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Summary Findings – Net Worth Comparison USA
Old 08-14-2020, 09:52 AM   #1
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Summary Findings – Net Worth Comparison USA

I was quite stunned when I read this. These are NOT large numbers in the grand scheme of things. I am sure most of those here are in the top 5%.

Net Worth USA Percentiles – Top 1%, 5%, 10%, and 50% in Net Worth

The top 1% of net worth in USA in 2020 = $10,500,000
The top 2% of net worth in USA in 2020 = $2,400,000
The top 5% of net worth in USA in 2020 = $1,000,000
The top 10% of net worth in USA in 2020 = $830,000
The top 50% of net worth in USA in 2020 = $507,000

I must admit in this time of continuous doom and gloom, it made me great.

I did not think a Poll would be appropriate as folk would not be comfortable sharing their own position. Feel free to do so in a post.
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Old 08-14-2020, 09:57 AM   #2
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ShokWaveRider, are these numbers for individuals or households?
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Old 08-14-2020, 10:05 AM   #3
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ShokWaveRider, are these numbers for individuals or households?
It did not say, but I would guess that it could be extrapolated to singles or couples or family unit (not including children).
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Old 08-14-2020, 10:09 AM   #4
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How measured? Include home equity?

I presume that defined benefit pensions, SPIAs, the value of SS and deferred income taxes were excluded. I'm guessing that it was per household.
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Old 08-14-2020, 10:12 AM   #5
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How measured? Include home equity?

I presume that defined benefit pensions, SPIAs, the value of SS and deferred income taxes were excluded. I'm guessing that it was per household.
"Net Worth USA Percentiles – Top 1%, 5%, 10%, and 50% in Net Worth"

I include our home in our net worth.
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Old 08-14-2020, 10:16 AM   #6
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I was reading a FRED Blog post earlier today. Makes a good comparison I think, as it depicts how wealth quickly recovers and then increases for one-half of population, even during the Great Recession.
https://fredblog.stlouisfed.org/2020...-on-net-worth/
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Old 08-14-2020, 10:17 AM   #7
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All I can say is that it sure doesn't feel like it.
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Old 08-14-2020, 10:19 AM   #8
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so 500K is the median, what is the mean?
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Old 08-14-2020, 10:21 AM   #9
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What is the source for these numbers?
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Old 08-14-2020, 10:39 AM   #10
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What is the source for these numbers?
Some pundit....

https://www.thekickassentrepreneur.c...alculator-usa/

But it compares favourably with others I have seen.
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Old 08-14-2020, 11:08 AM   #11
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ShokWaveRider, are these numbers for individuals or households?
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Originally Posted by Big_Hitter View Post
so 500K is the median, what is the mean?
Comparing these numbers with those from the Federal Reserve's 2019 survey of consumer finances, I'd say they are referring to average household net worth. The Fed's survey came up with $692k as the average net worth of all households in 2019, and $97k as the median. These net worth figures include all assets, such as home equity, 401(k), savings, etc.

Regardless of the specifics, I agree with @ShokWaveRider that seeing numbers like these does make me feel good about my financial situation. I'm not in the top 1%, but pretty solidly in the top 2. Can't complain.
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Old 08-14-2020, 11:20 AM   #12
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What is the source for these numbers?
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Originally Posted by ShokWaveRider View Post
Some pundit....

https://www.thekickassentrepreneur.c...alculator-usa/

But it compares favourably with others I have seen.
From the article:
Quote:
Population data extracted from US Census. and the statistics bureau,, and wealth stats from Wealthx.
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Old 08-14-2020, 11:32 AM   #13
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Makes me "feel" rich... There numbers sure seem low to me based on other charts and data I've seen... (except maybe the top 1%)
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Old 08-14-2020, 11:47 AM   #14
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Those %’s make me feel rich, but we’re so middle class. I never considered us in that category. How sad for 50% of our population who want to RE. It’d be interesting to know ages that go with the data.
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Old 08-14-2020, 12:04 PM   #15
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Comfortable VS Wealthy.... In Schwab's opinion...

https://www.usatoday.com/story/money...re/5521307002/

"They now believe that, on average, it takes $655,000 to be financially comfortable, down from $934,000 in January, according to Charles Schwab’s 2020 Modern Wealth survey. And they think the minimum benchmark to be considered wealthy is $2 million, down from $2.6 million in January. The survey of 1,000 Americans was conducted for Schwab by Logica Research June 25-July 2."
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Old 08-14-2020, 12:12 PM   #16
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Comfortable VS Wealthy.... In Schwab's opinion...

https://www.usatoday.com/story/money...re/5521307002/

"They now believe that, on average, it takes $655,000 to be financially comfortable, down from $934,000 in January, according to Charles Schwab’s 2020 Modern Wealth survey. And they think the minimum benchmark to be considered wealthy is $2 million, down from $2.6 million in January. The survey of 1,000 Americans was conducted for Schwab by Logica Research June 25-July 2."
LOL, who are they trying to patronize? I hardly consider us Wealthy! No private jets for us. Can we afford a Bentley or a McLaren Car, yes, but that does not make us wealthy.
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Old 08-14-2020, 12:24 PM   #17
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LOL, who are they trying to patronize? I hardly consider us Wealthy! No private jets for us. Can we afford a Bentley or a McLaren Car, yes, but that does not make us wealthy.
From my POV, "as a retiree", I consider 2m as cautiously comfortable.. 10+m as reasonably well off, 25+m as borderline wealthy and 50m as FU money. But that's me...
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Old 08-14-2020, 12:28 PM   #18
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From my POV, "as a retiree", I consider 2m as cautiously comfortable.. 10+m as reasonable well off, 25+m as borderline wealthy and 50m as FU money. But that's me...
+1
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Old 08-14-2020, 12:54 PM   #19
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Originally Posted by Car-Guy View Post
Comfortable VS Wealthy.... In Schwab's opinion...

https://www.usatoday.com/story/money...re/5521307002/

"They now believe that, on average, it takes $655,000 to be financially comfortable, down from $934,000 in January, according to Charles Schwab’s 2020 Modern Wealth survey. And they think the minimum benchmark to be considered wealthy is $2 million, down from $2.6 million in January. The survey of 1,000 Americans was conducted for Schwab by Logica Research June 25-July 2."
Why did you refer to this as "Schwab's Opinion?"
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Old 08-14-2020, 12:56 PM   #20
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Why did you refer to this as "Schwab's Opinion?"
Because it's theirs, not mine.
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