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Mammon Watch: Is Everyone Rich?

September 30, 2024 by sd

From Medium:

To be in the top 10% of the wealthiest Americans, you only need a net worth of $854,000, per Yahoo Finance (this is pretty much everyone who owns a home in CA).

The top 5% have net worths of $1 million and the top 2% have net worths of $2.5 million.

To be part of the famous and “evil” “top 1%,” you only need a net worth of $5.8 million.

My point is that not only are most of the readers of this blog solidly in the top 10%, but almost everyone they know also resides in a top wealth tier.

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