The Federal Reserve's Survey of Consumer Finances (SCF) indicates that while the median American family has a net worth of $192,900, and the average is $1,063,700, a net worth of roughly $2 million is needed to break into the top 10%. This figure, based on the SCF's most recent release from 2022, highlights how the definition of "wealthy" has evolved, with a seven-figure net worth no longer guaranteeing a spot among the richest households.