Anyone have a Net Worth in the 1% by age?

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flaccidsteele
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Anyone have a Net Worth in the 1% by age?

Post by flaccidsteele »

For those who have a NW in the 1%:

1. What is your age?
2. What is your NW (with and without primary residence)?
3. How did you do it?
4. How do you plan to stay in the 1% going forward?

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9-5 Suited
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Re: Anyone have a Net Worth in the 1% by age?

Post by 9-5 Suited »

I guess I can technically answer this until I turn 35 in a few months and get evicted from qualification :D

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JoMoney
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Re: Anyone have a Net Worth in the 1% by age?

Post by JoMoney »

FWIW, most of that data from the Fed Survey of Consumer Finances (SCF) is old and likely current numbers would skew higher.
The data from the most recent SCF, completed in 2019, will likely be available soon.
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Re: Anyone have a Net Worth in the 1% by age?

Post by JohnDindex »

Owning your own business, which I do. It also helps to own a business in an industry where the resell value is high and has a lot of buyers. Many small businesses aren’t worth much, make sure to get into something that has a proven exit.
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Re: Anyone have a Net Worth in the 1% by age?

Post by novemberrain »

flaccidsteele wrote: Sun Sep 13, 2020 2:22 pm For those who have a NW in the 1%:

1. What is your age?
2. What is your NW (with and without primary residence)?
3. How did you do it?
4. How do you plan to stay in the 1% going forward?

Image

Source
Care to mention your own?
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warner25
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Re: Anyone have a Net Worth in the 1% by age?

Post by warner25 »

9-5 Suited wrote: Sun Sep 13, 2020 2:30 pm I guess I can technically answer this until I turn 35 in a few months and get evicted from qualification
Yeah, the numbers really accelerate past 35. I've qualified in my late 20s and early 30s after finishing college debt-free due to an ROTC scholarship, and then saving about 50% of my pay as an active duty military officer. There's no way I can keep up going forward.
Last edited by warner25 on Sun Sep 13, 2020 3:28 pm, edited 2 times in total.
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Re: Anyone have a Net Worth in the 1% by age?

Post by Stinky »

If I was in the 1%, would I post about it in a public forum? :confused
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Re: Anyone have a Net Worth in the 1% by age?

Post by austin757 »

Delete
Last edited by austin757 on Sun Sep 13, 2020 3:27 pm, edited 1 time in total.
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Re: Anyone have a Net Worth in the 1% by age?

Post by willthrill81 »

Most of those who reach the 1% appear to be very successful entrepreneurs and business executives.
“It's a dangerous business, Frodo, going out your door. You step onto the road, and if you don't keep your feet, there's no knowing where you might be swept off to.” J.R.R. Tolkien,The Lord of the Rings
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Re: Anyone have a Net Worth in the 1% by age?

Post by KingRiggs »

I don't compare my portfolio size (among other things) with others.

I'm happy if my portfolio (among other things) is adequate to get the job done. :sharebeer
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austin757
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Re: Anyone have a Net Worth in the 1% by age?

Post by austin757 »

I guess I am based on my age, but it doesn't feel like it. I also think it will be harder to stay in the 1% as I get older.

I also find it interesting that the 18-24 group has a higher NW than 25-29.
Last edited by austin757 on Sun Sep 13, 2020 3:27 pm, edited 1 time in total.
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Re: Anyone have a Net Worth in the 1% by age?

Post by tennisplyr »

Not even close but I'm good. :beer
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Re: Anyone have a Net Worth in the 1% by age?

Post by sunshinenc »

I can tell this is pretty old data by comparing the with-home and without home number. How come a 1% guy in his/her 40s is living a sub 300K house these days? :)
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Re: Anyone have a Net Worth in the 1% by age?

Post by MathWizard »

Only in the top 10% of US, last time I looked, but that put me in the top 1% of the world. Never more than top 20th percentile of US household income, and coming from a family well below the poverty level.

How: frugal nature, invested in education.
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Re: Anyone have a Net Worth in the 1% by age?

Post by Nate7out »

sunshinenc wrote: Sun Sep 13, 2020 3:30 pm I can tell this is pretty old data by comparing the with-home and without home number. How come a 1% guy in his/her 40s is living a sub 300K house these days? :)
He's a boglehead?
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Re: Anyone have a Net Worth in the 1% by age?

Post by 22twain »

sunshinenc wrote: Sun Sep 13, 2020 3:30 pm I can tell this is pretty old data by comparing the with-home and without home number.
The numbers appear to be from here, which uses data from 2016.

https://dqydj.com/net-worth-by-age-calc ... ed-states/

When you hover your mouse along the graph for a specified age group, you can read off the percentile points, including the 99th (top 1%).
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Re: Anyone have a Net Worth in the 1% by age?

Post by 9-5 Suited »

willthrill81 wrote: Sun Sep 13, 2020 3:19 pm Most of those who reach the 1% appear to be very successful entrepreneurs and business executives.
With a small side helping of successful law partners and specialist-field docs. But yep, substantial ownership share of a business, big or small, is almost certainly the most common. As it should be.
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Re: Anyone have a Net Worth in the 1% by age?

Post by willthrill81 »

9-5 Suited wrote: Sun Sep 13, 2020 4:09 pm
willthrill81 wrote: Sun Sep 13, 2020 3:19 pm Most of those who reach the 1% appear to be very successful entrepreneurs and business executives.
With a small side helping of successful law partners and specialist-field docs. But yep, substantial ownership share of a business, big or small, is almost certainly the most common. As it should be.
I found Thomas Stanley's, the author of The Millionaire Next Door books, description of how the entrepreneurial millionaires he studied advised their children regarding their occupations to be highly interesting. Many rightly recognized that their success had a lot to do with being in the right place in the right time as they frequently saw many of their fellow entrepreneurs never succeed. Consequently, most of them advised their children to go into professional services of some sort, where the upside potential was somewhat lower but the risk of outright failure was far lower.
“It's a dangerous business, Frodo, going out your door. You step onto the road, and if you don't keep your feet, there's no knowing where you might be swept off to.” J.R.R. Tolkien,The Lord of the Rings
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Re: Anyone have a Net Worth in the 1% by age?

Post by MathIsMyWayr »

willthrill81 wrote: Sun Sep 13, 2020 4:13 pm
9-5 Suited wrote: Sun Sep 13, 2020 4:09 pm
willthrill81 wrote: Sun Sep 13, 2020 3:19 pm Most of those who reach the 1% appear to be very successful entrepreneurs and business executives.
With a small side helping of successful law partners and specialist-field docs. But yep, substantial ownership share of a business, big or small, is almost certainly the most common. As it should be.
I found Thomas Stanley's, the author of The Millionaire Next Door books, description of how the entrepreneurial millionaires he studied advised their children regarding their occupations to be highly interesting. Many rightly recognized that their success had a lot to do with being in the right place in the right time as they frequently saw many of their fellow entrepreneurs never succeed. Consequently, most of them advised their children to go into professional services of some sort, where the upside potential was somewhat lower but the risk of outright failure was far lower.
+1.
If on a collegiate athletic scholarship, don't major on "sports something" while dreaming of NBA, NFL, MLB,NHL,,,
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Re: Anyone have a Net Worth in the 1% by age?

Post by willthrill81 »

MathIsMyWayr wrote: Sun Sep 13, 2020 4:22 pm
willthrill81 wrote: Sun Sep 13, 2020 4:13 pm
9-5 Suited wrote: Sun Sep 13, 2020 4:09 pm
willthrill81 wrote: Sun Sep 13, 2020 3:19 pm Most of those who reach the 1% appear to be very successful entrepreneurs and business executives.
With a small side helping of successful law partners and specialist-field docs. But yep, substantial ownership share of a business, big or small, is almost certainly the most common. As it should be.
I found Thomas Stanley's, the author of The Millionaire Next Door books, description of how the entrepreneurial millionaires he studied advised their children regarding their occupations to be highly interesting. Many rightly recognized that their success had a lot to do with being in the right place in the right time as they frequently saw many of their fellow entrepreneurs never succeed. Consequently, most of them advised their children to go into professional services of some sort, where the upside potential was somewhat lower but the risk of outright failure was far lower.
+1.
If on a collegiate athletic scholarship, don't major on "sports something" while dreaming of NBA, NFL, MLB,NHL,,,
The risk-adjusted return of pursuing any sports-related career seems to be very low by my estimation.
“It's a dangerous business, Frodo, going out your door. You step onto the road, and if you don't keep your feet, there's no knowing where you might be swept off to.” J.R.R. Tolkien,The Lord of the Rings
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Re: Anyone have a Net Worth in the 1% by age?

Post by MathIsMyWayr »

willthrill81 wrote: Sun Sep 13, 2020 4:24 pm
MathIsMyWayr wrote: Sun Sep 13, 2020 4:22 pm
willthrill81 wrote: Sun Sep 13, 2020 4:13 pm
9-5 Suited wrote: Sun Sep 13, 2020 4:09 pm
willthrill81 wrote: Sun Sep 13, 2020 3:19 pm Most of those who reach the 1% appear to be very successful entrepreneurs and business executives.
With a small side helping of successful law partners and specialist-field docs. But yep, substantial ownership share of a business, big or small, is almost certainly the most common. As it should be.
I found Thomas Stanley's, the author of The Millionaire Next Door books, description of how the entrepreneurial millionaires he studied advised their children regarding their occupations to be highly interesting. Many rightly recognized that their success had a lot to do with being in the right place in the right time as they frequently saw many of their fellow entrepreneurs never succeed. Consequently, most of them advised their children to go into professional services of some sort, where the upside potential was somewhat lower but the risk of outright failure was far lower.
+1.
If on a collegiate athletic scholarship, don't major on "sports something" while dreaming of NBA, NFL, MLB,NHL,,,
The risk-adjusted return of pursuing any sports-related career seems to be very low by my estimation.
?
How are the former students on football scholarships at Washington State University doing after college?
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willthrill81
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Re: Anyone have a Net Worth in the 1% by age?

Post by willthrill81 »

MathIsMyWayr wrote: Sun Sep 13, 2020 4:39 pm
willthrill81 wrote: Sun Sep 13, 2020 4:24 pm
MathIsMyWayr wrote: Sun Sep 13, 2020 4:22 pm
willthrill81 wrote: Sun Sep 13, 2020 4:13 pm
9-5 Suited wrote: Sun Sep 13, 2020 4:09 pm

With a small side helping of successful law partners and specialist-field docs. But yep, substantial ownership share of a business, big or small, is almost certainly the most common. As it should be.
I found Thomas Stanley's, the author of The Millionaire Next Door books, description of how the entrepreneurial millionaires he studied advised their children regarding their occupations to be highly interesting. Many rightly recognized that their success had a lot to do with being in the right place in the right time as they frequently saw many of their fellow entrepreneurs never succeed. Consequently, most of them advised their children to go into professional services of some sort, where the upside potential was somewhat lower but the risk of outright failure was far lower.
+1.
If on a collegiate athletic scholarship, don't major on "sports something" while dreaming of NBA, NFL, MLB,NHL,,,
The risk-adjusted return of pursuing any sports-related career seems to be very low by my estimation.
?
How are the former students on football scholarships at Washington State University doing after college?
I'm not sure about specific universities, but the lion's share of those pursuing sports-related careers aren't athletes themselves. They study majors like sports marketing, sports communication, etc. Beyond that, few of those are student-athletes in college become pro athletes. And even those who do join the pro ranks are often bankrupt within a few years of leaving the pros.
“It's a dangerous business, Frodo, going out your door. You step onto the road, and if you don't keep your feet, there's no knowing where you might be swept off to.” J.R.R. Tolkien,The Lord of the Rings
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Re: Anyone have a Net Worth in the 1% by age?

Post by Godot »

Stinky wrote: Sun Sep 13, 2020 3:14 pm If I was in the 1%, would I post about it in a public forum? :confused
Seriously, what's the point?
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Re: Anyone have a Net Worth in the 1% by age?

Post by unclescrooge »

Stinky wrote: Sun Sep 13, 2020 3:14 pm If I was in the 1%, would I post about it in a public forum? :confused
If you are in the 0.01%, there's a good chance that info is already public info, based on the fact you are management in a public company.

What makes you special?
DVMResident
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Re: Anyone have a Net Worth in the 1% by age?

Post by DVMResident »

I’m not.

Question: are these numbers threshold to be in the 1% or average/median of the 1%?
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Re: Anyone have a Net Worth in the 1% by age?

Post by mnsportsgeek »

I guess I’m in the 1% right now by sheer coincidence, but we also don’t own a home yet so we have down payment money propping us up a bit as far as this chart is concerned. The chart doesn’t really make a lot of sense with 18-24s having a higher net worth than 25-29, so I’m not sure how accurate it is.
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Re: Anyone have a Net Worth in the 1% by age?

Post by MathIsMyWayr »

willthrill81 wrote: Sun Sep 13, 2020 4:42 pm
MathIsMyWayr wrote: Sun Sep 13, 2020 4:39 pm
willthrill81 wrote: Sun Sep 13, 2020 4:24 pm
MathIsMyWayr wrote: Sun Sep 13, 2020 4:22 pm
willthrill81 wrote: Sun Sep 13, 2020 4:13 pm

I found Thomas Stanley's, the author of The Millionaire Next Door books, description of how the entrepreneurial millionaires he studied advised their children regarding their occupations to be highly interesting. Many rightly recognized that their success had a lot to do with being in the right place in the right time as they frequently saw many of their fellow entrepreneurs never succeed. Consequently, most of them advised their children to go into professional services of some sort, where the upside potential was somewhat lower but the risk of outright failure was far lower.
+1.
If on a collegiate athletic scholarship, don't major on "sports something" while dreaming of NBA, NFL, MLB,NHL,,,
The risk-adjusted return of pursuing any sports-related career seems to be very low by my estimation.
?
How are the former students on football scholarships at Washington State University doing after college?
I'm not sure about specific universities, but the lion's share of those pursuing sports-related careers aren't athletes themselves. They study majors like sports marketing, sports communication, etc. Beyond that, few of those are student-athletes in college become pro athletes. And even those who do join the pro ranks are often bankrupt within a few years of leaving the pros.
I am confused. If you use the average career earnings rather than the percentage of students attaining their career goals, you may be right. A small number of players pulling down 10s of millions of dollars a year raise the average quick. However, I feel that college students have a better chance of a successful career by choosing "typical" careers such as medicine, business, law, engineering, science, etc. than sports-related careers.
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Re: Anyone have a Net Worth in the 1% by age?

Post by willthrill81 »

MathIsMyWayr wrote: Sun Sep 13, 2020 5:10 pm
willthrill81 wrote: Sun Sep 13, 2020 4:42 pm
MathIsMyWayr wrote: Sun Sep 13, 2020 4:39 pm
willthrill81 wrote: Sun Sep 13, 2020 4:24 pm
MathIsMyWayr wrote: Sun Sep 13, 2020 4:22 pm
+1.
If on a collegiate athletic scholarship, don't major on "sports something" while dreaming of NBA, NFL, MLB,NHL,,,
The risk-adjusted return of pursuing any sports-related career seems to be very low by my estimation.
?
How are the former students on football scholarships at Washington State University doing after college?
I'm not sure about specific universities, but the lion's share of those pursuing sports-related careers aren't athletes themselves. They study majors like sports marketing, sports communication, etc. Beyond that, few of those are student-athletes in college become pro athletes. And even those who do join the pro ranks are often bankrupt within a few years of leaving the pros.
I am confused. If you use the average career earnings rather than the percentage of students attaining their career goals, you may be right. A small number of players pulling down 10s of millions of dollars a year raise the average quick. However, I feel that college students have a better chance of a successful career by choosing "typical" careers such as medicine, business, law, engineering, science, etc. than sports-related careers.
I agree. I was stating that pursuing majors such as those you listed has a better risk-adjusted return than does any major pertaining to sports.
Last edited by willthrill81 on Sun Sep 13, 2020 8:34 pm, edited 1 time in total.
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Re: Anyone have a Net Worth in the 1% by age?

Post by Xrayman69 »

willthrill81 wrote: Sun Sep 13, 2020 3:19 pm Most of those who reach the 1% appear to be very successful entrepreneurs and business executives.
Agree
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Re: Anyone have a Net Worth in the 1% by age?

Post by deanmoriarty »

- 33 yo
- ~$2.5M liquid (in Vanguard index funds) + ~$2M illiquid startup equity (I effectively count it as $0, but every now and then a secondary market opportunity opens up, and I have actually sold some at the last valuation, hence the $2M paper value)
- No house, I’m a happy renter. I’m too minimalist to own a house. I also don’t own a car.
- I got there by getting highly paid software engineering jobs in tech across startups and big companies, and living like a student. My post-tax living expenses have never exceeded $40k a year, and are usually around $35k
- I don’t plan to keep up with the rat race, which means I’ll get out of the 1% as I age. I’m trying to retire in a cheap country by the time I’m 35 (I’m a dual citizen US/EU, so either Mediterranean Europe or Thailand/Philippines). The last few months have incredibly burned me out, I landed a miserable job that I cannot escape until the 1y mark
Last edited by deanmoriarty on Sun Sep 13, 2020 5:38 pm, edited 3 times in total.
Chuck107
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Re: Anyone have a Net Worth in the 1% by age?

Post by Chuck107 »

Apparently I am about 34 yrs old... I'll take it :beer
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Re: Anyone have a Net Worth in the 1% by age?

Post by AlohaBill »

Didn’t you say you had a net worth of 10 million? Are you bragging here?
daave
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Re: Anyone have a Net Worth in the 1% by age?

Post by daave »

22twain wrote: Sun Sep 13, 2020 4:00 pm The numbers appear to be from here, which uses data from 2016.

https://dqydj.com/net-worth-by-age-calc ... ed-states/
Based on this, I'm a 2%er, not a 1%er at age 32.

Assuming no drastic changes in savings rate or portfolio performance, I'll drop to the 3% bracket at age 35.

Still, good enough for me.

Single income (software engineer), 3 kids. We're reasonably frugal, but not to the lengths of some posters here, we also spent $1.3m on a home to have a short commute, good size yard and be close to family. Wouldn't trade those things for an extra percentage point.
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Re: Anyone have a Net Worth in the 1% by age?

Post by Mr.BB »

willthrill81 wrote: Sun Sep 13, 2020 4:13 pm
9-5 Suited wrote: Sun Sep 13, 2020 4:09 pm
willthrill81 wrote: Sun Sep 13, 2020 3:19 pm Most of those who reach the 1% appear to be very successful entrepreneurs and business executives.
With a small side helping of successful law partners and specialist-field docs. But yep, substantial ownership share of a business, big or small, is almost certainly the most common. As it should be.
I found Thomas Stanley's, the author of The Millionaire Next Door books, description of how the entrepreneurial millionaires he studied advised their children regarding their occupations to be highly interesting. Many rightly recognized that their success had a lot to do with being in the right place in the right time as they frequently saw many of their fellow entrepreneurs never succeed. Consequently, most of them advised their children to go into professional services of some sort, where the upside potential was somewhat lower but the risk of outright failure was far lower.
Bill Gates said he was born at the right time for his success. Just a few years earlier he would of been to early and few years later he would of been behind the curve.
"We are what we repeatedly do. Excellence, then, is not an act, but a habit."
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Re: Anyone have a Net Worth in the 1% by age?

Post by kramer »

I would (and did) retire long before I made it into the top 1%. I could have kept working hard and probably made it, eventually, but I am very happy I chose not to.
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Re: Anyone have a Net Worth in the 1% by age?

Post by Makaveli »

flaccidsteele wrote: Sun Sep 13, 2020 2:22 pm For those who have a NW in the 1%:

1. What is your age?
2. What is your NW (with and without primary residence)?
3. How did you do it?
4. How do you plan to stay in the 1% going forward?
1. 32 YO
2. Sufficient to answer yes, single, renter.
3. Being paid well in O&G, saving 80% of my income for the first 5 years in a rising market environment. Ironically, laid off once with 18 mo severance and bought out once for another 18 mo severance. Hindsight, significant leaps forward.
4. My goal was never to be in the 1% of NW. I save and do the things I enjoy doing, then ruthlessly cut costs on all the excess. I am not sure where that lands me on a go-forward basis but time will tell.
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Re: Anyone have a Net Worth in the 1% by age?

Post by Makaveli »

JoMoney wrote: Sun Sep 13, 2020 2:31 pm FWIW, most of that data from the Fed Survey of Consumer Finances (SCF) is old and likely current numbers would skew higher.
The data from the most recent SCF, completed in 2019, will likely be available soon.
If you are keeping an eye on this would you mind posting once available? If it skews much higher I can edit and remove my post :wink:
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Makaveli
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Re: Anyone have a Net Worth in the 1% by age?

Post by Makaveli »

Godot wrote: Sun Sep 13, 2020 4:43 pm
Stinky wrote: Sun Sep 13, 2020 3:14 pm If I was in the 1%, would I post about it in a public forum? :confused
Seriously, what's the point?
To help others who may be at the start of their journey.

Said by someone who read threads like this eight years ago, when I started mine.
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Re: Anyone have a Net Worth in the 1% by age?

Post by Normchad »

Mr.BB wrote: Sun Sep 13, 2020 6:28 pm
willthrill81 wrote: Sun Sep 13, 2020 4:13 pm
9-5 Suited wrote: Sun Sep 13, 2020 4:09 pm
willthrill81 wrote: Sun Sep 13, 2020 3:19 pm Most of those who reach the 1% appear to be very successful entrepreneurs and business executives.
With a small side helping of successful law partners and specialist-field docs. But yep, substantial ownership share of a business, big or small, is almost certainly the most common. As it should be.
I found Thomas Stanley's, the author of The Millionaire Next Door books, description of how the entrepreneurial millionaires he studied advised their children regarding their occupations to be highly interesting. Many rightly recognized that their success had a lot to do with being in the right place in the right time as they frequently saw many of their fellow entrepreneurs never succeed. Consequently, most of them advised their children to go into professional services of some sort, where the upside potential was somewhat lower but the risk of outright failure was far lower.
Bill Gates said he was born at the right time for his success. Just a few years earlier he would of been to early and few years later he would of been behind the curve.
Curiously, he is the same age as Steve Jobs and Scott McNealy. Larry Ellison did okay though, even though he’s a dozen years older. I think Malcolm Gladwell pointes this out.
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Re: Anyone have a Net Worth in the 1% by age?

Post by iamblessed »

Their are a few on Bogleheads in the 1%
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Re: Anyone have a Net Worth in the 1% by age?

Post by DesertDiva »

Nate7out wrote: Sun Sep 13, 2020 3:35 pm
sunshinenc wrote: Sun Sep 13, 2020 3:30 pm I can tell this is pretty old data by comparing the with-home and without home number. How come a 1% guy in his/her 40s is living a sub 300K house these days? :)
He's a boglehead?
She’s the Millionaire Next Door :D
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Re: Anyone have a Net Worth in the 1% by age?

Post by JackoC »

DVMResident wrote: Sun Sep 13, 2020 4:45 pm Question: are these numbers threshold to be in the 1% or average/median of the 1%?
Assuming the numbers are correct they would be the threshold. Median (50%-tile) net worth is the level where 50% of households are below you, the bottom of the upper 50%. Same with 99%-tile, 99% are below it, it's the bottom of the 'top 1%'.
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Re: Anyone have a Net Worth in the 1% by age?

Post by LadyGeek »

This thread is now in the Personal Finance (Not Investing) forum (net worth).

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