It takes $650,000 a year to reach America’s top 1%

Eager businessman with briefcase of money running up ascending bar graph (Credit: Malte Mueller—Getty Images)

It's easy to assume what life might look like for the top 1% of earners in the U.S.— the exclusive tag might conjure images of big houses, luxury cars and exotic vacations.

The average American household needs to bring in $652,657 a year to be classed among the top 1% of earners across the country, according to research published Thursday by financial advisors SmartAsset.