Answer the question yourself: What is your "I'm rich!" number? If you're like most Americans, it depends on how much money you currently bring in, but the number is likely to be more than what 99.5 percent of American households bring home. Americans, it seems, have a pretty good sense of how much money it takes to be at the top level of the income distribution.
I asked survey respondents to tell me how much money the people in their household would have to earn in a year for them to consider themselves rich. I evaluated answers that began at $10,000 and went through $4 million. In households in the lowest quartile of income, those earning less than $25,000 a year, people thought they needed about $293,000, on average, to consider themselves rich. And in households earning between $30,000 and $60,000 of annual income, the magic number was closer to $394,000. As people earn more, the multiplier on current income goes down, but the absolute number goes up in a somewhat linear fashion.
Read More Rich men allegedly scammed: drugs, strip clubs, and charges