What Net Worth Do You Need To Be In America’s Upper Middle And Lower Class?

Most finance experts use income to measure whether you’re in the upper, middle or lower class. But as astute viewers know, net worth is a far better metric to determine this. Because when it comes to building wealth, it’s not what you make that counts. It’s what you keep. So in this video I’ll break down the NET WORTH necessary to be in the 5 different quintiles of wealth in America as designated by the US Census Bureau. And you’ll see exactly what net worth YOU need to be upper, middle, and lower class.

I want to know what you think. Is net worth a better metric for true wealth? Let me know your thoughts down below!

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About ME:
Hello! My name is Matt Matheson. I'm a teacher and school Principal by profession, but my passion is personal finance. After getting married and starting a family, the weight of responsibility hit me hard, so I made it my mission to dive into everything personal finance-related so I could equip myself with the tools to provide my family with a firm financial foundation. I dug into the topic so deeply, I became a personal finance writer and educator, and now it's my passion to share with you all of the strategies I've used to save more, invest wisely, find financial peace, and raise money rock stars!! I hope you'll join me on the channel!

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Disclaimer: I am not a financial advisor. This video, and the ideas presented in it, are for entertainment purposes only and should not be construed as financial advice.

This channel is all about personal finance and how to save money and raise generous kids. I include money tips, money saving tricks, how to save more each month, budgeting tips, how to budget money effectively, parents money tips, financial advice for parents, saving money, easy ways to save money, how to make a budget, ways to save money, financial tips, money saving tips, savings, and budget tips. When it comes to children and finances, financial tips, raising money-wise kids, and college these videos show ways you can save money and live life to the fullest. If you like personal finance and family money tips and money advice for parents, check it out!

[Ammo-Hoarder]

50 now, and everything is paid for. Fortunately, I had a college economics teacher who taught me a lesson when I was 18 years old. That lesson was: you can't buy something else for every purchase you make. Having multiple sources of income is prudent, as is living within your means. I have a 13-year-old vehicle because it is all I need, I like it, and I can do whatever I want with it. My net worth is $6 million, and I can pay my bills without stress, but I don't live like I have that. I have no complaints.

[velayuthman]

A Financial Planner told me Saving at least 15% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. How can one take advantage of compound interest and potentially grow your retirement savings/net-worth to about $3M over time?

[kortyEdna]

The media is currently barraged with a lot of economic data right now. It takes a lot to see beyond the whole ocean of news on focus on what is important, which is that no matter how low stocks go, they always bounce back. I really ignore all the news and keep investing. I recently allocated about $121k to put in the market as we anticipate a crash. Any recommendations?

[generallee]

My friend/mentor told me it’s not about controlling your expenses, it’s about controlling your wants.

[m.f.m.]

My father only taught me one thing about money: "Don't work for your money, make your money work for you." It has served me well.

[kerrynight]

This video was right up my alley. I've always had a low income, but am now worth about $1.7 million. Nobody who knows me casually would ever dream that I had any money at all and that's the way I like it.

[Amelia-Elizabeth]

Nobody can become financially successful over night. They put in background work but we tend to see the finished part. Fear is a dangerous component, hindering us from taking bold steps we need in other to reach our goals.

[KingDavid-jjtk]

I’ve had majority of my holdings of about $2m in tech stocks and irrespective of market changes, I’ve done pretty well especially with apple’s P/E(price to earnings ratio) gaining over 30% this past decade, now my questions is what stocks do you think will be the next apple in terms of growth for the next decade.

[thinkofmorrow]

My first marriage put me in debt with a negative net worth of $150k at age 35. I remarried with my wife having basically $40k of net worth. At age 49 we now have a net worth of $800k and are building $130k a year. Point is don't give up. You can restart and still do well in life.

[chessdad]

While you are driving down the road in your heavily indebted new vehicle filled with $6 gasoline, there is a millionaire going the same direction on his bicycle. LOL.

[KristinPMosher]

I’ve been diligently working, saving and contributing towards financial freedom and early retirement, but the economy so far since the pandemic has eaten away most of my portfolio, what I want to know is this: Do I keep contributing to my portfolio in these unstable markets or do I look into alternative sectors.

[michellewinkler]

Waited 11 years then had kids. Husband ALWAYS did the early day job and I went to work after he came home so we NEVER had daycare expenses or weird people taking care of our kids. ALWAYS only had 1 car payment not 2 (they are both paid off now) NEVER bought anything (except car/house) unless we had the cash to do so. NEVER did a home equity loan, timeshare, etc. When we went on vacation we always went camping and took the kids. When we bought our house it was a total dump in a really nice neighborhood. We bought the HVAC (didn't have one) put in carpet, then waited 6 months of savings before starting the next project, and there were endless amounts of them! We did all the work ourselves (except HVAC, electrical). Our kids are SUPER HANDY because they learned by watching their father do things himself. Never expect your marriage to be perfect. You aren't perfect and neither is your spouce! Married 36 years this year. We started out with a palm tree and a bed on the floor in our 1st apt! TEAMWORK FOLKS, TEAMWORK!

[waltermartinelli]

The retirement fund that my wife and I have built up is doing quite nicely. The majority of the money, which averaged roughly $2 million, was made by taking advantage of the opportunity to purchase luxury stocks at a significant discount during the Great Recession. 2009 saw my stockbroker fired, all of my mutual funds liquidated, and I purchase individual dividend stocks. You can succeed if you are patient, don't panic, and do your homework.

[mushy]

Great content about the wealth zone and investing. I'm a flight attendant. Most people wouldn't imagine a millionaire serving them chicken or beef. Yet here I am 😉

[GillerHeston]

Nobody can become financially successful overnight. They put in background work but we tend to see the finished part. Fear is a dangerous component, hindering us from taking bold steps we need in other to reach our goals. you have to contend with inflation, recession, decisions from the Feds and all. I was able to increase my portfolio by $289k in months. You have to seek for help in the right places.

[quixomega]

I live significantly below my means and save 50% of what I make, I work in the tech industry and do earn 6 figures, but I don't drive a luxury car or eat out for every meal or take more than 1 vacation a year. I think the trick is to just freeze your lifestyle and don't keep increasing your expenses. I've really got everything I care about, I don't need $20, 000 furniture or a giant house. You can't save a lot unless you have a good income, but just having a high income doesn't guarantee a good net worth. Plenty of my co-workers just spend every cent on junk like BMWs.

[Greggsberdard]

I'm wondering if people who went through the financial crisis in 2008 had an easier time than me right now. The stock market is making me really worried because I've lost over $27, 000 in just this month and I'm not making as much money as I used to. This is making me concerned that I might not have enough money saved up for my retirement since I can't add to my savings.

[basementstudio]

Slow and steady is good advice. My wife is a teacher and I'm a mid grade federal employee. We both maxed out out retirement contributions. Now that we're in our 60's we have a net worth of 1.5 million. We lived within our means, raised 2 kids and put them through college. We could have ended up with more but we also wanted to enjoy the journey.

[dougmoore]

We are 66 and 62, my spouse is a bit younger. I am a self employed in sales, my spouse is a early retired accountant. She burned out with corporate stress, just got tired of it.

I am in sales and I enjoy what I do. Our net worth is about 1.5 million as I am a bit surprised to find out. We are blessed to be there.

[genoaoak]

As I drive my 2013 Toyota Corolla with 300k miles on it, I may get a smirk from some guy in an $80k pickup. My house is paid off, $0 credit card debt, six figures in the bank, half a million in my 401k. He probably has $1000 monthly payments on that truck, probably rents his house, has $0 in savings, and lives paycheck to paycheck. I just smirk right back at him.