Answers to Mike Vaughan's Questions
A: The Social Security Administration reports that the median net wage in 2013 was $28,031. “This means that half of all individuals made $28,031 or less,” Vaughan explained.
Q: How much does someone need to earn to be rich?
A: “To answer that question, you first have to define ‘rich,’” Vaughan said. “Is it the top 10 percent, the top 1 percent? $140,000 places you in the top 10 percent of household income; whereas $50,742 places you in the top half. I like to ask people to think of it this way: 75 percent of the students in the Ogden School District are on free and reduced lunch. If you’ve got kids in the Ogden School District who aren’t on free and reduced lunch, your situation is better than 75 percent of the residents of Ogden.”