Nick Maggiulli on LinkedIn: Only 5% of millionaires are under 40. Only 1% are 30 or younger. The… | 15 comments (2024)

Nick Maggiulli

Published Author | Financial Blogger | COO at Ritholtz Wealth

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Only 5% of millionaires are under 40. Only 1% are 30 or younger.The average age of all millionaires is 62.Don't forget this on your way to financial freedom.

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Zael Miransky, CFP, President, CEO

President, CEO - Freeing all Canadian captive advisors/clients. Improving Canadians knowledge of Corporate and Personal taxation, MCO Private Wealth

6mo

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Do you think the 40 yr old with 500k is wealthier than the 60 yr old with a million?

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Joe Fitter 费乔生

Finance Professor / CFO / Finance Director / Controller / Instructional Practitioner

6mo

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Perspective : There are 47 million millionaires on earth. About half 24 million reside in USA. There are 8.1 billion humans on earth. That means millionaires at any level at any age are less than 1/2 of one percent of earthlings. Millennials and Gen Z are very preoccupied with wealth and wealth comparisons (no thanks to the evils of social media)…. Good news. Most of the other 8.05 billion non-millionaires will still do just fine. Wealth is good but good health is #1 !!

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Michael Lynch, CFP®

Personal Finance Expert | Lynch Investment Planning, LLC | Army Veteran

6mo

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Lame…. The 23-year-old snaptock influencer says that I can be a millionaire by 30 if I buy fourplexes

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David A Wilson

Managing Director | Multi-Asset All-Weather Funds | Alternative Investments | Incurable Golfer | Wannabe Chef |

6mo

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Nick Maggiulli I just discovered your writings on slow risk and fast risk. Love it.

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Nick Maggiulli on LinkedIn: Only 5% of millionaires are under 40. 
Only 1% are 30 or younger.
The… | 15 comments (2024)

FAQs

What percentage of millionaires are under 40? ›

How old is the average millionaire and how much do they earn?
Age Group18-2930-39
% of Millionaire Households1.05%5.28%
May 27, 2024

What is the average age of a millionaire? ›

The average millionaire in the United States is actually 61 years old. Back in 1992, the average millionaire was 57, according to Business Insider.

What percentage of people are millionaires in the United States? ›

The United States is home to by far the largest contingent of dollar millionaires: 22 million in 2023, representing 6.6 percent of the country's population.

What is the top 1% net worth for 40 year olds? ›

Top 1% net worth for ages 35-39: $4,034,486.45. Top 1% net worth for ages 40-44: $7,909,636.79. Top 1% net worth for ages 45-49: $10,494,100.10.

How many billionaires under the age of 40? ›

That helps explain why there are only four Forbes 400 members under the age of 40, down from ten a year ago, as four drop out and another three age up. It's the lowest number of under-40 billionaires on the list in at least two decades. They make up just 1% of the list.

What percentage of Americans have a net worth of 5 million? ›

“Somewhere around 4,473,836 households have $4 million or more in wealth, while around 3,592,054 have at least $5 million. Respectively, that is 3.48% and 2.79% of all households in America.”

What are 90% of millionaires? ›

90% of millionaires made their money in Real Estate. I became a millionaire without owning a single property. But I own 6 small businesses that make me $725k/year.

How many $100 millionaires are there in the US? ›

The U.S. has 9,850 centi-millionaires — those worth $100 million or more — compared with China's 2,352. The U.S. has about 788 billionaires to China's 305. “The USA remains the world's undisputed leader in private wealth creation and accumulation,” according to the report.

What age group are most millionaires? ›

The average age of American millionaires rose to 61 in 2022 from 57 in 1992.

What percentage of millionaires are under the age of 35? ›

Millionaires — those who have a net worth of at least $1 million —are, perhaps not surprisingly, on the older end. They're predominantly 55 and older; just 2.4% are under the age of 35.

Is it hard to become a millionaire by 40? ›

“Becoming a millionaire by 40 is not impossible,” said Baruch Silvermann, CEO of The Smart Investor. “But it will require a lot of hard work, dedication and a lot of luck.” That's especially true if you don't get going until you're in your 30s.

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