Yesterday we reported survey results from Schwab and the WSJ that pegged the threshold for being classified as “rich” or “wealthy” at about $2.5 million.
Just being a millionaire doesn’t make the cut any more.
Source: NY Times
OK, so how many households do make the cut?
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Based on the Fed’s Survey of Consumer Finances…
Only the top 10% of 55 and over households have a net worth over $2 million.
A 45 to 55 household has to be in the top 5% to reach that threshold …. a 35 to 44 household has to be a top “1 percenter”.
Hmm.
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