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To join America's top 10% of households, a net worth of approximately $2 million is required, according to the Federal Reserve's latest Survey of Consumer Finances (SCF).
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.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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