One of the lesser-known rules of personal finance is that wealth is relative. A net worth of $500,000 might be a fortune in some countries and barely enough in others.
That’s why tracking your net worth against the national average and different percentiles can give you a clearer picture of your progress toward financial freedom.
With that in mind, here’s the latest available government data on how much wealth it takes to be in the top 10% of all Americans.
The Federal Reserve is arguably the best source of data on national net worth. It has unmatched insight into how Americans earn, spend, save, invest and borrow.
According to a Washington Post analysis of the Federal Reserve’s 2022 Survey of Consumer Finances, the median American family has a net worth of just $192,900. If your household has more than that, you’re doing better than half of the country.
If your net worth is above $1,063,700, you’re wealthier than the average American. This number is much higher than the median number because it is skewed by ultra-wealthy individuals like Jeff Bezos and Mark Zuckerberg. Still, it’s a useful benchmark — being a millionaire or billionaire in America puts you ahead of most.
To break into the top 10%, though, you’ll need a net worth of at least $2 million, according to the 2022 survey. That means only 1 in 10 American households has a net worth above that threshold.
In other words, if you’re a multimillionaire, you can safely consider yourself among the affluent. Your family likely enjoys access to better housing, education than most.
That said, 2022 was a while ago, and this data is likely outdated. If you’re trying to crack the top 10% in 2025 or beyond, you might need to aim a little higher than $2 million.
Read more: Americans are ‘revenge saving’ to survive — but millions only get a measly 1% on their savings. Here’s how to quickly earn 280% more on your cash
Every year, America’s wealthiest people tend to get even richer. At the same time, the cost of living keeps rising.
Since 2022, the S&P 500 has jumped roughly 64%, boosting the portfolios of many affluent families and potentially raising the bar for the top 10%.
