You are currently viewing 3 in 4 Americans don’t think they’ll ever achieve high net worth

3 in 4 Americans don’t think they’ll ever achieve high net worth

A new survey commissioned by Personal Capital, an Empower firm, reveals that most adults prioritize a high salary (64%) as the main factor in building wealth. This is where they can leave money on the table.

GREENWOOD VILLAGE, Colo., April 22, 2022 /PRNewswire/ — Among Americans who do not currently consider themselves to be “high” net worth, only 23% believe they are likely to achieve that status, according to a new survey* of 2,209 American adults commissioned by a digital asset manager Personal capitalan Empower company.

The survey, conducted by Morning Consult, reveals perceptions of net worth in honor of National Financial Literacy Month, celebrated throughout April.

“Your net worth is a powerful financial metric because it gives you an overview of your complete financial situation,” says michelle brownstein, Certified Financial Planner and Vice President of the Personal Capital Private Client Group. “This month is a great opportunity to set goals to increase your net worth.”

Americans say the top factors in achieving a “high” net worth are often keeping track of your finances (65%), having a high salary (64%) and earning from multiple sources (63%).

But Brownstein advises looking beyond the hustle culture to boost your net worth.

“Making money is only part of how a person creates wealth,” says Brownstein, who works with high net worth clients with at least $1 million in their wallets. “It is also important to make sure your money is working just as hard for you while you work to earn it.”

While most survey respondents (59%) agree that maintaining a diversified investment portfolio is important, fewer (46%) prioritize maximizing retirement accounts.

It could be to their detriment. Retirement accounts – like 401k plans and IRAs – contribute 55% of the wealth of high net worth individuals, according to anonymized data from the Personal Capital Dashboard**.

“Tax-advantaged retirement accounts are powerful investment tools,” says Brownstein. “As your income grows, be sure to increase contributions to your retirement accounts – don’t let that incoming money sit idle.”

She also suggests clarifying what constitutes your personal net worth; only 35% of Americans are confident they understand what “net worth” means, even though most (91%) have heard of it.

“In many cases, you don’t have to be a wealthy investor to achieve your long-term retirement goals and needs. The key is to make a plan and have a goal you’re working toward” , says Brownstein. . “Most likely, this involves setting a net worth goal that will allow you to maintain your lifestyle in retirement.”

Brownstein recommends Personal Capital’s free service net worth calculator, which aggregates a person’s financial accounts for real-time net worth tracking. Personal Capital’s free tools help 3.3 million US households plan for long-term goals like retirement.

A full overview of the survey results and Brownstein’s insights can be found here. Track your net worth over time with Personal Capital’s free financial tools, available at


This survey was conducted online in United States by Morning Consult on behalf of Personal Capital of March 22-25, 2022, among a sample of 2,209 American adults. Interviews were conducted online and data was weighted to approximate a target sample of adults based on gender, education level, age, race and region. The full survey results have a margin of error of plus or minus 2 percentage points.

** from April 1, 2022. Personal Capital does not independently verify the accuracy or ownership of assets listed on an individual’s dashboard.

About Personal Capital, an Empower Company

Personal Capital is an industry-leading digital wealth management firm that helps people transform their financial lives through technology and advisory services. The company’s advanced technology provides consumers with a holistic financial picture and is used by more than 3 million people to track $1.3 trillion in account assets (at 01/31/22). Its wealth management advisors provide expert advice and personalized strategies, based on a personal understanding of an investor’s financial situation and goals. For more information, visit or connect with us on Facebook, Twitter, LinkedIn or Instagram.

Advisory services are offered for a fee by Personal Capital Advisors Corporation (“PCAC”), an investment adviser registered with the Securities and Exchange Commission. Registration does not imply a certain level of skill or training. Investing involves risk. Past performance is not indicative of future returns. You risk losing money. PCAC is a wholly owned subsidiary of Personal Capital Corporation (“PCC”), an Empower company. PCC is a wholly owned subsidiary of Empower Holdings, LLC. © 2021 Personal Capital Corporation. All rights reserved.

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Rebecca Rickertresponsible for the communication
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SOURCE Personal Capital, an empowerment business

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