The Wealthy 5% – Who Are They?


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5% of the population in America make most of the money, own most of the wealth, pay most of the income tax and dictate the lives of the remaining 95%. Here are some stats that will open your eyes:

  • The top 5% of households make $231,206 a year (source: Tax Foundation).
  • The top 5% of households control 60% of the nation’s wealth (source: Federal Reserve Survey of Consumer Finance).
  • The top 5% of households pay 57% of all income tax (source: Tax Foundation).

This top 5% run big companies, run small companies, employ millions, create new jobs, hire and fire employees, invest in new companies, liquidate old companies, increase wages, decrease wages, increase benefits, reduce benefits and outsource jobs.

They also control politicians through their political contribution and the lobby groups they control, which means the politicians work for them and the other 5%, not for the 95%.

This 5% can (and do) alter our lives, for better or for worse.

So, who are these 5%? Who are these individuals that leverage so much control over our lives?

In my five year study on the daily habits of the rich and poor, I found out.

Here’s what I found:

  • 18% were senior executives working for large, publicly-held companies
  • 51% were small business owners
  • 13% were salesmen/saleswomen
  • 28% had some professional designation. Some worked for big companies, others in a small business.
  • 63% took a personal financial risk in search of wealth
  • 85% liked what they did for a living
  • 91% were decision makers at their job
  • 21% were “A” students
  • 41% were “B” students
  • 29% were “C” students
  • 68% had a college degree
  • 25% had a post graduate degree
  • 56% worked their way through college
  • 86% worked more than 50 hours per week
  • 27% failed at least once in business
  • 54% considered themselves optimists
  • 67% were frugal
  • 76% grew up poor or middle-class
  • 80% pursued a major goal or dream in life
  • 62% focused on specific goals every day
  • 75% had good daily habits
  • 76% exercised aerobically 30 minutes or more, four days a week
  • 63% watched less than one hour of T.V. a day
  • 64% lived in a modest home
  • 84% said they created the opportunity for good luck to occur in their lives
  • 93% who had a mentor, attributed their wealth to their mentors
  • 86% associated with other rich, success-minded people
  • 94% engaged in daily self-improvement

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Thomas C. Corley About Thomas C. Corley

Tom Corley is a bestselling author, speaker, and media contributor for Business Insider, CNBC and a few other national media outlets.

His Rich Habits research has been read, viewed or heard by over 50 million people in 25 countries around the world.

Besides being an author, Tom is also a CPA, CFP, holds a master’s degree in taxation and is President of Cerefice and Company, a CPA firm in New Jersey.
Phone Number: 732-382-3800 Ext. 103.
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