Top 1% Net Worth By Age 40
"As of 2019, the top 1% of household net worth in the U.S. starts at $11,099,166"
What are the easiest ways to achieve this level of NW by age 40?
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Lottery winner sounds pretty easy, I’d go with that.
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Is it me or does $11mm sounds outrageously high? You're telling me 1 in every 100 American, more than 3.3 million people in this country have more than $11mm net worth? Even some high earning bankers and lawyers won't get to that level of wealth (or will get roughly to that level of wealth if they are high performers who save and invest very well) after 15-20 years in their industry and they supposedly have the highest earning power outside of a very thin slice of entrepreneurs, actors, and sports stars.
Apparently Monaco's top 1% networth is $8mm per Bloomberg.
I don't find your source credible. Pic below is from a businessinsider article in 2021 and its' Monaco estimate matches Bloomberg's Monaco estimate. Your source is for 2019. I trust Business Insider and Bloomberg more.
EDIT: OP Looked into it in below comments and the $11mm number comes from dividing the aggregate wealth owned by top 1% by amount of people in 1%. That does not yield a percentile or cut-off rather it is an average heavily skewed by outliers. Figure in below table is probably a lot more accurate.
https://www.investopedia.com/financial-edge/1212/average-net-worth-of-t…;
this was my source
I know I have seen it before but I do not trust it.
What part of the 1% is the "top?"
How are Kiwis so rich? Where does all that wealth come from?
https://www.federalreserve.gov/releases/z1/dataviz/dfa/distribute/table/
According to the Federal Reserve, the top 99.0-99.9 percentile (viz. excluding the top decile of the top 1%) holds $24.45T as of Q3 2022, so really recent.
The US population is 335MM, so 0.9% of that is 3.15MM. These people again control $24.45T, so the average net worth is $7.8MM, but the entry point to 99.0% strictly must be lower than this figure unless everyone has the mean income, so the $11MM figure is strictly impossible if talking about individuals and not households. A frugal investment banker can readily achieve the $7.8MM or greater and still retire earlier than say, age 60. Requires some frugality, but the path is there. Cheers
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