The Elusive Top Tier: What It Really Takes to Be Among America's Richest The notion that a seven figure net worth guarantees wealth and status has been perpetuated for too long.
However, having $1 million does not ensure entry into the top 10% of American households. According to the Federal Reserve's Survey of Consumer Finances (SCF), the median household boasts a net worth of just $192,900.
Wealth distribution in America is increasingly skewed, as revealed by SCF data showing that only about 1 in 10 households clears the threshold of roughly $2 million to join the top 10%.