Being a millionaire isn’t enough to join America’s top 10% — here’s the net worth it actually takes to be in the top

Being a millionaire isn’t enough to join America’s top 10% — here’s the net worth it actually takes to be in the top

Clay Halton

Sun, September 13, 2026 at 7:45 PM GMT+3 10 min read

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Having $1 million to your name is a major financial milestone. But in America today, it doesn't put you nearly as close to the top as you might think.

In fact, the average American now believes they'll need $1.46 million just to retire comfortably, according to Northwestern Mutual's 2026 Planning & Progress Study (1). Among Americans who already have more than $1 million in investable assets, that figure jumps to $2.67 million.

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That's a striking reminder of how much the definition of "wealthy" has changed. A seven-figure net worth may make you a millionaire, but it doesn't necessarily make you one of America's richest households.

So, where does the top 10% actually begin?

The Federal Reserve's Survey of Consumer Finances (SCF) provides one of the clearest benchmarks for answering that question. And it shows just how wide the gap has become between the typical American household and those at the top.

The $2 million line separating the top 10%

According to the Federal Reserve's most recent release of the SCF, the median American family has a net worth of just $192,900 (2).

If your household has more than that, you're already doing better than half of the country.

But that's only the median net worth. The average household net worth is $1,063,700, meaning you're wealthier than the average American if you're worth more. This number is considerably higher than the median because averages can be skewed upward by the enormous fortunes held by the country's wealthiest households.

To break into the top 10%, though, you'll need a net worth of roughly $2 million, according to the SCF. That means only about 1 in 10 American households clears that threshold.

And wealth becomes much more concentrated from there.

This figure has jumped significantly in the past 25 years, driven in large part by the gains in net worth of the ultrawealthy. By comparison, the income cutoff for the top 10% was just $71,846 in 1990, or $181,836 adjusted for inflation (3).

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 since the pandemic, those with a net worth of at least $46 million saw their wealth almost double, to the tune of over $23 trillion in total (4).

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

Read More: Vanguard reveals what's coming for U.S. stocks — and it could be bad news for this group of investors

The bar for being wealthy keeps moving

Since the Federal Reserve's most recent SCF was conducted in 2022, a lot has happened to household balance sheets.

Stock prices have climbed substantially, lifting the value of retirement accounts and investment portfolios. The S&P 500 entered September 2026 up another 12.3% for the year, even after posting strong gains in recent years (5).

Those gains have disproportionately benefited households that already own significant financial assets. Federal Reserve data show that stocks and mutual funds make up an especially large portion of the wealth controlled by households near the top.

Meanwhile, consumer price inflation (CPI) has averaged about 3.25% annually since 2022, according to U.S. Bureau of Labor Statistics data (6), raising the amount Americans need to maintain the same standard of living.

That combination makes the $2 million figure something of a moving target. It remains the latest official cutoff available from the SCF, but someone trying to reach the top 10% today may ultimately need more once newer survey data establish an updated threshold.

Build a plan for reaching the next wealth tier

For most Americans, reaching the top 10% won't happen through one lucky investment. It typically requires years of saving, investing and accumulating assets — while avoiding financial setbacks that can eat away at the progress you've already made.

And as your net worth grows, managing it can become more complicated. Decisions about how much to invest, where to put it, how much risk to take and how to prepare for retirement can all affect how quickly you make progress toward your long-term goals.

That's where professional guidance may be useful, especially for investors with larger portfolios. In these cases, managing withdrawals, minimizing tax exposure and ensuring long-term sustainability often requires greater coordination and strategic planning.

Working with a financial advisor can help reduce costly mistakes.

For instance, if you have a portfolio of $250,000 or more, platforms like WiserAdvisor can connect you with vetted professionals who specialize in this kind of planning.

Simply answer a few questions about your savings, retirement timeline and overall investment portfolio. From there, WiserAdvisor reviews its network to match you — for free — with up to three vetted, reputable advisors aligned with your specific needs.

You can then schedule no-obligation consultations with your matches to determine who is the best fit for your long-term goals.

WiserAdvisor is a matching service and does not provide financial advice directly. All matched advisors are third parties, and specific financial results are not guaranteed.

Put more of your money to work

Professional advice isn't the only route. For investors who prefer to make their own decisions, consistently putting money into the market can be another part of building net worth over the long term.

That doesn't require picking the next trillion-dollar company. Diversified funds can spread your money across dozens or even hundreds of companies, while individual stocks give investors the option to take positions in businesses they believe have room to grow.

For those who want to manage those investments themselves, an online brokerage can provide a simple place to start.

SoFi is an easy-to-use DIY investing platform that lets you ⁠buy stocks, ETFs and more with no commission fees and no account minimums.

SoFi is designed for both beginners and seasoned investors, with real-time investing news, curated content and the data you need to make smart decisions about the stocks that matter most to you.

Plus, for a limited time you can ⁠get up to $1,000 in stock when you fund a new account.

Look beyond stocks for ways to build wealth

Stocks aren't the only assets sitting on the balance sheets of wealthy Americans.

Real estate is another major component of household wealth, whether that comes from a primary residence or investment properties. But buying an entire rental property can require a large up-front investment, and ownership comes with responsibilities that simply buying a stock or fund often doesn't.

Fractional real estate investing offers an alternative route for investors who want exposure to this asset class without becoming a traditional landlord.

That's where mogul comes in. This real estate investment platform 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 handpicks 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% and 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.

Protect the wealth you've already built

Building a large net worth is only half the equation. Once you've accumulated substantial assets, diversification can become increasingly important.

Holding investments that respond differently to inflation, interest rates and market swings can help reduce dependence on any single part of a portfolio. Gold has traditionally played that role for some investors because its value isn't directly tied to the performance of stocks or bonds.

If you're curious about adding precious metals to your broader inflation-hedging strategy, a gold IRA from Goldco lets you hold physical gold and other metals while still getting the tax advantages of an IRA.

Goldco is widely regarded as one of the leading companies in the space, with a 4.8/5 rating on Trustpilot and an A+ from the Better Business Bureau. They also offer a guaranteed buyback program, meaning they'll repurchase your metals at the highest price according to market value if you ever decide to sell.

If you want to explore whether precious metals could be a helpful hedge for your portfolio, you can download Goldco's free gold and silver guide to see if it's a good fit for you.

Don't overlook the cash sitting on the sidelines

Not every dollar contributing to your net worth needs to be invested in stocks, real estate or alternative assets.

Keeping some money in cash can provide liquidity for emergencies, major purchases or investment opportunities without forcing you to sell other assets at an inconvenient time. But where that cash sits matters, particularly when the difference between the interest rates offered by different accounts can be substantial.

A high-yield account like a Wealthfront Cash Account can be a great place to grow your uninvested cash, offering both competitive interest rates and easy access to your money when you need it.

A Wealthfront Cash Account currently offers a base APY of 3.30% through program banks, and new clients can get an extra 0.75% boost during their first three months on up to $150,000 for a total variable APY of 4.05%.

That's 10 times the national deposit savings rate, according to the FDIC's July report.

Additionally, Wealthfront is offering new clients who enable direct deposit ($1,000/month minimum) to their Cash Account and open and fund a new investment account an additional 0.25% APY increase with no expiration date or balance limit, meaning your APY could be as high as 4.30%.

With no minimum balances or account fees, as well as 24/7 withdrawals and free domestic wire transfers, your funds remain accessible at all times. Plus, you get access to up to $8 million FDIC Insurance eligibility through program banks.

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Northwestern Mutual (); Board of Governors of the Federal Reserve System (); DQYDJ (); CNBC (); S&P Global (); U.S. Bureau of Labor Statistics ()

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