Visa Says You're In The Top 10% Of Households If Your Combined Net Worth Is Above This Number

While social comparison can be a buzzkill, it can also serve as a guidepost for those looking to reach certain savings or earnings goals. While trying to make it into the top 2% of household net worth might be too extreme of a goal, getting into the top 10% could be more doable. According to a November 225 report from Visa Business and Economic Insights (VBEI), households with a net worth of at least $1.8 million, or an annual income of at least $210,000, qualified as among the top 10% in the U.S. in 2024 -– with around 12.2 million households qualifying. It's worth noting that this is a far cry from the $839,000 that Americans think they need to live comfortably, but considerably less than the top 10% affluent net worth of retirees.

Plus, this qualifying threshold has risen considerably in recent years, with the top 10% net worth threshold being $1.3 million in 2019. With this in mind, it's worth considering how your specific geographic region can, and does, impact your top 10% net worth threshold. For example, the VBEI report notes that those living in California face a higher threshold -– $2 million in net worth or $236,000 in annual income -– than residents of lower cost states. In comparison, a net worth of $1.6 million, or $182,000 in annual income, would qualify you as top 10% in Arkansas. With that said, you might be surprised by who makes up the top 10%, and what they spend on.

The VBEI report highlights that those in Generation X (born between 1965 and 1980) have the largest representation among top 10% affluent households -– making up 57% of them. However, due to financial obligations unique to their circumstances -– things like taking care of aging parents while also still having financially dependent children -– they do not comprise the majority of all top 10% affluent spending. Instead, baby boomers (born between 1946 and 1964) make up the highest percentage of affluent spending, at over 40%. Also, in terms of the overall share of affluent spending, top 10% households in the Southern geographic region made up 33% of total affluent spending — the largest spend share — while those in the Western region made up 27% of total affluent spending.

It's also worth considering just how differently top 10% affluent households spend their money compared to the other 90% of U.S. households. The VBEI report notes that those in the top 10% have higher levels of discretionary spending overall –- spending almost three times more than bottom 90% households -– but they also maintain this spending into their later years. A good example of this is that those belonging to the top 10% peak in restaurant spending at age 50, compared to those in the bottom 90% peaking at age 39. The top 10% is also more likely to spend more than the bottom 90% on certain categories every month such as apparel, airline tickets, and lodging.