US Net-worth Millionaires - How Exclusive Are You?

9,162 Views | 158 Replies | Last: 1 hr ago by BonfireNerd04
BTKAG97
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TOUCHDOWN! said:

infinity ag said:

TOUCHDOWN! said:

$8m - 1,700,000 Americans
$9m - 1,500,000 Americans
$10m - 1,700,000 Americans

Doubt

Is this household net worth, or individual net worth?

Does the count of Americans include children? I don't care how I stack up against 5-year olds. I make way more money then them

Dumb table.


You must be fun at parties.

It's okay, you will get there some day. Keep grinding.


Explain how the cumulative number of people who make $10m is higher than the cumulative number of people who make $9m.

Each grouping is exclusive. They are not cummulative.
YouBet
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oldord said:

Well call me stupid...

Well, ok.

I can assure you that you can live just fine off of $10M, not live in a small house, and afford some luxuries now and again. Probably shouldn't be going out and buying Ferrari's and such but it's easily doable.
Rydyn
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Someone explain the "cumulative" column to me.

The math ain't mathing.
Kool
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infinity ag said:

Everything we do everyday is to make money so we can have a good comfortable life for ourselves and our families. So it is important to know where we stand and if we are improving or not.

This table answers for each million mark of total net worth (inclusive of home equity), how exclusive are you? Data is US only.

Example: If your net worth is $1M, then there are 24M Americans in your group, which is about 7% of the US population. 1 in 14.



If it is important to know where we stand, all we need to do is tally up our net worth whenever we want.
How does a table of where other people stand help us know this?
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fullback44
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Kenneth_2003 said:

fullback44 said:

people saying that millionaires only worry about their money, let me tell you most of them made their money long ago or it was an inheritance. These wealthy people aren't living day to day lives worrying about their money. they are hiring the peasants to tend to their houses, yachts, weekend homes and other belongings. Anyone that thinks they are worrying about their money doesn't know or hasn't been around wealthy people. Now someone in the 1 million to 3 million range may worry more about staying in that range and live a more day to day life, those with 5-10 million have made it, they are rocking along in life enjoying all the finer things life has to offer. most of the people that get wealthy on their own tend to make smart decisions in life and were not afraid to make a few very educated and calculated decisions in life that got them into a position to be wealthy.

Nothing that you typed is backed up by any of the studies that are regularly done about millionaires in America. The overwhelming majority are first generation and got there with home equity and years of slow and steady compounding in retirement and other investment accounts. They're quite. They're not flashy. They don't have yachts, peasants, or weekend homes.

bro, I have plenty of friends with lots of money, what I typed fits almost all of my friends who have tons of oil and gas money or whose family's have old money. sure their are types that work their arse off and gain money over time... the people I'm talking about are 5 million plus people who used their wealth to compound and keep growing it.. they don't need to work a 9 to 5 and haven't needed that in years, even when young. I agree many people get their by starting and running a business over time, that's one way to get there. Its very hard to get to big money working for someone else unless you rise to the top.. which very few peeps in the work force get their.

Also, I'm not talking about people with 1-2 million, those are usually people that work their arse off until they are 60 years old and save their money, nothing wrong with that either. Those with 5 million plus usually have other incomes or own a company they may have started or inherited
backintexas2013
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infinity ag said:

BMX Bandit said:

No kidding! I'd be pretty miserable if all I worried about was making money.


If you have $1 million, and are happy with your life, why would you care how many other Americans are also millionaires?


It seems like too many are not chasing their own happiness, but chasing what others have. Explains a lot of the jealousy.



How did you figure that people who are successful making money is all that they do? Maybe they are smart enough to play golf over the weekends, travel, spend time with the family, AND make money.






We were using your words. Reread what you typed.
Sid Farkas
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fc2112 said:

I find it hard to believe 7% of the US population has a net worth of $1 MM or more. That seems high.

If I'm reading it right, it says about 1/3 of all Americans has +$1mm net worth. And yes, that seems high.
BTKAG97
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Rydyn said:

Someone explain the "cumulative" column to me.

The math ain't mathing.

If you make >= $50 million then you are included with everyone making >= $1 million.

Those only making >= $1 million are not included with those making >= $50 million.

That's why the $1 million culumn is 32% but the $50 million column is only 1.20%
Cheetah01
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Based on this table is actually 32% that has a net worth of $1M or more. So 1/3 of Americans are "millionaires"? Wow
YouBet
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Would help if we knew what the data source of this table was...
BTKAG97
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fc2112 said:

I find it hard to believe 7% of the US population has a net worth of $1 MM or more. That seems high.

24,000,000 / 349,000,000 = 0.0687 (7%)
fullback44
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Cheetah01 said:

Based on this table is actually 32% that has a net worth of $1M or more. So 1/3 of Americans are "millionaires"? Wow

more like 1/10 or so 10-11%

40 million out of 350 million
Kenneth_2003
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Cheetah01 said:

Based on this table is actually 32% that has a net worth of $1M or more. So 1/3 of Americans are "millionaires"? Wow

That column makes ZERO sense to me

7% or 1 in 14 tracks with studies/reports I've seen elsewhere.
BTKAG97
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Cheetah01 said:

Based on this table is actually 32% that has a net worth of $1M or more. So 1/3 of Americans are "millionaires"? Wow

That number looks to me incorrect. The sum of column 2 is 59,555,000 which only 17% of the US population.
infinity ag
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BMX Bandit said:

Quote:



How did you figure that people who are successful making money is all that they do? Maybe they are smart enough to play golf over the weekends, travel, spend time with the family, AND make money.






I didn't say that successful people did this.


I was commenting on your words.

Quote:

Everything we do everyday is to make money



Truly successful people aren't doing that.


Please learn to not take every thing so literally and ruin your day fighting over it. Life will suck of we have to put in disclaimers on each statement, must like how the liberals get mad if you say he or she, they lose their sheet that you didn't confirm their pronouns first.

We (most of us) go to work. Why? The primary reason for 99% of us doing it is to put food on the table, send kids to school, etc etc.

Do you want me to apologize? To change my words?
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Agador Spartacus
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fc2112 said:

I find it hard to believe 7% of the US population has a net worth of $1 MM or more. That seems high.

If you buy a house in a big city and pay off the 30-year mortgage over time, you might be a $1M by the time you're done as long as you're not completely incompetent with handling money.

I would have guessed more like 5%, so it's higher than I thought, but not by that much.
infinity ag
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TOUCHDOWN! said:

infinity ag said:

TOUCHDOWN! said:

$8m - 1,700,000 Americans
$9m - 1,500,000 Americans
$10m - 1,700,000 Americans

Doubt

Is this household net worth, or individual net worth?

Does the count of Americans include children? I don't care how I stack up against 5-year olds. I make way more money then them

Dumb table.


You must be fun at parties.

It's okay, you will get there some day. Keep grinding.


Explain how the cumulative number of people who make $10m is higher than the cumulative number of people who make $9m.

Now if I tell you, your next thing would be to argue how all the numbers end with x00,000 and since the coincidence is too far-fetched for that to be true, the entire dataset must be wrong.

They are all approximate numbers with some margin of error. But directionally and "generally", they give a good enough indication of where one stands.
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flown-the-coop
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oldord said:

Sorry, $5 to $10M in net worth doesnt equal cash flow....It goes away quick unless you live in a small house with no luxury expenditures....
if you can't sort a sustainable budget at $5M to $10M, then you probably inherited or some a lottery (legit or ghetto matters not).

In that range sitting on money markets and the like generates a pretty nice life.

Ski chalets, private jets and various amounts of hookers and blow dan eat it up fast though.
infinity ag
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torrid said:

All I know is I always had a goal in mind of when I would be able to quit my job. I reached it a few years ago, but by that time it was not nearly enough. I then made a new goal and am getting closer, but even that will probably not be enough.


I reached a major milestone today which is why I thought about this thread. And researched some numbers. I have also reached my "FIRE" number and am in a situation where I enjoy my job, my boss/coworkers are nice, company is good and they treat people well. Most people are white which is probably why it isn't a slave sweatshop like Amazon or Meta. Salaries are lower but who cares, I don't live off my salary anymore.

I urge everyone to please re-evaluate where you are and start to project into the future and plan now. Time is critical.
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infinity ag
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backintexas2013 said:

Not sure what life you are living but not everything I do every day is to make money. I have time for myself, gym, hobbies, and even volunteer.


Why so salty? Take things in the right spirit.
I go to the gym, have my own rose garden and vegetable garden, go running, play tennis and pickleball, read a lot, program my own projects etc. I don't volunteer as much as I want to but I will get there.

Lighten up.
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Sid Farkas
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Agador Spartacus said:

fc2112 said:

I find it hard to believe 7% of the US population has a net worth of $1 MM or more. That seems high.

If you buy a house in a big city and pay off the 30-year mortgage over time, you might be a $1M by the time you're done as long as you're not completely incompetent with handling money.

I would have guessed more like 5%, so it's higher than I thought, but not by that much.

I believe Copilot on this one...

OP data is either wrong or deceptively presented. looks like it might include all residents in a household.
backintexas2013
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I'm great. I just was using what you typed. I also don't care what others make or have.
torrid
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infinity ag said:

torrid said:

All I know is I always had a goal in mind of when I would be able to quit my job. I reached it a few years ago, but by that time it was not nearly enough. I then made a new goal and am getting closer, but even that will probably not be enough.


I reached a major milestone today which is why I thought about this thread. And researched some numbers. I have also reached my "FIRE" number and am in a situation where I enjoy my job, my boss/coworkers are nice, company is good and they treat people well. Most people are white which is probably why it isn't a slave sweatshop like Amazon or Meta. Salaries are lower but who cares, I don't live off my salary anymore.

I urge everyone to please re-evaluate where you are and start to project into the future and plan now. Time is critical.


If I get a pink slip, and it's a very real possibility, standard severance would probably put me past my number. Though a couple years sooner than I planned.

I hate my job and can't leave this place soon enough. To find an equivalent job, assuming I could at my age, I'd have to move to someplace with a very high cost of living.

If I get axed, I'll probably make a half-serious effort to find a professional position locally that at least pays my bills. But I probably won't look too hard.
aTm2004
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backintexas2013 said:

Not sure what life you are living but not everything I do every day is to make money. I have time for myself, gym, hobbies, and even volunteer.

Exactly. Go to the B&I board and it's a different thought process over there. It seems they chase every penny available and give almost zero value to anything else in life. I'm convinced some of them would not pay for a necessary surgery because they could earn another $15,000 over 5 years investing their deductible.
StandUpforAmerica
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lb3 said:

torrid said:

This is TexAgs. We're all millionaires.

multi-millionaires.

And all of our spouses are 10's.
njohn87
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Why does "high wealthy" rank lower than "wealthy"
91AggieLawyer
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Is the table based on full community property or half community property in the case of married couples? My wife and I share the value of our home. Let's say that pushes us over the $1 mill in community property net worth, half of it definitely doesn't do it. Not now, anyway.

Now, if something happened to either one of us, then the one remaining keeps the house and the rest of the assets not otherwise devised.

I don't believe there is a way to get truly accurate numbers for that table.
infinity ag
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backintexas2013 said:

I'm great. I just was using what you typed. I also don't care what others make or have.


I think you do, else you wouldn't be posting in this thread.
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infinity ag
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StandUpforAmerica said:

lb3 said:

torrid said:

This is TexAgs. We're all millionaires.

multi-millionaires.

And all of our spouses are 10's.


with cannons
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Morbo the Annihilator
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njohn87 said:

Why does "high wealthy" rank lower than "wealthy"

Obviously, because they're high, making bad decisions, and about to be LOLpoor.

C'mon - keep up!
infinity ag
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torrid said:

infinity ag said:

torrid said:

All I know is I always had a goal in mind of when I would be able to quit my job. I reached it a few years ago, but by that time it was not nearly enough. I then made a new goal and am getting closer, but even that will probably not be enough.


I reached a major milestone today which is why I thought about this thread. And researched some numbers. I have also reached my "FIRE" number and am in a situation where I enjoy my job, my boss/coworkers are nice, company is good and they treat people well. Most people are white which is probably why it isn't a slave sweatshop like Amazon or Meta. Salaries are lower but who cares, I don't live off my salary anymore.

I urge everyone to please re-evaluate where you are and start to project into the future and plan now. Time is critical.


If I get a pink slip, and it's a very real possibility, standard severance would probably put me past my number. Though a couple years sooner than I planned.

I hate my job and can't leave this place soon enough. To find an equivalent job, assuming I could at my age, I'd have to move to someplace with a very high cost of living.

If I get axed, I'll probably make a half-serious effort to find a professional position locally that at least pays my bills. But I probably won't look too hard.


I've been there, many times and it isn't fun. Good luck to you, I hope things get better. I am in the "better" phase right now, but who has seen tomorrow? I've gone from feeling life was great, everything awesome to losing it all in a single day. Life is like that.

Only thing I say is you have only yourself to depend upon. Don't depend on corporations, job, social security, government, kids, parents. Only yourself. Maybe your spouse (if he/she is responsible).
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YouBet
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aTm2004 said:

backintexas2013 said:

Not sure what life you are living but not everything I do every day is to make money. I have time for myself, gym, hobbies, and even volunteer.

Exactly. Go to the B&I board and it's a different thought process over there. It seems they chase every penny available and give almost zero value to anything else in life. I'm convinced some of them would not pay for a necessary surgery because they could earn another $15,000 over 5 years investing their deductible.


Totally false!!!! One of the biggest threads going is one long discussion on how people think about wealth, when to retire, how to retire, how to maximize life, what's really important, etc.
Logos Stick
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OP, since you believe AI is nothing but hype, I posted your table into Claude Max.

Here is what he said about your table:


Now the assessment.

The $10M row is internally broken that's the clear error. The header says "Net Worth ," which makes the "Americans" column a cumulative top-tail count: how many people are worth at least that much. Such a column must strictly decrease as the threshold climbs, because everyone worth $10M is automatically also worth $9M. But the table goes 1,700,000 at $8M 1,500,000 at $9M back up to 1,700,000 at $10M. You cannot have more people worth $10M than worth $9M. The "% Pop" (0.44% 0.50%) and "1 in X" (227 200) values move the same impossible direction. This is the row TOUCHDOWN! flagged in the thread, and he's right. It's almost certainly a typo where the $10M figure should be smaller than the $9M one something like ~1,200,000 or ~1,300,000.

The whole "Americans" column is mislabeled as cumulative anyway. Even setting the typo aside, the numbers don't behave like a true "" series. If 24M people are worth $1M and 11M are worth $2M, then 13M people sit in the $1M-$2M band, and so on. The differences between consecutive rows are the per-band counts and those are fine as a bucketed reading, but the column then isn't cumulative in the sense the "Cumulative U.S." column tries to be. The table essentially has two competing "cumulative" interpretations and they don't reconcile.

The "Cumulative U.S. %" column doesn't agree with the other columns. This is the bigger structural problem. If 7% of the population is worth $1M (the "% Pop" column and the opening post both say this), then the cumulative share at the $1M line should be ~7%, not 32%. Yet "Cumulative U.S." starts at 32% and falls to 22%, 16%, 12%… These two columns are measuring different things but are placed side by side as if consistent. A "% of population at or above this net worth" can only have one value per row it can't be 7% in one column and 32% in another. So one of them is wrong, or they're labeled misleadingly.

The headline framing is also overstated. The post opens "If your net worth is $1M, there are 24M Americans in your group, ~7%, 1 in 14." The 7% / 1-in-14 / 24M figures are at least mutually consistent (24M / ~340M 7%, and 1/0.07 14). But "7% are millionaires" measured per person including children is misleading millionaire statistics are almost always per household, and roughly 18% of U.S. households have a $1M+ net worth in recent Fed data, while the per-adult share is much lower. The table never declares household vs. individual, which is the exact ambiguity multiple posters called out. So the base figure isn't crazy, but it's presented without the definition that determines whether it's right.

The soft columns are arbitrary, not wrong. "Age Band" (55 climbing to 69) and "Lifestyle Tier" are editorial labels, not data they imply the typical age of someone at each net-worth level, which is plausible directionally (wealth accumulates with age) but isn't sourced and shouldn't be read as fact. "Wealthy / financial" and the truncated "Ultra-high-net-" are just sloppy/cut-off cell text.

Bottom line: the table is wrong in one provable way and misleading in two structural ways. The provable error is the $10M row, where a supposedly cumulative count rises instead of falling mathematically impossible. The structural problems are (1) the "Americans/% Pop" column and the "Cumulative U.S. %" column give two irreconcilable answers for the same thing, and (2) the millionaire share is stated without saying whether it's per-person or per-household, which is the difference between "roughly plausible" and "off by 23." The directional story (fewer people as you go up, exclusivity rises) is fine; the specific numbers don't hold together.



So is he correct or not?
YouBet
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StandUpforAmerica said:

lb3 said:

torrid said:

This is TexAgs. We're all millionaires.

multi-millionaires.

And all of our spouses are 10's.

Gross. My spouse is an 11.
Gnome Sayin
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I'm apart of Texag$ and we still haven't to limit going out to eat and value shop the crap out of groceries.
 
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