00:00Let me verify current figures on this. Roughly 5.6 to 8 million U.S. households hold a net worth
00:06of $3 million or more, depending on which data set and year is used. This represents somewhere
00:12between 4% and 6% of all American households, making it a narrow but not vanishing slice of
00:19the population. 1. DQYDJ Estimate, Federal Reserve SCF-based. 2022-23 data roughly 8,047,570
00:30households have $3 million or more, about 6.13% of all U.S. households. This model interpolates
00:38Fed survey brackets and tends toward the higher end. 2. Finance ban-slash-alternative Fed-derived
00:44estimate asterisk about 5,671,005 households have $3 million or more, covering roughly 4.41%
00:54of all U.S. households. The gap versus the DQYDJ figure comes from different treatment of home
01:00equity and how top-bracket wealth is interpolated, a non-trivial modeling choice, not a data
01:06disagreement. 3. Macromonitor financial assets only measure asterisk by 2022-23. Households
01:14with $3 million or more in financial assets, excluding real estate, totaled about 4.6 million
01:21or 3.2% of households, lower because it strips out home equity, which inflates net worth-based
01:27counts. The answer shifts meaningfully by definition. Net worth includes home, retirement accounts,
01:34business equity, versus investable-slash-financial assets, cash, stocks, bonds, produces a 3-4
01:42million household swing. It also shifts by household size assumption. Per household versus
01:47per adult counts roughly halve or double the headline number. And by year, since equity market
01:53gains pushed 562,000 new millionaires into the U.S. in 2024 alone. None of these figures come from a
02:00single authoritative census. The Fed Survey of Consumer Finances only samples every three years.
02:07So, all $3M specific counts are statistical extrapolations, not direct counts, and should
02:13be treated as estimates with real uncertainty, plus or minus 1 to 2 million households.
02:19Practical takeaway. If you're benchmarking your own wealth, treat $3 million households as roughly
02:264 to 6% of the U.S., i.e., top 5 to 6% territory. But confirm whether the
02:32figure you're citing is net worth
02:34or financial assets only, since that choice alone changes the count by millions.
02:39Finally, remember that everything we discussed today is for educational purposes only and does
02:45not constitute financial advice. Good luck to everyone, and see you in the next video.
