Income distributions for young people under age 26

by yes_its_him

So the IRS put out some aggregate information on 2016 taxable gross income reported by single people under age 26.

80% earned up to $25,000.

Another almost 16% earned $25,000 to $50,000.

So that’s collectively 96% of people in that age group who filed tax returns.

About 3% made up to $75K, and the remaining 1% made more than that.

assets.bwbx.io/images/users/iqjWHBFdfxIU/i.hH4NrpPNsI/v1/760x-1.png

That 1% is 185,000 people, so quite a few, though not a big percentage of the population. (There are about 4 million people of any given age, i.e. 4 million 25-year-olds, roughly.)

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1400 of them make over $1M in 2016.

45 made over $10M.

So, not everybody is a Silicon Valley software developer making six figures, it just seems that way sometimes if you read a lot of posts here.

www.bloombergquint.com/onweb/2018/09/05/young-and-rich-45-americans-under-age-26-earned-10-mln-or-more

Data source can be found here: www.irs.gov/statistics/soi-tax-stats-individual-statistical-tables-by-filing-status