A million is no longer enough

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One of the lesser-known rules of personal finance is that wealth is relative. A net worth of $500,000 might be a fortune in some places and barely enough in others.

That’s why tracking your net worth against the national average and different percentiles can give you a clearer picture of your progress toward financial freedom.

With that in mind, here’s the latest available government data on how much wealth it takes to be in the top 10% of all Americans.

The Federal Reserve is arguably the best source of data on national net worth. It has unmatched insight into how Americans earn, spend, save, invest and borrow.

According to the Federal Reserve’s most recent Survey of Consumer Finances (1), the median American family has a net worth of just $192,900. If your household has more than that, you’re doing better than half of the country.

If your net worth is above $1,063,700, you’re wealthier than the average American. This number is about ten times higher than the median because it is skewed by ultra-wealthy individuals like Jeff Bezos and Mark Zuckerberg.

Still, it’s a useful benchmark. Being a millionaire or billionaire in America puts you ahead of most, and much further ahead than the middle of the pack.

To break into the top 10%, though, you’ll need a net worth of at least $2 million, according to the 2022 survey. That means only one in 10 American households has a net worth above that threshold, and it gets even tighter as you near the top 1%.

This figure has jumped significantly in the past 25 years, driven in large part by the gains in net worth of the super-rich. By comparison, the income cutoff for the top 10% was just $71,846.00 in 1990, or $181,836.05 adjusted for inflation (2).

Moreover, the top 10% hold 67% of total household wealth in the U.S. CNBC reports that the top 0.1% of the rich in the U.S. gained 10% in wealth in 2025, and those with a net worth of at least $46 million have seen their total wealth nearly double, to the tune of $23 trillion+ (3).

So if you’re a multi-millionaire, you can safely consider yourself among the affluent. Your family likely enjoys access to better housing and education than most.

That said, 2022 was a while ago, and this data is likely outdated. If you’re trying to crack the top 10% in 2025 or beyond, you might need to aim a little higher than $2 million.

Read More: Approaching retirement with no savings? Don’t panic, you’re not alone. Here are 6 easy ways you can catch up (and fast)

Every year, America’s wealthiest people tend to get even richer. At the same time, the cost of living keeps rising.

Since 2022, the S&P 500 has jumped roughly 64% (3), boosting the portfolios of many affluent families and potentially raising the bar for the top 10%.

Meanwhile, consumer price inflation (CPI) has averaged about 3.25% annually since 2022, according to Bureau of Labor Statistics data (4). This means cumulative inflation is around 10% over the past three years; your dollar buys 10% less than it did then.

Taking all of this into account, it’s safe to estimate that the current minimum net worth for joining the top 10% sits closer to $2.2 million.

For most Americans — that middle band of median earners — reaching that milestone may take a lifetime of exceptional earnings, diligent saving, savvy investments and successful business ventures. Or even a lucky inheritance.

But you don’t have to do it alone. Finding a good financial planner during the early stages of your search for wealth could make or break joining the multi-millionaire club. Then, once you’re established, you can consider taking advantage of more complex investment and tax instruments.

If you’re looking for advice on how to expand your wealth and meet financial goals like these, one option is to find a trusted financial advisor through [Advisor.com](https://moneywise.com/c/1/410/1777?placement=1).

How it works is simple — just answer a few quick questions about yourself and your finances. Then the platform will match you with up to three experienced and pre-vetted financial professionals to help you develop a plan to grow your wealth and make more informed investment decisions.

The best part? You can view the advisors’ profiles, read past client reviews and schedule an initial consultation for free with no obligation to hire.

While many of the ultra-rich owe their wealth to real estate, stock market gains and other similar assets, most hedge their bet with alternative assets.

In 1999, the S&P 500 peaked, and it took 14 long years to fully recover.

Today, Goldman Sachs is forecasting just 3% annual returns from 2024 to 2034. It sounds bleak but not surprising: the S&P is trading at its highest price-to-earnings ratio since the dot-com boom. Vanguard isn’t far off, projecting around 5%.

That’s why billionaires have long carved out a slice of their portfolios in an asset class with low correlation to the market and strong rebound potential: post-war and contemporary art.

It may sound surprising, but more than 70,000 investors have followed suit since 2019 — through Masterworks. Now you can own fractional shares of works by Banksy, Basquiat, Picasso, and more.

Masterworks has sold 25 artworks so far, yielding net annualized returns like 14.6%, 17.6%, and 17.8%.*

Moneywise readers can get priority access to diversify with art: Skip the waitlist here

*Past performance is not indicative of future returns. Investing involves risk. See important Regulation A disclosures at Masterworks.com/cd

While fine art remains a popular investment for the wealthy, investments in other physical assets tend to shine brighter — like gold.

Gold’s historic run in 2025 shows the power of alternative investments when markets are shaky. In fact, a survey from HSBC found that affluent investors had increased their gold allocations in their portfolios from 5% to 11% in response (5).

While owning physical gold comes with certain drawbacks, including secure storage and illiquidity, you can invest in gold — and get significant tax advantages — by opening a gold IRA with the help of Priority Gold.

Gold IRAs allow investors to hold physical gold or gold-related assets within a retirement account, which combines the tax advantages of an IRA with the protective benefits of investing in gold, making it an attractive option for those looking to potentially hedge their retirement funds against economic uncertainties.

To learn more, you can get a free information guide that includes details on how to get up to $10,000 in free silver on qualifying purchases.

The explosive growth of the real estate market has made many fortunes — especially for the baby boom generation, who hold about half the nation’s homes and are consequently holding $18 to $19 trillion worth of real estate, according to Realtor.com (6). The most expensive of these homes are concentrated on the coasts, including New England, California, and other sunny destinations like Hawaii and Florida.

While the rich may be able to afford several properties, those who are still building their fortunes can find ways to make this market profitable without major upfront investments.

mogul is a real estate investment platform that offers fractional ownership in blue-chip rental properties, which gives investors monthly rental income, real-time appreciation and tax benefits — without the need for a hefty down payment or 3 A.M. tenant calls.

Founded by former Goldman Sachs real estate investors, the mogul team hand-picks the top 1% of single-family rental homes nationwide for you. Simply put, you can invest in institutional quality offerings for a fraction of the usual cost.

Each property undergoes a vetting process, requiring a minimum 12% return even in downside scenarios. Across the board, the platform features an average annual IRR of 18.8%. Their cash-on-cash yields, meanwhile, average between 10 to 12% annually. Offerings often sell out in under three hours, with investments typically ranging between $15,000 and $40,000 per property.

Every investment is secured by real assets, not dependent on the platform’s viability. Each property is held in a standalone Propco LLC, so investors own the property — not the platform. Blockchain-based fractionalization adds a layer of safety, ensuring a permanent, verifiable record of each stake.

Getting started is a quick and easy process. You can sign up for an account and then browse available properties. Once you verify your information with their team, you can invest like a mogul in just a few clicks.

We rely only on vetted sources and credible third-party reporting. For details, see our editorial ethics and guidelines.

The Federal Reserve (1); Don’t Quit Your Day Job (2); CNBC (3); Bureau of Labor Statistics (4); HSBC (5); Realtor.com (6)

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.