are increasingly concerned about potential changes to tax policy that could significantly affect their finances. Experts predict that states like California and New York, which already have high state income taxes, could see the most significant financial hits, while even states without income taxes might not escape the impact of federal tax increases. Additionally, a shift in energy policy towards alternative energy sources could pose challenges for states heavily reliant on fossil fuel industries, potentially leading to economic shifts.

While Florida is a popular destination for wealthy Americans, the top destinations for high-income transplants are scattered across the US. Discover the cities seeing a surge in wealthy residents, their motivations for relocating, and the potential impact on local communities.

Many high-income earners have a disconnect from the reality of the average American. They often live in an unimaginable ivory tower, with little understanding of the everyday struggles that most people face. However, the average high-income earner, who earns $500,000 or more annually, typically has about $2.68-$3 million saved towards retirement. This means that the vast majority of them have about 5 times more in their retirement account than the average American, who retires with an average savings of $537,000.