Here’s the net worth and income of America’s top 10%. Are you on track to catch up?

Vawn Himmelsbach

6 min read

Even six-figure earners might not feel financially secure if they’re heavily in debt or falling prey to lifestyle inflation.

There’s a difference between high income and high net worth — and there’s a growing gap between the two, according to a U.S. Economic Insight report that Visa released in November 2025.

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“Thanks to a booming stock market, strong real estate values and a resilient dollar, every day in 2024 an estimated 1,000 Americans achieved a net worth — defined as the total value of assets minus debts — of $1 million,” according to Visa. (1)

But $1 million no longer makes you ‘affluent,’ defined as being in the top 10% of U.S. households. Now it requires a net worth of at least $1.8 million or an annual income of $210,000.

So, of 23 million Americans who are millionaires, only 12.2 million qualify as ‘affluent.’

Of those, 57% are Gen Xers. But baby boomers account for 42% of affluent spending, even though they represent only 12% of affluent households,

That could be because affluent boomers “control the bulk of their generation’s $85 trillion-plus in wealth,” according to Visa.

On the other hand, many Gen Xers are struggling with mortgage and student loan debt while caring for children and aging parents.

The bar to enter the realm of the affluent has risen significantly over the past five years as wages and asset prices rise, meaning those who already own homes and stocks are at an advantage.

From 2019 to 2023, the income required to be considered affluent rose 24% as “persistent labor shortages — driven by retiring baby boomers and slower immigration — have fueled strong income growth,” according to Visa.

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This was also driven, in part, by an 83.7% gain in the S&P 500 over five years to the end of December 2024 (2) and a 28% gain in housing prices. (3)

However, these are national averages. The thresholds for affluent income and net worth vary widely across the country based on the purchasing power in different regions.

For example, in California, where prices are 13% higher than the national average, you’ll need an income of about $236,000 per year and a net worth of about $2 million to be considered affluent, according to Visa. On the other hand, in Arkansas, where prices are 13% lower than the national average, you’d need an income of $182,000 and a net worth of $1.6 million. (1)

A higher income makes it easier to pay the bills, save for the future and maybe afford a few luxuries, but net worth is generally considered a better measure of financial stability.

Net worth serves as a safety net you can draw upon if you lose your income or temporarily need more funds than your income provides. For example, a higher net worth can help you better weather life events such as a job loss or health emergency. Once you’ve built sufficient net worth, you can draw on it for income and free yourself from the need to work.

With elevated inflation and high tariffs, it’s become more difficult to increase net worth — so for the 90% of Americans who aren’t currently affluent, an important milestone is to attain an income at which they can feel comfortable.

Even this level is proving hard to attain, as 77% of Americans don’t feel financially secure and 26% believe they need to make $150,000 to live comfortably (4) — more than double the median 2023 income of $60,070 for a full-time worker. (5)

Some Americans — including those earning a decent salary — often misjudge where they stand financially, believing they’re ‘middle class’ even though they earn in the top quartile. This could be a result of overconsumption, not saving enough or failing to invest early enough to build wealth through the power of compounding.

If you’re trying to improve your lot in life, you’ll need to increase your income or your net worth — or both. If you’re aiming to increase your income, can you ask for a raise? If not, how can you work toward a raise or promotion in the future (such as upskilling or reskilling)? You could even speak to your boss about next steps.

If you don’t see any potential for higher earnings at your current job, you may want to consider switching jobs or even careers. You could also consider a second job or side hustle.

You can increase your net worth both by reducing your debt and increasing your assets. It may seem counterintuitive, but paying down debt is the same as investing in an asset that makes the same return as the interest rate on your debt.

To increase your savings, a rule of thumb is to adopt a high savings rate (some top earners save at least 20% of their take-home pay) or hitting high-net-worth benchmarks. Fidelity recommends saving three times your salary by age 40, six times by age 50, eight times by age 60 and 10 times by age 67. (6)

Risk management is an important aspect of becoming wealthy. Make sure your car, your home and your business are properly insured. In many cases, your greatest wealth generator is yourself, so make sure you have appropriate health, disability and critical illness insurance.

Being in the top 10% isn’t only for elites — many disciplined middle-class households can get there with time and the power of compounding.

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We rely only on vetted sources and credible third-party reporting. For details, see our editorial ethics and guidelines.

Visa (1); Yahoo (2); Federal Reserve (3); Bankrate (4); United States Census (5); Fidelity (6)

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

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