Connect with us

Hi, what are you looking for?

Money Management

Am I Rich?

Building up your wealth to whatever level you can or see as appropriate is a very personal journey.

If you’re ambitious and you know you want to accomplish more financially than the average American, how much do you actually need to make?

While the journey to success in life is not one you should be comparing yourself to everyone else for, it can be helpful to keep yourself in check. With this in mind, Harness Wealth put together a study to classify the average net worth at any given age. The study used household-wealth data from the Federal Reserve’s 2016 Survey of Consumer Finances.

First of all, the average American household has an income of $97,300. If you want to aim high, the wealthiest 20% of Americans have a median net worth of almost $500,000. To keep things clear, your net worth is what you have after you subtract your liabilities (what you owe) from your assets (what you own). So, having a high income is no guarantee of a high net worth. If your financial habits are sound, you can easily acquire more wealth than someone who currently has a higher income than you. Depending on your age, here are the barriers you need to break to be considered rich. These figures are the median net worth for the wealthiest 20% in a given age group:

18 to 25: $22,750

26 to 30: $82,500

31 to 35: $144,950

36 to 40: $218,400

41 to 45: $379,000

46 to 50: $546,200

51 to 55: $586,470

56 to 60: $998,100

61 to 65: $1,015,350

66 to 70: $852,300

71 to 75: $990,500

76 to 99: $1,003,800

You May Also Like


Peloton, known for their stationary exercise bikes and treadmills, has faced significant financial challenges over the past year. The company experienced a surge in...


Amid the ongoing global supply chain challenges, many retailers in the United States are grappling with surplus seasonal stock, leading to increased storage costs...


With the continuous increase in gas prices, a decrease in consumer confidence, and the ongoing conflict in Ukraine, the European economy faces significant challenges....


As the demand for electric vehicles grows and the push for environmental sustainability increases, automakers are gearing up to focus more on the development...


Today, Brian Armstrong, the CEO of Coinbase, conveyed to his team through a company-wide email that due to declining stock and crypto values and...


Recently, Peiter “Mudge” Zatko, a former cybersecurity specialist at Twitter, published a whistleblowing document on the platform. Zatko highlighted several security issues with Twitter,...


Zelle is a popular peer-to-peer payment service that allows individuals to send and receive money, similar to apps like Venmo. It is widely used,...


Recently, after Chinese President Xi Jinping secured a third term, there was a sharp decline in the stock market in Hong Kong. Investors became...