Net worth over $20 million

[Anonymous]

Is it true that only 280,000 people in the US have a net worth over $20 million? That seems low. Is that an old figure from before the stock market went bananas?

[Anonymous]

How does that seem low to you? How many gazillionaires do you think there are in this country?

[Anonymous]

Sounds about right to me.

People with net worth over $20M are generally not W-2 wage earners who invested well in the stock market. They are entrepreneurs who made it big, people at the very top of their profession (athlete, singer, actor, lawyer, etc.), business owners, and those with generational family wealth.

[Anonymous]

That’s like 5600 per state in avg. sounds right to me

[Anonymous]

Households or individuals? We're in that category as a household. In Bethesda, where we live, I imagine we're not the only ones.

[Anonymous]

Anonymous wrote:Households or individuals? We're in that category as a household. In Bethesda, where we live, I imagine we're not the only ones.

And contrary to what PP said, it's all stock market success. We're anonymous wage-earners, not entrepreneurs

[Anonymous]

It maybe feels low to you because I am sure the distribution is very clustered.

I bet 90% of those people live in only like 10 metro markets in the US.

[Anonymous]

We surpassed that club years ago. I do agree that number seems dated. 20 million is small beans nowadays.

[Anonymous]

Anonymous wrote:Households or individuals? We're in that category as a household. In Bethesda, where we live, I imagine we're not the only ones.

Well yeah, if there are more than 5,000 per state you would expect a bunch to be in Bethesda.

But if it’s individuals you don’t qualify anyway.

[Anonymous]

Anonymous wrote:We surpassed that club years ago. I do agree that number seems dated. 20 million is small beans nowadays.

same...we're about $10 above that at age 50, and it doesn't seem like that crazy of a number.

[Anonymous]

Anonymous wrote:It maybe feels low to you because I am sure the distribution is very clustered.

I bet 90% of those people live in only like 10 metro markets in the US.

Statewise, it would be Florida, New York and California.

[Anonymous]

OP here. Yes, I realize that these groups are probably clustered in certain areas, but I still don't think 280,000 people could be correct. It has to be way more than that.

[Anonymous]

Yes. And most of them are getting even wealthier.

[Anonymous]

Anonymous wrote:OP here. Yes, I realize that these groups are probably clustered in certain areas, but I still don't think 280,000 people could be correct. It has to be way more than that.

Are you thinking that because of the number of 10 million dollar plus homes and apartments? Then you would have to include millions of foreign investors.

[Anonymous]

There is no way that number is accurate. My modest retirement number is 20M in today’s dollars.