Could you be (justifiably) a source of envy by others? Are you wealthy?

A great deal of wrath these days seems to target the wealthy although that generally means billionaires or close to it. However, being wealthy is very relative. I suspect many HD readers are looked upon as wealthy by their peers while perhaps not feeling so themselves. I admittedly fall in that trap.

Many comments on HD by those retired indicate to me being relatively wealthy or pretty close to it. 

So, look at the data as estimated as it may be, and see for yourself. Would your friends, neighbors and relatives be justified in viewing you as wealthy - with a touch of envy?

For reference, latest data indicate:

Median household income: 

$80.6k overall:

peaks near $95k (45–64) 

and drops to $57k (65+).

Median net worth: 

$39k (<35) 

$409k (65–74) 

$336k (75+).

Average net worth: 

$183k (<35) 

$1.79M (65–74) 

down to $1.62M (75+).

Overall median net worth: $192.7k; average is $1.06M.

I’d say having a net worth in the 90th percentile makes a person wealthy in most people’s view.

Approximate 90th percentile net worth by age:

Age 45-54 $1.4 million

Age 55-64 $2.2 million

Age 65-74 $2.5 million

Age 75 + $2.00 million

These figures are estimates based on Federal Reserve and Census data, adjusted to 2024 dollars

Recent surveys suggest that a net worth of $2.2 million to $2.5 million is often cited as the threshold for being considered wealthy by the general public. However, this can vary significantly by location and by generation. I say it also depends on what is included In the numbers. If it is mostly one’s home, that makes a difference in my opinion. 

There is a difference between income and net worth of course. Someone can have a high income but not be truly wealthy if they spend it all or have significant debt. Conversely, someone with a modest income but significant assets may be considered wealthy.

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