Monaco: $12.4 million
Switzerland: $6.6 million
Australia: $5.5 million
New Zealand: $5.2 million
USA: $5.1 million
Ireland: $4.3 million
Singapore: $3.5 million
France: $3.5 million
Hong Kong: $3.4 million
UK: $3.3 million
Italy: $2.6 million
Spain: $2.5 million
Japan: $1.7 million
UAE: $1.6 million
China: $960k


https://www.bloomberg.com/news/articles/2023-05-16/here-s-how-much-wealth-you-need-to-join-the-richest-1-globally?accessToken=eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJzb3VyY2UiOiJTdWJzY3JpYmVyR2lmdGVkQXJ0aWNsZSIsImlhdCI6MTY4NDM2NTk1OCwiZXhwIjoxNjg0OTcwNzU4LCJhcnRpY2xlSWQiOiJSVVJCU1lUMEcxS1cwMSIsImJjb25uZWN0SWQiOiI0QTE0NjgyRTVEQjI0RDgyOEVGOTIxMzA1M0U4NzhDMiJ9.cbfJtr1suybT8Vbz-wLw1AgeKD7WEl-qlZDkcyoWrBI

> USA: $5.1 million
per person, or household?
# close but no cigar / retired / no kids

2%er here

Eat the rich

Annual income?
Net worth?

concordtom said:

---

Annual income?
Net worth?

---

Clearly net worth.

I suspect, when you take into account retirement fund and home equity, most people here are or will be 1% or close to 1% by the time they retire.

The bigger gap is between 0.1% and 1%.

Yes, clearly net worth.
FWIW: Only 588,000 people in the world are in the Top 1%

Net worth.

The numbers are all over the place, this source says that the top 1 percentile in the US is $11M
https://finmasters.com/millionaire-statistics/#how-many

Cal88 said:

---

Net worth.

The numbers are all over the place, this source says that the top 1 percentile in the US is $11M
https://finmasters.com/millionaire-statistics/#how-many

---

Maybe before or after the bear market?

The $5 million bar seems a bit low unless home equity is not included.

Your source (Credit Suisse) clearly says as of 2020.
That's why they're higher.

calbear93 said:

---

Cal88 said:

---

Net worth.

The numbers are all over the place, this source says that the top 1 percentile in the US is $11M
https://finmasters.com/millionaire-statistics/#how-many

---

Maybe before or after the bear market?

The $5 million bar seems a bit low unless home equity is not included.

---

You can use this website to break down net worth by age range, percentage range, average vs median, with or without home equity. These numbers were based on 2020 data.

https://dqydj.com/average-median-top-net-worth-percentiles-by-age/

dajo9 said:

---

2%er here

Eat the rich

---

You should be safe from Antifa.

To be top 1% in 2020, a household needed a net worth of $11,099,166.

Age
Top 1% Net Worth
18-24
$435,076.59
25-29
$606,188.36
30-34
$956,944.74
35-39
$4,034,486.45
40-44
$7,909,636.79
45-49
$10,494,100.10
50-54
$13,524,093.87
55-59
$17,545,848.60
60-64
$14,629,637.13
65-69
$16,439,046.11
70-74
$12,625,305.04
75-79
$12,770,142.25
80+
$9,932,353.20

BearHunter said:

---

calbear93 said:

---

Cal88 said:

---

Net worth.

The numbers are all over the place, this source says that the top 1 percentile in the US is $11M
https://finmasters.com/millionaire-statistics/#how-many

---

Maybe before or after the bear market?

The $5 million bar seems a bit low unless home equity is not included.

---

You can use this website to break down net worth by age range, percentage range, average vs median, with or without home equity. These numbers were based on 2020 data.

https://dqydj.com/average-median-top-net-worth-percentiles-by-age/

---

Thanks. That's interesting and seems more aligned with what I was expecting for the top 1%. One surprise is that the difference with and without home is only about $2M. Most people who are 1% have home equity greater than that from my experience, with a lot of people like me who have done well and retired in their 50s voluntarily having paid off their mortgage before retirement.

One tricky thing about those articles is sometimes they say the average 1%er vs. the floor to be in the 1%. Have to read them closely.

Anyway, I'm claiming extra credit because housing values in New Jersey basically track inflation. It's not like California.

dajo9 said:

---

One tricky thing about those articles is sometimes they say the average 1%er vs. the floor to be in the 1%. Have to read them closely.

Anyway, I'm claiming extra credit because housing values in New Jersey basically track inflation. It's not like California.

---

Average would be much higher, I suspect, as greatly skewed by the multibillionaires in the top 0.1% as opposed to regularly well off folks like you and me.

It would be nice to see by state, too.
Because, yeah, CA is whack with the real estate.

We deserve our own cap-gain tax-exemption category for residents. Or not.

concordtom said:

---

It would be nice to see by state, too.
Because, yeah, CA is whack with the real estate.

We deserve our own cap-gain tax-exemption category for residents. Or not.

---

Or not.

Or you can just pass down to your kids and avoid the capital gains.

calbear93 said:

---

concordtom said:

---

It would be nice to see by state, too.
Because, yeah, CA is whack with the real estate.

We deserve our own cap-gain tax-exemption category for residents. Or not.

---

Or not.

Or you can just pass down to your kids and avoid the capital gains.

---

I'd have to die first for them to get the cost basis step-up.
I know some here might be okay with that, but I'll rank that as at least a second-best option.

concordtom said:

---

calbear93 said:

---

concordtom said:

---

It would be nice to see by state, too.
Because, yeah, CA is whack with the real estate.

We deserve our own cap-gain tax-exemption category for residents. Or not.

---

Or not.

Or you can just pass down to your kids and avoid the capital gains.

---

I'd have to die first for them to get the cost basis step-up.
I know some here might be okay with that, but I'll rank that as at least a second-best option.

---

Don't do anything rash, now! ;-)

cbbass1 said:

---

concordtom said:

---

calbear93 said:

---

concordtom said:

---

It would be nice to see by state, too.
Because, yeah, CA is whack with the real estate.

We deserve our own cap-gain tax-exemption category for residents. Or not.

---

Or not.

Or you can just pass down to your kids and avoid the capital gains.

---

I'd have to die first for them to get the cost basis step-up.
I know some here might be okay with that, but I'll rank that as at least a second-best option.

---

Don't do anything rash, now! ;-)

---

We all die sometimes. Sell losers and harvest tax losses, have a revolving line of credit against your assets, form GRATs to pass on gains while you are alive, and save the big winners for the kids to inherit with a stepped up basis that they didn't get through appreciation of the assets in the expired GRATs.

If there should be a tax reform, it should be the elimination of the step up in basis.

calbear93 said:

---

If there should be a tax reform, it should be the elimination of the step up in basis.

---

I disagree.

Estates receive some inflation protection due to the estate tax exclusion and the step-up in basis at death.
These features also protect against double taxation of savings that had already been taxed as accumulated.

calbear93 said:

---

cbbass1 said:

---

concordtom said:

---

calbear93 said:

---

concordtom said:

---

It would be nice to see by state, too.
Because, yeah, CA is whack with the real estate.

We deserve our own cap-gain tax-exemption category for residents. Or not.

---

Or not.

Or you can just pass down to your kids and avoid the capital gains.

---

I'd have to die first for them to get the cost basis step-up.
I know some here might be okay with that, but I'll rank that as at least a second-best option.

---

Don't do anything rash, now! ;-)

---

We all die sometimes. Sell losers and harvest tax losses, have a revolving line of credit against your assets, form GRATs to pass on gains while you are alive, and save the big winners for the kids to inherit with a stepped up basis that they didn't get through appreciation of the assets in the expired GRATs.

If there should be a tax reform, it should be the elimination of the step up in basis.

---

What's the rate on that line of credit these days? My heloc is killing me at 8%.

dajo9 said:

---

What's the rate on that line of credit these days? My heloc is killing me at 8%.

---

dajo9 said:

---

calbear93 said:

---

cbbass1 said:

---

concordtom said:

---

calbear93 said:

---

concordtom said:

---

It would be nice to see by state, too.
Because, yeah, CA is whack with the real estate.

We deserve our own cap-gain tax-exemption category for residents. Or not.

---

Or not.

Or you can just pass down to your kids and avoid the capital gains.

---

I'd have to die first for them to get the cost basis step-up.
I know some here might be okay with that, but I'll rank that as at least a second-best option.

---

Don't do anything rash, now! ;-)

---

We all die sometimes. Sell losers and harvest tax losses, have a revolving line of credit against your assets, form GRATs to pass on gains while you are alive, and save the big winners for the kids to inherit with a stepped up basis that they didn't get through appreciation of the assets in the expired GRATs.

If there should be a tax reform, it should be the elimination of the step up in basis.

---

What's the rate on that line of credit these days? My heloc is killing me at 8%.

---

Typically securities backed revolver from your private bank based on prime less a discount tiered on your relationship level and amount under management. Generally 200 to 250 basis point lower than prime depending on the amount of securities pledged and ratio of assets to line of credit. Generally no ticking fee. A good way to get cash tax free without selling assets if you believe your returns will outpace the interest on an after tax basis. Right now would not be a good time to draw down against the revolver.

calbear93 said:

---

cbbass1 said:

---

concordtom said:

---

calbear93 said:

---

concordtom said:

---

It would be nice to see by state, too.
Because, yeah, CA is whack with the real estate.

We deserve our own cap-gain tax-exemption category for residents. Or not.

---

Or not.

Or you can just pass down to your kids and avoid the capital gains.

---

I'd have to die first for them to get the cost basis step-up.
I know some here might be okay with that, but I'll rank that as at least a second-best option.

---

Don't do anything rash, now! ;-)

---

We all die sometimes. Sell losers and harvest tax losses, have a revolving line of credit against your assets, form GRATs to pass on gains while you are alive, and save the big winners for the kids to inherit with a stepped up basis that they didn't get through appreciation of the assets in the expired GRATs.

If there should be a tax reform, it should be the elimination of the step up in basis.

---

calbear93 said:

---

concordtom said:

---

Annual income?
Net worth?

---

Clearly net worth.

I suspect, when you take into account retirement fund and home equity, most people here are or will be 1% or close to 1% by the time they retire.

The bigger gap is between 0.1% and 1%.

---

If most people on this board have a net worth of more than $5M then we should have no trouble with coming up with NIL money.

dimitrig said:

---

calbear93 said:

---

concordtom said:

---

Annual income?
Net worth?

---

Clearly net worth.

I suspect, when you take into account retirement fund and home equity, most people here are or will be 1% or close to 1% by the time they retire.

The bigger gap is between 0.1% and 1%.

---

If most people on this board have a net worth of more than $5M then we should have no trouble with coming up with NIL money.

---

Problem is, the Dajo's of this board arent LIQUID. Hence, his need to be involved in a home equity loan at 8%.

calbear93 said:

---

dajo9 said:

---

calbear93 said:

---

cbbass1 said:

---

concordtom said:

---

calbear93 said:

---

concordtom said:

---

It would be nice to see by state, too.
Because, yeah, CA is whack with the real estate.

We deserve our own cap-gain tax-exemption category for residents. Or not.

---

Or not.

Or you can just pass down to your kids and avoid the capital gains.

---

I'd have to die first for them to get the cost basis step-up.
I know some here might be okay with that, but I'll rank that as at least a second-best option.

---

Don't do anything rash, now! ;-)

---

We all die sometimes. Sell losers and harvest tax losses, have a revolving line of credit against your assets, form GRATs to pass on gains while you are alive, and save the big winners for the kids to inherit with a stepped up basis that they didn't get through appreciation of the assets in the expired GRATs.

If there should be a tax reform, it should be the elimination of the step up in basis.

---

What's the rate on that line of credit these days? My heloc is killing me at 8%.

---

Typically securities backed revolver from your private bank based on prime less a discount tiered on your relationship level and amount under management. Generally 200 to 250 basis point lower than prime depending on the amount of securities pledged and ratio of assets to line of credit. Generally no ticking fee. A good way to get cash tax free without selling assets if you believe your returns will outpace the interest on an after tax basis. Right now would not be a good time to draw down against the revolver.

---

The heloc gets paid off when we sell the house this summer. Used it to make the down payment on the new house.

Owning two primary residences for half a year is an expensive endeavor. Some things you do for money. Some things you do with money.

What it takes to be in the Top 1% is wage theft at the bottom, enriching yourself at the top.

dajo9 said:

---

2%er here

Eat the rich

---

1% here. Don't eat me. Too fatty and taste terrible.

BearHunter said:

---

To be top 1% in 2020, a household needed a net worth of $11,099,166.

Age
Top 1% Net Worth
18-24
$435,076.59
25-29
$606,188.36
30-34
$956,944.74
35-39
$4,034,486.45
40-44
$7,909,636.79
45-49
$10,494,100.10
50-54
$13,524,093.87
55-59
$17,545,848.60
60-64
$14,629,637.13
65-69
$16,439,046.11
70-74
$12,625,305.04
75-79
$12,770,142.25
80+
$9,932,353.20

---

interesting that the 55-t0 59 are kicking butt. I would have expect the top to be around retirement age 65-69. Anyone have thoughts why?

BearHunter said:

---

To be top 1% in 2020, a household needed a net worth of $11,099,166.

Age
Top 1% Net Worth
18-24
$435,076.59
25-29
$606,188.36
30-34
$956,944.74
35-39
$4,034,486.45
40-44
$7,909,636.79
45-49
$10,494,100.10
50-54
$13,524,093.87
55-59
$17,545,848.60
60-64
$14,629,637.13
65-69
$16,439,046.11
70-74
$12,625,305.04
75-79
$12,770,142.25
80+
$9,932,353.20

---

So basically 18-24 will be top Portal transfers?

calbear93 said:

---

cbbass1 said:

---

concordtom said:

---

calbear93 said:

---

concordtom said:

---

It would be nice to see by state, too.
Because, yeah, CA is whack with the real estate.

We deserve our own cap-gain tax-exemption category for residents. Or not.

---

Or not.

Or you can just pass down to your kids and avoid the capital gains.

---

I'd have to die first for them to get the cost basis step-up.
I know some here might be okay with that, but I'll rank that as at least a second-best option.

---

Don't do anything rash, now! ;-)

---

We all die sometimes. Sell losers and harvest tax losses, have a revolving line of credit against your assets, form GRATs to pass on gains while you are alive, and save the big winners for the kids to inherit with a stepped up basis that they didn't get through appreciation of the assets in the expired GRATs.

If there should be a tax reform, it should be the elimination of the step up in basis.

---

In CA, get a PRT.

wifeisafurd said:

---

BearHunter said:

---

To be top 1% in 2020, a household needed a net worth of $11,099,166.

---

interesting that the 55-t0 59 are kicking butt. I would have expect the top to be around retirement age 65-69. Anyone have thoughts why?

---

Maybe those people getting ready to retire prior to the 2008 financial crisis never fully recovered They never got back into the game and missed the bull run and just didn't have enough working years left to make up for their losses.

dimitrig said:

---

calbear93 said:

---

concordtom said:

---

Annual income?
Net worth?

---

Clearly net worth.

I suspect, when you take into account retirement fund and home equity, most people here are or will be 1% or close to 1% by the time they retire.

The bigger gap is between 0.1% and 1%.

---

If most people on this board have a net worth of more than $5M then we should have no trouble with coming up with NIL money.

---

i highly doubt most people on the board have a $5M net worth given the broad age range. However, given the collective wealth, if we convert CAL to the mormon church model and graduates have to donate 10%, we're winning the Natty.