fbpx

How Rich Do You Think You Are?

Wealth can be defined in many different ways, but classically it is measured through one’s net worth.  Your net worth is simply everything you own versus everything you owe.  The own part of the equation includes real estate, cash, stocks, bonds, 401(k)’s, IRA’s, businesses, and much more.   The owe part of the equation includes mortgage debt, student loan debt, car loans, credit cards, and more.  Once you subtract the liabilities from the assets, you can begin to determine just how rich you really are in today’s day and age.

WHERE DO YOU RANK IN WEALTH
(source: wsj.com)

(If you have a household net worth of X … you rank in the Y percentile):

$50,000 … 60th percentile
$93,000 … 50th percentile
$100,000 … 48th percentile
$200,000 … 34th percentile
$500,000 … 18th percentile
$750,000 … 12th percentile
$827,000 … 10th percentile
$1 million … 8th percentile
$1.4 million … 5th percentile
$6 million … 1st percentile

There is a really cool website http://www.globalrichlist.com/ where you can enter either your income or your basic net worth and it will show where you stand in the United States or even the world.  The chart above only reflects the United States.   In another article we will examine household income, but you better start saving if you want to make the top 1%!

Written by: Ted Jenkin

Request a FREE consultation: www.oxygenfinancial.net

About the author  ⁄ Ted Jenkin @ Your Smart Money Moves

Ted Jenkin @ Your Smart Money Moves

Hey!

My friends and family all think I’m a workaholic, but I say I’m just a guy that loves to help people do better in life.

My mother is still the only one that calls me by my real name Theodore Michael, my wife calls me Teddy, but for the rest of you it is just plain old Ted.

Ever since I was a little kid, I always loved money and being an entrepreneur. In fact, I still have cassette tapes of me talking to my grandmother at the age of five and my mother tells me all the time how much I played with money as a kid...

Read More About Ted Here

Ted Jenkin is a frequent guest columnist for the Wall Street Journal and Headline News Weekend Express. He is the co-CEO of oXYGen Financial. You can follow him on LinkedIn @ www.linkedin.com/in/theceoadvisor or on Twitter @tedjenkin.

Securities offered through Kestra Investment Services, LLC (Kestra IS), member FINRA/SIPC. Investment advisory services offered through Kestra Advisory Services, LLC (Kestra AS), an affiliate of Kestra IS. oXYGen Financial is not affiliated with Kestra IS or Kestra AS. Kestra IS and Kestra AS do not provide tax or legal advice.

The opinions expressed in this commentary are those of the author and may not necessarily reflect those held by Kestra Investment Services, LLC or Kestra Advisory Services, LLC. This is for general information only and is not intended to provide specific investment advice or recommendations for any individual. It is suggested that you consult your financial professional, attorney, or tax advisor regarding your individual situation. 

Background and qualification information is available at FINRA's BrokerCheck website.

7 Comments

Leave a Comment