Scott Kerr
All things luxury business :: Host of The Luxury Item podcast :: Adjunct professor in luxury marketing at NYU
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"To break into the hallowed 1%, an American needs $5.8 million, up from last year’s $5.1 million (inflation comes for us all). That places the U.S. fourth globally in terms of assets needed to break ahead of 99% of the population. It’s worth noting that other estimates put the average wealth of the 1% much higher, though it’s calculated differently...The toughest country to join the ranks of the richest? Monaco, where it takes $12.9 million, or more than double what’s required in America. Luxembourg and Switzerland also outpace the U.S., with $10.83 million and $8.5 million needed, respectively, to crack the top 1%."
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Ronald Wood
Owner at RON WOOD PROPERTIES, LLC
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I'm in!!!!
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People1st LLC
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"To break into the hallowed 1%, an American needs $5.8 million, up from last year's $5.1 million (inflation comes for us all). That places the U.S. fourth globally in terms of assets needed to break ahead of 99% of the population. (It's worth noting that other estimates put the average wealth of the 1% much higher, though it's calculated differently.)""The toughest country to join the ranks of the richest? Monaco, where it takes $12.9 million, or more than double what's required in America. Luxembourg and Switzerland also outpace the U.S., with $10.83 million and $8.5 million needed, respectively, to crack the top 1%."
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Noah Sheidlower
Economy Reporter II at Business Insider
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New for Business Insider: Americans need a minimum net worth of $5.8 million to be in the top 1% of US wealth.The new2024 Wealth Reportby property broker Knight Frank found that the cut-off for the top 1% of wealth inMonacois nearly $12.9 million, followed byLuxembourgat $10.8 million andSwitzerlandat $8.5 million. The US was fourth on the list.The number of ultra-high net worth individuals globally is expected to surge by 28% five years from now. Still, Inequality is also continuing to rise between rich and poor countries, World Bank data shows. Countries such as Monaco continue to attract wealthy people due to its tax laws, the report notes.
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Avo Tarakjian
Investor. Trader. CFO. A page dedicated to investors with a longer-term horizon. Delivering outstanding results with the highest level of integrity. Former CFO of major non-profit organizations in California.
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U.S. #Wealth Gains by Percentile 3/31/24.Of the $4.99 trillion gain in net household worth during the first quarter of 2024, $3.61 trillion or 72.34%, went to the top 10% of Americans; $1.25 trillion or 25.06% went to the 50th to 90th percentile; and $130 billion or 2.6% went to the bottom 50%. For the record, the U.S. government does not allocate wealth to any particular group of population. The free market does.Derived from data published by the Federal Reserve, here's how wealth distribution stood on 3/31/2024:
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Christy Kelly CPA, CA, CFP, RRC, MFA-P
Certified Financial Planner
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Americans need a minimum net worth of $5.8 million to be in the top 1% of US wealth. Monaco has the highest net worth cutoff for the top 1% at nearly $12.9 million. The number of ultra-high net worth individuals globally is expected to surge by 28% by 2028.
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Maria Z.
Strategic Financial Coach | Empowering Associates to Independence & Guiding Young Talents to Financial Success |10 Years of Industry Mastery | Executive Director | Simplifying the Path to Growth and Legacy
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Americans need a minimum net worth of $5.8 million to be in the top 1% of US wealth. Monaco has the highest net worth cutoff for the top 1% at nearly $12.9 million. The number of ultra-high net worth individuals globally is expected to surge by 28% by 2028.
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Adam Hurd, CPFA®
Financial Planner | Financial Services Executive
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Americans need a minimum net worth of $5.8 million to be in the top 1% of US wealth. Monaco has the highest net worth cutoff for the top 1% at nearly $12.9 million. The number of ultra-high net worth individuals globally is expected to surge by 28% by 2028.
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Michael Corbett, CFA, CFP®, CTFA
Founder at WealthEQ | Former Navy SEAL | Ambassador at SEAL Foundation | Biofire Advisor
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Americans need a minimum net worth of $5.8 million to be in the top 1% of US wealth. Monaco has the highest net worth cutoff for the top 1% at nearly $12.9 million. The number of ultra-high net worth individuals globally is expected to surge by 28% by 2028.
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Successful Portfolios LLC
135 followers
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Americans need a minimum net worth of $5.8 million to be in the top 1% of US wealth. Monaco has the highest net worth cutoff for the top 1% at nearly $12.9 million. The number of ultra-high net worth individuals globally is expected to surge by 28% by 2028.
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Maxx Soulliere, CFP®
Financial Professional at Osaic Institutions, Inc.
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Americans need a minimum net worth of $5.8 million to be in the top 1% of US wealth. Monaco has the highest net worth cutoff for the top 1% at nearly $12.9 million. The number of ultra-high net worth individuals globally is expected to surge by 28% by 2028.
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TvH Financial
41 followers
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Americans need a minimum net worth of $5.8 million to be in the top 1% of US wealth. Monaco has the highest net worth cutoff for the top 1% at nearly $12.9 million. The number of ultra-high net worth individuals globally is expected to surge by 28% by 2028.
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