West Virginia
How much money do you need to make to be in the top 5% in West Virginia?
(NEXSTAR) – The disparity between the income that an average U.S. resident brings in yearly compared to those sitting at the top of earners in each state has always been a major topic of discussion.
In fact, WalletHub states that “the highest-earning 10% of individuals in the United States earn over 12 times more than those in the lowest-earning 10%, based on the latest Census data.”
And while looking up what the “average salary” is across the country, ($74,600, according to the latest data from the Federal Reserve), appears to give a solid idea of how far off most Americans are from the 5% club, a closer look at the high-end salaries reveals that the disparity is even more stark.
WalletHub broke down the income of all 50 U.S. states and Washington D.C into three different groups: the average annual income of the top 5%, the average for the bottom 20%, and the median for all of each state’s residents.
Landing at No. 1 was New York where the top 5% makes about $553,000 a year. That’s almost $35,000 more than the next two highest states and nearly $100,000 more than the 10th-ranked state.
While the top 5% is thriving in the Empire State, its bottom 20% is falling well short, ranking 44th in salary with $13,301.
Right behind New York is Connecticut and Virginia where the average is about $518,000 apiece. Followed by New Jersey and Illinois which are both hovering around $505,000.
The state with the lowest top 5% threshold is Alaska, where earning roughly $321,000 will get you into the club. Hawaii and Vermont aren’t far behind where the top 5% makes about $334,000.
West Virginians will need to make $345,239 to be in the top 5%. Ohioans will need $436,922 and Kentuckians will need $411,897.
Check out what you need to make in your state:
Rank
State
Average Annual Income of Top 5%
Median Annual Income
Average Annual Income of Bottom 20%
1
New York
$553,436
$91,366
$13,301
2
Connecticut
$518,757
$114,156
$14,576
3
Virginia
$518,296
$89,393
$18,694
4
New Jersey
$505,621
$117,847
$16,445
5
Illinois
$504,800
$78,304
$16,192
6
Georgia
$487,870
$66,612
$16,472
7
Texas
$481,483
$70,513
$16,802
8
Washington
$474,067
$103,748
$18,223
9
Florida
$470,308
$68,818
$15,375
10
Massachusetts
$466,208
$127,760
$13,689
11
Minnesota
$464,981
$86,364
$19,797
12
Colorado
$456,603
$97,301
$18,451
13
California
$454,829
$123,988
$13,949
14
Tennessee
$453,539
$59,077
$15,679
15
District of Columbia
$450,892
$162,265
$9,011
16
North Carolina
$450,592
$63,025
$15,836
17
Utah
$448,195
$89,786
$22,491
18
Michigan
$446,114
$62,446
$17,019
19
Missouri
$446,069
$59,715
$16,821
20
Pennsylvania
$445,261
$74,711
$15,801
21
Ohio
$436,922
$61,904
$16,188
22
Maryland
$427,135
$124,693
$16,647
23
Arizona
$424,913
$74,375
$16,604
24
Kansas
$423,517
$68,489
$17,176
25
Nebraska
$416,325
$72,384
$17,380
26
Arkansas
$416,224
$51,032
$14,069
27
South Carolina
$412,771
$62,909
$13,996
28
Kentucky
$411,897
$55,629
$13,800
29
Oklahoma
$405,113
$57,215
$15,205
30
Idaho
$403,737
$70,041
$18,372
31
Delaware
$402,989
$87,173
$16,930
32
Wisconsin
$402,256
$72,602
$17,973
33
Nevada
$401,062
$80,366
$14,472
34
New Hampshire
$400,343
$110,205
$18,075
35
Indiana
$399,270
$64,170
$16,670
36
Alabama
$398,584
$55,480
$13,242
37
Montana
$395,720
$68,937
$15,337
38
Louisiana
$395,155
$56,282
$11,504
39
Iowa
$395,093
$68,974
$17,621
40
South Dakota
$393,809
$69,266
$17,252
41
North Dakota
$387,548
$79,874
$15,661
42
Wyoming
$387,280
$76,307
$16,199
43
Oregon
$377,399
$91,100
$14,720
44
Mississippi
$377,040
$46,880
$12,168
45
Rhode Island
$353,721
$104,252
$12,668
46
New Mexico
$351,972
$58,911
$11,944
47
West Virginia
$345,239
$52,719
$12,477
48
Maine
$338,866
$79,800
$13,749
49
Vermont
$334,470
$89,695
$14,477
50
Hawaii
$334,369
$141,832
$14,014
51
Alaska
$321,634
$113,934
$15,646
As for what state’s residents make the most money on average, Washington D.C. finished with the highest median income of $162,265. Unfortunately, D.C. also finished with the lowest salary for the average annual income of the bottom 20%, with $9,011.
Other states that had a high median income were Hawaii ($141,832), Massachusetts ($127,760), Maryland ($124,693), and California ($123,988).
These states with a smaller gap between the average earner and the top 5% make it easier to make the jump, but it’s still difficult.
According to GoBankingRates, it will take a variety of factors to make that jump. First, you need a steady increase in income. This could mean you are making better financial decisions, investing wisely, or perhaps experiencing career advancements.
Another factor is maybe having a solid investment strategy, look to see that you are getting positive returns on your investment and that you have a well-diversified portfolio.
Finally, prioritize your long-term financial stability. Look to prioritize saving over short-term pleasures.
And if you’re looking to go even higher than the top 5%, Forbes found that to be one of the top 1% of earners in the U.S., you need to bring in an annual salary of at least $597,815, so start saving up!
West Virginia
Reaction to plans to close West Virginia Children’s Home – WV MetroNews
ELKINS, W.Va. — The West Virginia Children’s Home in Elkins will close at the end of the year.
The state Department of Human Services announced the closing in recent days.
The 25-bed facility for foster children was built in 1909 and serves children from 12 to 18 years old and, in recent months, has consistently housed 10 or fewer children.
The facility also has the number of maintenance concerns any structure more than 110 years old would have.
Kylee Hassan, the marketing director for Mission West Virginia Adoption Resource Exchange, said the move away from an institutional setting will encourage more growth and development that could lead to better outcomes.
“We see the benefits when a child is with a family that has supports in place versus growing up in a facility that puts them at a disadvantage,” Hassan said.
The state already has more than 6,000 children in the foster care system and a shortage of families to care for them. The need for foster families of all types has been dire in recent years, and the need for families to work with older children is currently high.
While organizations continue working to get more families qualified, the Foster Care and Adoption Services program operated by Genesis will be expanded with state resources.
“The real pressure is on us to find families for those children,” Hassan said. “We are always in need of foster families to help, especially teenagers.”
Leaving the institutional care model behind will put more kids in the foster system in actual families where they learn the importance of relationships. The family setting is a full-time environment where children learn the importance of the family unit, building relationships, learning how to follow rules, and how to handle disappointment.
“The one that comes most to my mind is reduced trauma,” Hassan said. “So, children placed with a family are less likely to experience additional trauma from being separated from siblings or other things.”
The “home” setting comes with the same people guiding young people through experience, different than the sterile institutional environment where different shifts of people may manage the populations in homes. Homes also give foster kids an opportunity to build trust with others and learn the importance of responsibility and respect.
“What friendships look like, what healthy relationships with family or friends look like,” Hassan said. “Even learning basic skills like how to get your driver’s license.”
Hassan contends children growing up in homes are more resilient and have a better chance to succeed when they age out of the foster system. The children not only learn from adults in a family setting, but they also see the family unit in action, giving them practical knowledge needed to be successful in the world of work.
“When children grow up in the facility type setting, they don’t know how to be on their own when they age out,” Hassan said. “And it’s harder for them to establish relationships and connections, which puts them at a higher risk.”
West Virginia
West Virginia hopes to use Pittsburgh loss as a valuable lesson
West Virginia found out a tough lesson on the road at Pittsburgh falling 86-62 for their first loss of the season in the Backyard Brawl.
The Mountaineers shot only 39-percent from the field and 21-percent from three, while the Panthers were close to 50-percent from the field in convincing win.
“We didn’t come out and play the way we wanted to. I thought Pitt got going early, got a little confidence shooting it from three. Thought we had some decent looks early in the game that didn’t go down and could never really get some traction to claw back into it,” head coach Darian DeVries said.
The Panthers were able to get to the rim and kick the ball out for open looks which was something that the Mountaineers were aware could be an option but wanted to prevent dribble penetration.
“It was a little bit of give and take from our standpoint and from a strategy standpoint we were wrong and they made us pay,” DeVries said.
West Virginia now sits at 2-1 on the season with an upcoming home contest against Iona before the program is set to play some more challenging games beginning with a match up against Gonzaga in the Battle 4 Atlantis Tournament. From there more challenges will lie ahead.
The focus for this team is to use what unfolded against the Panthers and learn from it moving forward. That is easier said than done at times, but the Mountaineers will need to try to turn things around in short order as the schedule is only going to continue to get more difficult.
“We didn’t respond the way we wanted to but I’ve still got faith in my group. We’ve done it before and faced adversity and came back from a large deficit or deficit in general,” point guard Javon Small. “We just didn’t respond the way we wanted to today but we’ll make sure we get back into the film.”
Pittsburgh is a good basketball team and it was on the road, but there are bigger challenges ahead.
“Tonight we’re obviously incredibly disappointed with how we played and how the game went tonight but this group is a good group and they’re going to bounce back we’re continue to grow and get better and better and tonight is a great learning opportunity for us. A lot of things there as a coaching staff, as a team that we’re going to get better at and move on and try to improve each day,” DeVries said.
West Virginia
Greene's focus is forward after West Virginia falls short in his return
Garrett Greene appeared in a game for the first time since mid-October for West Virginia on Saturday.
Unfortunately for Greene and company, though, after a strong first half, they couldn’t sustain it in their 49-35 loss to Baylor.
“I kind of knew on Tuesday or Wednesday I was going to be good to go. Body felt really good,” Greene said.
Greene had missed time dealing with an upper-body injury, missing WVU’s game at Arizona and Cincinnati. He was cleared before the game against Cincinnati but served in an emergency quarterback role.
“I felt good. The coaching staff and everyone did a good job of kind of getting me ready to go this week in practice, specifically with looks and stuff. I felt good out there,” Greene said.
Early on, Greene was leading this offense in large part because of his legs. Greene rushed for a 3-yard score on WVU’s opening drive as well as a 1-yard scoring rush as the clock expired prior to halftime.
Greene finished the game with 22 total carries. Greene said the coaching staff didn’t want to try and limit him in the run game, even with his recent injuries.
“They just told me to play how I always play. When you try to play scared or try to play skittish or whatever, that’s when bad stuff happens. They just told me to go play my game,” Greene said.
In the first half, WVU scored 28 points, compared to the second half, they scored only seven, with it coming in the final minute of the game. Greene said part of the reason for the lack of success in the second half was what Baylor did on third down.
In the first half, WVU was 3-for-6 on third downs, compared to 2-for-7 on third down in the second half.
“They made some good second-half adjustments to what we were doing on third downs. Their guys made some plays, they showed me some looks on third down they hadn’t shown on tape, so hats off to their [defensive coordinator],” Greene said.
Overall, Greene thought he played alright in his first game back. He threw for 237 yards, two touchdowns, and an interception, adding another 129 yards and two scores on the ground as well.
“I feel like I played okay. There’s some third-down decisions that I’d like back, but I feel like I played okay, just not good enough to win,” Greene said.
Now, Greene and the Mountaineers have to find a way to regroup in a hurry for what shapes to be a potentially emotional week for him.
Greene will be one of many seniors honored in WVU’s home finale against UCF on Nov. 23, marking the last home game of his career.
“Obviously, I think before all that, we’d just like to win these next two. I know I’m looking forward to Saturday. Kind of bittersweet because it will be my last time here. I think we’re more looking forward to finishing strong these next two games and then kind of handling business after that,” Greene said
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