What’s the net worth you need to have be considered wealthy in 2021

Most Americans say that to be considered “wealthy” in the U.S. in 2021, you need to have a net worth of nearly $2 million — $1.9 million to be exact. 

Wealth expectations also varied by generation, with younger Americans saying they felt that lower net worths could be considered wealthy.

Here’s the net worth each generation says you need to be considered wealthy in 2021:

Millennials (ages 24 to 39): $1.4 million

Gen X (ages 40 to 55): $1.9 million

Baby boomers (ages 56 to 74): $2.5 million A drop in the net worth expectations could be due to the Covid-19 pandemic, according to Schwab.

Over half of Schwab’s 1,000 survey respondents, 53%, reported that they were financially impacted in some way by the pandemic.

Not everyone’s finances were negatively impacted by the global health and economic crisis. Thanks to stimulus payments and reduced spending, some Americans actually increased their savings levels during the pandemic.

Source: Here’s the net worth you need to have be considered wealthy in 2021

They are missing one key point. beyond stimulus (much given to those not in need), in the last 18 months investors large and small have done quite well. Between January 2020 and June 2021 my 401k grew 20% and that’s with 50% in bond funds. That growth potential applies to every American of any age with investments.

If you would like to learn more about net worth in America, here is a good source. Net worth includes many things some of which may not be thought of as an asset. Cash value life insurance and annuities, car, HSA and 529 accounts are assets and, for most people the equity in their home is their largest asset.

HERE IS A THOUGHT to ponder. With the ongoing political attacks on “wealthy” Americans, could the misguided perceptions of being wealthy noted above lead to support for higher taxes on many more Americans than are actually wealthy.


  1. Are you willing to share your 401-K investment mix? Since July 2019, mine has dropped 6% !!! ETF’s have been totally under-performing, and mutual funds have not been the best either… I obviously have the wrong ones…


    1. It’s 38% stable value (bonds) 30% large cap index fund, 13% intermediate bond fund, 12% international develop markets index, 6% mid-cap index. All low cost Vanguard index. Before this year there was a bit more in large cap index.


  2. The narrative is changing from “high income earners” to “wealthy Americans” which will probably lead to a wealth tax for all. In a few decades, I could see where they will taxing everything you own or are paying on. Maybe the Beatles song Taxman is correct, they will tax your feet if you take a walk.

    Congress has forgotten their failed attempted at taxing the rich before. In 1991 they passed a 10% luxury tax on yachts, planes, furs, and jewelry. It last two years after killing the boat building and airplane building industry. I know in NJ, two yacht builders did not survive putting working class people out of work. Some reports are that during that time, the government lost overall tax money that they would have normally gotten from normal sales and that lost money was more than what they actually collected of that extra 10% tax.

    The rich just found other things to buy or took trips out of the country that were not subject to that 10% tax. Today, it is no different for the working classes. In Southern New Jersey, people will drive to Delaware and shop sale tax free. The savings will more than pay for the gas and tolls. And who are the tax cheats? The very people who drive to Delaware. I am sure not one of them report unpaid sale tax to NJ. Its not the rich, who just follow the rules and stopped buying the luxury stuff.


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