Financial Goals: How Much You Need to Earn to Join North Dakota’s Wealthy Elite

Looking to strike it rich? GoBankingRates has crunched the numbers to see what it takes to hit the top 5% of earners in every state.

Well, if you've got dreams of wealth, West Virginia might just be calling your name. The lowest threshold is West Virginia, where a yearly haul of $329,000 lands you in the lap of luxury. Mississippi's not far off, clocking in at $334,000, with New Mexico trailing just a bit behind at $353,000.

Now, if you're shooting for the stars, you'll want to set your sights on Connecticut. There, the price of admission to the "rich" club hits a whopping $656,000 per year—nearly double what you'd need in West Virginia. New York and Massachusetts aren't far behind, demanding $621,000 and $617,000 annually, respectively.

Get our free mobile app

And speaking of ups and downs, let's talk about here in North Dakota. It's sitting at the bottom of the heap when it comes to income growth among the top 5%, with a paltry 14.68% increase over five years. While some states are riding high, North Dakota's economic ride looks more like a slow crawl.

North Dakota

Thanks to inflation and a bunch of other factors, the bar for wealth has shot way up. According to the report, folks in that top 5% bracket are pulling in about 30% more cash than they were back in 2017. So, if you're gunning for riches, you might need to aim a little higher these days. Montana faired better than North Dakota on the list. Check its  Elite status here.