💰 Net Worth To Be in Upper, Middle & Lower Class 🚨

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Be careful of scammers. In the comments, I will NEVER suggest you contact me, offer any investment products, recommend an adviser or anything similar. Some scammers ask for investment help in the comments and later, other commenters post how "great that idea/investment/person is" in the replies. This is a scam. Do not fall for it.

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MY VIDEOS ARE NOT FINANCIAL ADVICE (Disclaimer):

The decisions on how to invest, when to retire and other financial planning topics are some of the most important financial decisions you will make in your life. I urge you to seek professional financial advice as you make this decision. Ideally from a financial adviser, AND a CPA AND an attorney. Having the perspective of all three professions will help you make the decision that is right for you and your family.

This information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor may NOT be suitable for all investors.

This information is NOT intended to, and should NOT, form a primary basis for any investment decision that you may make. Always consult your own legal, tax, and/or investment advisor before making any investment/tax/estate/financial planning considerations or decisions.

I don't believe in "get rich" programs. Rather, I believe in doing your homework and working with professionals who are a fiduciary to you 100% of the time.

[jimm]

I agree about having an emergency fund first and foremost.
My wife and I have been retired now for 12 + years we retired in our 50's. For us forgoing many things and expensive vacations in our younger years was the key. We spent our money (we both worked full time) on our home. We raised two kids and put them both through college. I was a mechanic and my wife an accountant, neither with a college degree. My advice is buy your home do not rent. Do what it takes to do this. Save as much as you possibly can especially tax defered, and have that emergency fund. Purchase good used car(s) and pay cash if possible. Use credit cards only if you can pay 100% of the balance every month. You will make your life so much better in your later years, and they will come faster than you think.

[CampMore]

I appreciate that you speak kindly of the folks who have had a rough time getting ahead. Thank you for your compassion and supportive videos.

[robedmund]

Delayed gratification, doing without wants (not needs), and discipline are the keys to building wealth. I know people w/o a college degree making $20 an hour who are wealthier than those with serious college debt making $75k and are living beyond their means. People make choices. Sometime they choose to be poor.

[pcappabianca]

I too came from a lower middle class upbringing and was fortunate to have an ROTC scholarship from a respected university. My wife and I both have Masters degrees and continue to work hard in our early 60s. I have 2 reactions, first I would’ve never expected we were so far into the upper quintile. We feel prepared but certainly not wealthy. Secondly, I’ve heard most Americans have not been able to prepare adequately for retirement. Unfortunately, the numbers reveal just how steep the hill is for a lot of families. I’m sure your videos are helpful to many. Thanks!

[bhayward]

I guess my wife and I are categorized as wealthy but I don’t feel like it. My wife and I came from nothing and worked hard to get where we are. We will probably always have enough but I am always worried we won’t. Thanks for the videos and the reminders to save but also live. There is much more to life than money.

[jonathanfoster]

I feel kind of weird being thought of as wealthy because I never had a high income, at 58 I finally hit 70K per year but started at 10K per year in 1983 or the equivalent of 30K today and gradually worked my way up. The thing is I am firmly in the wealthy category by net worth, I plan on being retired at 62 with a 7 figure net worth. The moral I guess is even if you don't make 6 figures you can still move up in net worth over time. I didn't even have to live like a pauper to do it.

[robertstory]

What a sincere guy. Hard to fake that. His compassion for the lower quintile is kind and admirable 🙏🙏🙏

[Patriciacraig]

These are very valuable info for anybody who wants to get rich. Unfortunately, most people who will watch this video will not really be able to apply the principles. We may not want to admit, but as Warren Buffett once said, investing is like any other profession-- it requires a certain level of expertise. No surprise that some people are losing a lot of money in the bear market, while others are making hundreds of thousands in profit. I just don't know how they do it. I have about $109k now to put in the market.

[howarddittrich]

There are many people in middle and upper income bracket that are in the lowest quintile for net worth. Also, there are many in the lower to middle income brackets that have above average net worth. It is not what you make, it is what you spend compared to what you earn!

[HALWG]

These retirement videos are all over the place. A lot say you can't retire on $2 million. Well, maybe if you live in NYC, or San Francisco, or Washington, DC. But if you live in a lower cost of living state it is way more than enough. $250, 000 is definitely low, as is $600, 000 to be considered "upper".

[justjane]

If you live in a city on the US West Coast and have lived in your house for many years and have paid it off, your net worth will make you look like a tycoon, even if you have a paltry income.

[kmccormack]

I'm shocked that the upper middle and upper class numbers aren't higher. I would have thought upper middle would have been $600-700k and upper would be $1.2m to $1.5m.

[GTRrocker]

I am 39 and have a net worth of over $260k in a middle cost of living area, but I do not feel like upper middle class. I drive a really old car, have a modest house, an okay income, but save my butt off and try to keep my expenses low.

[gregmaas]

I'm 56 and fall well into the wealthy category and would have not guessed my net worth would be considered wealthy, but I'll take it. A majority is in 401k and home equity. You're right, it takes time. 20 or 30 years ago it was a different story.

[donovanmic]

Most banks consider “high net worth” to be at least net $1 million in liquid assets (not including house). This would be a bare minimum to be considered wealthy and would be barely upper middle class in many large cities.

[dalepetersen]

The net worth of typical retirees is 250k?? Yikes!! That is not good.

[Stan-Elfrink]

Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money. A trader made over $350k in this recession influenced market.

[Groundedrootshealing]

Wow, those numbers are way lower than i expected. I'm already ahead of the curve at 46.

[abudietrich]

I heard you say that you read the comments, which encouraged me to share that I'm considering using this video as an example in a class on rhetoric, or, basically, speaking and writing to reach an audience. I'm also refreshed by this sort of class-inclusiveness while you also speak gently, with empathy, regarding what people might work on, when they can. Plus, I'm in the age group you mentioned, who are deeper into a career and retirement isn't nigh, but it's more of a thought than it had been . . .

[michellengo]

It’s possible to make a modest income and save $ for retirement. We don’t go to festivals, concerts or football/ basket games. We cook at home and treat ourselves to a restaurant once a month. Go camping, go to parks, walk around the farmer markets are loads of fun.