While the ultrawealthy 1% often dominates financial headlines, the real question for most Americans is whether their net worth is comparable to that of their peers. Understanding what it takes to be in the top 10% at your age can provide valuable insight into your financial standing and reveal the milestones for success at different stages of life. Don't Miss: The average American couple has saved this much money for retirement — How do you compare? Are you rich? Here’s what Americans think you
According to a recent survey by Ameriprise Financial, most millionaires don’t consider themselves wealthy. The survey revealed that 60% of investors with $1 million or more in investable assets classify themselves as upper middle class, while 31% identify as middle class. Only 8% of these high-income individuals characterize themselves as wealthy. Marcy Keckler, Senior Vice President of Financial Advice Strategy at Ameriprise, notes, "Many people feel squeezed between higher prices and lower ass
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