There’s something about the term ‘millionaire’ that still captivates people’s imagination. Even as Forbes released their annual list of the world’s ‘billionaires’ (spoiler alert: Jeff Bezos, $100B), people are still excited about accumulating 1/100th of that amount.
I’ve noticed that many of my top read articles over the last three all have ‘millionaire’ in the title. Maybe as the world’s richest move into billionaire territory, being a simple millionaire is the new level of approachable luxury?!
Here’s a couple of those articles:
Still, getting even to millionaire status is not easy. Only 1 in 10 households meet that mark (total net worth) in the United States today. Here’s a chart from DQYDJ that shows how much wealth you need to fall into certain percentiles (in 2016):
In response to the comments below, I am also adding this interesting chart on income mobility from The Brookings Institute:
Image Credit: Pixabay
MrFireStation 
Hello Mr Fire,
Interesting article and a bit sad to see the broad picture of our combined ability to create net worth. I was able to find some updated information from 2016 with a bit more detail on the top range. You can even calculate your percentile from a link within this article. Have fun seeing where you land.
https://dqydj.com/net-worth-brackets-wealth-brackets-one-percent/
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Thank you, sir- I inserted this updated information into today’s post!
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Millionaire status is fine by me. 🙂
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It’s pretty good on any global level, too!
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These numbers are elusive, Chief. Though the “1%” are pilloried by the left, there is no expert agreement on who actually comprises the 1%. The encouraging data in the Pew Study you posted is 10% of Americans are millionaires! With our population exceeding 320 million, that means 32 million have achieved this significant financial milestone, an indicator of the powerful potential our economy holds for those who apply themselves.
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Another thing the media often misses is that the 1% (or 10%) are not the same group of people as they were a decade or generation ago. In terms of income mobility, one is about as likely to move up from the poorest fifth of Americans, as another is to fall from the highest fifth. https://www.brookings.edu/blog/social-mobility-memos/2016/01/12/how-much-social-mobility-do-people-really-want/amp/
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It’s really a good one you wrote
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