Here’s How Much You Need to Make to Be ‘Rich’ in Texas

We all would love to wake up tomorrow in the great state of Texas and be rich. We would all have different reasons as to why we would want to be rich and how we would spend all this money that we had but it sure would be fun. But, what is considered rich in Texas, what dollar amount do you need to hit to be considered rich?  

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It’s an interesting topic as the idea of being rich has changed so much for all of us since we were little kids. When I was a kid I thought families that had huge houses and expensive cars meant they are rich, but as I grow older I am reminded that so many people will purchase these things knowing they can’t really afford them. If you’re old enough to remember the movie Wayne’s World many of us thought that just using the condiment Grey Poupon was a symbol of being wealthy. If you don’t understand the reference, go watch the movie, it’s great. 

How Much to be in the Top 20% in Texas? 

According to a new article from GO Banking Rates, you need to make $135,323 per year to be in the top 20% of earners in the state of Texas. That is more money than I have ever made in one year, but remember you can still be broke making this much money, you need to live within your means. Don’t forget to save some money too. 

How Much to be in the Top 5% in Texas? 

According to the same article, to be in the top 5% of earners in Texas you need to make $427,006 per year. For most people in the state of Texas having a salary this large would be a dream come true. But to earn a salary this large you need to have a special set of skills that is difficult to replace. Just know that I hope you can one day make this kind of salary for yourself, so I can borrow some money. Hahaha!