Net worth over $20 million

[Anonymous]

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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.

Correct...but in the DC area you have an outsized concentration of law partners as an example who can hit that level after just like 7-8 years of partner earnings.

However, outside of DC and NYC and like SF/LA, the BigLaw market is actually much smaller.

DC is also the #5 metro area for F500 HQs. You have Capital One, Hilton, Marriott, Choice, Boeing, etc. 20 HQs in total.

Bullshit. Hitting that number in “7-8” years as a law partner requires earning $3 million a year, spending none of it and paying no taxes.

Dude...you are a bit unhinged...you do realize you don't go from $0 to $3MM per year right? You are earning many hundreds of thousands and maybe over a $1MM for years even before making equity partner, and investing a bunch of that.

That isn’t right. Say you make equity partner in 10 years. You are making $500,000 or less the first five. And probably less than a million for all of it. Most have law school debt and even if they don’t, are saving for a down payment and paying for day care and schools

What do you mean it isn't "right"? Most people making $500k per year can save at least $100k of that...probably even more. Now you are slowly moving up towards $1MM and continuing to save more...assume normal investment returns...now you make equity partner and are making $3MM+ (or maybe $5MM or maybe more). Once you hit partner you are saving like $1MM per year, and again it's all compounding.

So maybe they don't hit a $20MM NW at 8 years...maybe it takes 10 or maybe 12 or 15. The point is you can definitely get there from being a BigLaw partner and DC has an outsized share of BigLaw partners.

Oh ok, now I get it. You were wrong before and you’ve corrected yourself and now say it takes twice as long as you said.

Again…you are strangely hostile over this. Way to miss the forest through the trees.

[Anonymous]

Anonymous wrote:

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.

Did you take a basic statistics course in college? Just curious. If you did go back and look at your notes, I am sure your professor told you guys about outlets median etc.

[Anonymous]

^pp outliers not outlet

[Anonymous]

Does anyone have actual statistics on this?

[Anonymous]

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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.

Correct...but in the DC area you have an outsized concentration of law partners as an example who can hit that level after just like 7-8 years of partner earnings.

However, outside of DC and NYC and like SF/LA, the BigLaw market is actually much smaller.

DC is also the #5 metro area for F500 HQs. You have Capital One, Hilton, Marriott, Choice, Boeing, etc. 20 HQs in total.

Bullshit. Hitting that number in “7-8” years as a law partner requires earning $3 million a year, spending none of it and paying no taxes.

Dude...you are a bit unhinged...you do realize you don't go from $0 to $3MM per year right? You are earning many hundreds of thousands and maybe over a $1MM for years even before making equity partner, and investing a bunch of that.

That isn’t right. Say you make equity partner in 10 years. You are making $500,000 or less the first five. And probably less than a million for all of it. Most have law school debt and even if they don’t, are saving for a down payment and paying for day care and schools

What do you mean it isn't "right"? Most people making $500k per year can save at least $100k of that...probably even more. Now you are slowly moving up towards $1MM and continuing to save more...assume normal investment returns...now you make equity partner and are making $3MM+ (or maybe $5MM or maybe more). Once you hit partner you are saving like $1MM per year, and again it's all compounding.

So maybe they don't hit a $20MM NW at 8 years...maybe it takes 10 or maybe 12 or 15. The point is you can definitely get there from being a BigLaw partner and DC has an outsized share of BigLaw partners.

We know so many big law partners and not one has $20M. I know they are out there, and could guess a few at my old firm, but not in the dozens we are friends with. This includes a few dual partners.

[Anonymous]

It feels low and also I have no idea how this data could even be collected, to be honest. Net Worth includes so many holdings that are not reported to any governing body in a given year unless they are/become taxable (which many are not until a specific event).

[Anonymous]

Anonymous wrote:

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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.

Correct...but in the DC area you have an outsized concentration of law partners as an example who can hit that level after just like 7-8 years of partner earnings.

However, outside of DC and NYC and like SF/LA, the BigLaw market is actually much smaller.

DC is also the #5 metro area for F500 HQs. You have Capital One, Hilton, Marriott, Choice, Boeing, etc. 20 HQs in total.

Bullshit. Hitting that number in “7-8” years as a law partner requires earning $3 million a year, spending none of it and paying no taxes.

Dude...you are a bit unhinged...you do realize you don't go from $0 to $3MM per year right? You are earning many hundreds of thousands and maybe over a $1MM for years even before making equity partner, and investing a bunch of that.

That isn’t right. Say you make equity partner in 10 years. You are making $500,000 or less the first five. And probably less than a million for all of it. Most have law school debt and even if they don’t, are saving for a down payment and paying for day care and schools

What do you mean it isn't "right"? Most people making $500k per year can save at least $100k of that...probably even more. Now you are slowly moving up towards $1MM and continuing to save more...assume normal investment returns...now you make equity partner and are making $3MM+ (or maybe $5MM or maybe more). Once you hit partner you are saving like $1MM per year, and again it's all compounding.

So maybe they don't hit a $20MM NW at 8 years...maybe it takes 10 or maybe 12 or 15. The point is you can definitely get there from being a BigLaw partner and DC has an outsized share of BigLaw partners.

We know so many big law partners and not one has $20M. I know they are out there, and could guess a few at my old firm, but not in the dozens we are friends with. This includes a few dual partners.

You ask your friends their net worth?

I mean…if people decide their kids need to go to boarding school and they only take 5 star vacations and drive $150k cars then they won’t accumulate wealth.

However, an equity partner making $3MM+ can decide they will save $2MM per year and get there quickly with normal stock market returns.

My neighbor retired from Kirkland at 50 and I have to believe has well over $20MM just knowing about their three houses…and no family money.

[Anonymous]

Seems like a low number. Lots of business owners in flyover states have this level of wealth.

[Anonymous]

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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.

Correct...but in the DC area you have an outsized concentration of law partners as an example who can hit that level after just like 7-8 years of partner earnings.

However, outside of DC and NYC and like SF/LA, the BigLaw market is actually much smaller.

DC is also the #5 metro area for F500 HQs. You have Capital One, Hilton, Marriott, Choice, Boeing, etc. 20 HQs in total.

Bullshit. Hitting that number in “7-8” years as a law partner requires earning $3 million a year, spending none of it and paying no taxes.

Dude...you are a bit unhinged...you do realize you don't go from $0 to $3MM per year right? You are earning many hundreds of thousands and maybe over a $1MM for years even before making equity partner, and investing a bunch of that.

That isn’t right. Say you make equity partner in 10 years. You are making $500,000 or less the first five. And probably less than a million for all of it. Most have law school debt and even if they don’t, are saving for a down payment and paying for day care and schools

What do you mean it isn't "right"? Most people making $500k per year can save at least $100k of that...probably even more. Now you are slowly moving up towards $1MM and continuing to save more...assume normal investment returns...now you make equity partner and are making $3MM+ (or maybe $5MM or maybe more). Once you hit partner you are saving like $1MM per year, and again it's all compounding.

So maybe they don't hit a $20MM NW at 8 years...maybe it takes 10 or maybe 12 or 15. The point is you can definitely get there from being a BigLaw partner and DC has an outsized share of BigLaw partners.

We know so many big law partners and not one has $20M. I know they are out there, and could guess a few at my old firm, but not in the dozens we are friends with. This includes a few dual partners.

You're responding to a known weirdo who likes to calculate how people can hoard wealth if they live frugally with their high salaries. That poster always needs to be reminded that people earning a lot are by and large NOT frugal. They buy several homes, indulge in luxury travel, pay for expensive privates for their multiple kids, and if very foolish, cheat on their wives and end up with very painful child support and alimony.

So no, lots of high earners do not have the very high net worth that others might expect.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

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Anonymous wrote:

Anonymous wrote:

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.

Correct...but in the DC area you have an outsized concentration of law partners as an example who can hit that level after just like 7-8 years of partner earnings.

However, outside of DC and NYC and like SF/LA, the BigLaw market is actually much smaller.

DC is also the #5 metro area for F500 HQs. You have Capital One, Hilton, Marriott, Choice, Boeing, etc. 20 HQs in total.

Bullshit. Hitting that number in “7-8” years as a law partner requires earning $3 million a year, spending none of it and paying no taxes.

Dude...you are a bit unhinged...you do realize you don't go from $0 to $3MM per year right? You are earning many hundreds of thousands and maybe over a $1MM for years even before making equity partner, and investing a bunch of that.

That isn’t right. Say you make equity partner in 10 years. You are making $500,000 or less the first five. And probably less than a million for all of it. Most have law school debt and even if they don’t, are saving for a down payment and paying for day care and schools

What do you mean it isn't "right"? Most people making $500k per year can save at least $100k of that...probably even more. Now you are slowly moving up towards $1MM and continuing to save more...assume normal investment returns...now you make equity partner and are making $3MM+ (or maybe $5MM or maybe more). Once you hit partner you are saving like $1MM per year, and again it's all compounding.

So maybe they don't hit a $20MM NW at 8 years...maybe it takes 10 or maybe 12 or 15. The point is you can definitely get there from being a BigLaw partner and DC has an outsized share of BigLaw partners.

We know so many big law partners and not one has $20M. I know they are out there, and could guess a few at my old firm, but not in the dozens we are friends with. This includes a few dual partners.

You're responding to a known weirdo who likes to calculate how people can hoard wealth if they live frugally with their high salaries. That poster always needs to be reminded that people earning a lot are by and large NOT frugal. They buy several homes, indulge in luxury travel, pay for expensive privates for their multiple kids, and if very foolish, cheat on their wives and end up with very painful child support and alimony.

So no, lots of high earners do not have the very high net worth that others might expect.

Several homes alone are probably worth $8-$10MM. Are we talking investable cash or net worth?

[Anonymous]

Anonymous wrote:

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

That’s what I’m saying. It has to be wrong.

You are in a bubble, high NW individuals often are. Do you also not believe the stats that vast majority of American households don't have enough savings to last 6 months if they lose a job?

[Anonymous]

Anonymous wrote:

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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.

Correct...but in the DC area you have an outsized concentration of law partners as an example who can hit that level after just like 7-8 years of partner earnings.

However, outside of DC and NYC and like SF/LA, the BigLaw market is actually much smaller.

DC is also the #5 metro area for F500 HQs. You have Capital One, Hilton, Marriott, Choice, Boeing, etc. 20 HQs in total.

Bullshit. Hitting that number in “7-8” years as a law partner requires earning $3 million a year, spending none of it and paying no taxes.

Dude...you are a bit unhinged...you do realize you don't go from $0 to $3MM per year right? You are earning many hundreds of thousands and maybe over a $1MM for years even before making equity partner, and investing a bunch of that.

That isn’t right. Say you make equity partner in 10 years. You are making $500,000 or less the first five. And probably less than a million for all of it. Most have law school debt and even if they don’t, are saving for a down payment and paying for day care and schools

What do you mean it isn't "right"? Most people making $500k per year can save at least $100k of that...probably even more. Now you are slowly moving up towards $1MM and continuing to save more...assume normal investment returns...now you make equity partner and are making $3MM+ (or maybe $5MM or maybe more). Once you hit partner you are saving like $1MM per year, and again it's all compounding.

So maybe they don't hit a $20MM NW at 8 years...maybe it takes 10 or maybe 12 or 15. The point is you can definitely get there from being a BigLaw partner and DC has an outsized share of BigLaw partners.

We know so many big law partners and not one has $20M. I know they are out there, and could guess a few at my old firm, but not in the dozens we are friends with. This includes a few dual partners.

You're responding to a known weirdo who likes to calculate how people can hoard wealth if they live frugally with their high salaries. That poster always needs to be reminded that people earning a lot are by and large NOT frugal. They buy several homes, indulge in luxury travel, pay for expensive privates for their multiple kids, and if very foolish, cheat on their wives and end up with very painful child support and alimony.

So no, lots of high earners do not have the very high net worth that others might expect.

Several homes alone are probably worth $8-$10MM. Are we talking investable cash or net worth?

You assume these people don't have debt and these homes are paid off. Even if they are, there is a huge expense that never goes away that's required to keep multiple homes.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

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.

Correct...but in the DC area you have an outsized concentration of law partners as an example who can hit that level after just like 7-8 years of partner earnings.

However, outside of DC and NYC and like SF/LA, the BigLaw market is actually much smaller.

DC is also the #5 metro area for F500 HQs. You have Capital One, Hilton, Marriott, Choice, Boeing, etc. 20 HQs in total.

Bullshit. Hitting that number in “7-8” years as a law partner requires earning $3 million a year, spending none of it and paying no taxes.

Dude...you are a bit unhinged...you do realize you don't go from $0 to $3MM per year right? You are earning many hundreds of thousands and maybe over a $1MM for years even before making equity partner, and investing a bunch of that.

That isn’t right. Say you make equity partner in 10 years. You are making $500,000 or less the first five. And probably less than a million for all of it. Most have law school debt and even if they don’t, are saving for a down payment and paying for day care and schools

What do you mean it isn't "right"? Most people making $500k per year can save at least $100k of that...probably even more. Now you are slowly moving up towards $1MM and continuing to save more...assume normal investment returns...now you make equity partner and are making $3MM+ (or maybe $5MM or maybe more). Once you hit partner you are saving like $1MM per year, and again it's all compounding.

So maybe they don't hit a $20MM NW at 8 years...maybe it takes 10 or maybe 12 or 15. The point is you can definitely get there from being a BigLaw partner and DC has an outsized share of BigLaw partners.

We know so many big law partners and not one has $20M. I know they are out there, and could guess a few at my old firm, but not in the dozens we are friends with. This includes a few dual partners.

You're responding to a known weirdo who likes to calculate how people can hoard wealth if they live frugally with their high salaries. That poster always needs to be reminded that people earning a lot are by and large NOT frugal. They buy several homes, indulge in luxury travel, pay for expensive privates for their multiple kids, and if very foolish, cheat on their wives and end up with very painful child support and alimony.

So no, lots of high earners do not have the very high net worth that others might expect.

I don't know that high earners "by and large [are] NOT frugal". Some of us in the law in particular want out as fast as possible, and we had a sizeable networth before even making partner. A couple of years where you can keep throwing $1-2m into your portfolio on top of millions you already have at work can get you to big numbers fast. I have no idea how much other high earners save, but I agree that the ones who cheat on their wives and are paying alimony and child support and private school tuition are probably not doing so well.

[Anonymous]

Anonymous wrote:Here is what AI says:

Here's a breakdown of the available information:
Ultra-High-Net-Worth (UHNW): Defined as having a net worth of $30 million or more, the U.S. had 426,330 UHNW individuals in 2024, according to Altrata's World Ultra Wealth Report.

Households with $20 Million+ Investable Assets: A Reddit post from July 2025 cited 284,200 U.S. households with investable assets of $20 million or higher.

So, both could be correct...notice how the July 2025 post says 284,200 have investable assets of $20MM+. That likely excludes house equity, equity in private businesses, etc.

How did they collect data? Looking at bank and brokerage account balances? Where does this data come from?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

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.

Correct...but in the DC area you have an outsized concentration of law partners as an example who can hit that level after just like 7-8 years of partner earnings.

However, outside of DC and NYC and like SF/LA, the BigLaw market is actually much smaller.

DC is also the #5 metro area for F500 HQs. You have Capital One, Hilton, Marriott, Choice, Boeing, etc. 20 HQs in total.

Bullshit. Hitting that number in “7-8” years as a law partner requires earning $3 million a year, spending none of it and paying no taxes.

Dude...you are a bit unhinged...you do realize you don't go from $0 to $3MM per year right? You are earning many hundreds of thousands and maybe over a $1MM for years even before making equity partner, and investing a bunch of that.

That isn’t right. Say you make equity partner in 10 years. You are making $500,000 or less the first five. And probably less than a million for all of it. Most have law school debt and even if they don’t, are saving for a down payment and paying for day care and schools

What do you mean it isn't "right"? Most people making $500k per year can save at least $100k of that...probably even more. Now you are slowly moving up towards $1MM and continuing to save more...assume normal investment returns...now you make equity partner and are making $3MM+ (or maybe $5MM or maybe more). Once you hit partner you are saving like $1MM per year, and again it's all compounding.

So maybe they don't hit a $20MM NW at 8 years...maybe it takes 10 or maybe 12 or 15. The point is you can definitely get there from being a BigLaw partner and DC has an outsized share of BigLaw partners.

We know so many big law partners and not one has $20M. I know they are out there, and could guess a few at my old firm, but not in the dozens we are friends with. This includes a few dual partners.

You're responding to a known weirdo who likes to calculate how people can hoard wealth if they live frugally with their high salaries. That poster always needs to be reminded that people earning a lot are by and large NOT frugal. They buy several homes, indulge in luxury travel, pay for expensive privates for their multiple kids, and if very foolish, cheat on their wives and end up with very painful child support and alimony.

So no, lots of high earners do not have the very high net worth that others might expect.

I don't know that high earners "by and large [are] NOT frugal". Some of us in the law in particular want out as fast as possible, and we had a sizeable networth before even making partner. A couple of years where you can keep throwing $1-2m into your portfolio on top of millions you already have at work can get you to big numbers fast. I have no idea how much other high earners save, but I agree that the ones who cheat on their wives and are paying alimony and child support and private school tuition are probably not doing so well.

The other thing about the law is that you often have Big Law partners who did not grow up rich and aren't used to that lifestyle so do just sock away money living essentially a very middle class life. I would guess there are some medical specialists that are the same way.