How much do you need to earn to be considered rich?

Getty Images/Andrzej Rostek

The study is the second of its kind and aims to inform the debate around the quality of life of individuals.

This is a common question people ask themselves – how well am I doing compared to the rest of the population? Am I earning above, below, or average for someone my age and background?

well a new one L’Observatoire des Inégalités reportan independent organization that studies inequality in French society, has defined what it means to be rich and how many people that includes.

Follow Forbes Money content first hand on Telegram

To be considered rich, a person must have a € 3,673 (R$ 19.5 thousand) per month – this figure is double the average person and comprises 4.5 million people in France.

A couple with two children under the age of 14 would be considered wealthy if they had a combined monthly income of € 7,713 (R$ 41.5 thousand).

That monthly amount is now slightly higher than when this study was conducted in 2020, where being rich for an individual would equate to earning € 3,470 (R$ 19.6 thousand) a month.

1% of the population would be considered “super-rich” if they had an income from € 7,180 (R$ 38.6 thousand) per month, after tax, per person.

In France, the richest people today – in terms of income – are those who are slightly older than the rest of the population (average age 57 years)no longer have children at home, own property and occupy managerial positions at the workplace.

Unsurprisingly, this new survey found that the richest people in terms of overall wealth (not just income) are older: 70% are over 50, 39% are retired, and 28% live in Paris and surrounding regions.

In fact, the richest person in France is Bernard Arnault, President of LVMHthe world’s largest luxury goods company – its wealth equals the total value of all properties in Marseille, France’s second largest city.

The study is the second of its kind and its aim is to inform the debate around the quality of life of individuals and particularly around poverty and global inequality.

As the study says, “to be rich in life is to have a lot, but how much is a lot?” Well now everyone has the answer.

Apply for selection for the Under 30 list 2022

About Abhishek Pratap

Food maven. Unapologetic travel fanatic. MCU's fan. Infuriatingly humble creator. Award-winning pop culture ninja.

Check Also

What is known about 50 migrant truck deaths

More than 40 migrants were found dead in an abandoned truck outside the city of …