The Intersection

I recently read that 70% of millionaires don’t feel “rich.” While clearly that’s a subjective measure, it’s something I’ve been thinking about and thought may be worth exploring. 

When it comes to financial ‘success’, we often turn to comparisons, even though that’s a terrible idea! When we define success by comparing it to others, it makes it hard to recognize our own growth.  

So, in the spirit of ‘if you can’t beat them, join them’ let’s look at a few statistics: 

• The median household income in the U.S. for 2024 was just under $84,000. (I’m using median because those darn billionaires are literally skewing the averages). Source: Census.gov 

• In 2022, the median household net worth in the U.S. was just below $200,000. Source: The Fed 

Sometimes we hear questions or comments from clients about where they are in relation to others, financially. Even one of the wealthiest clients I’ve worked with during my career asked me to model a circumstance where they would not have a successful financial outcome. This is a good reminder that feeling financially secure isn't guaranteed at any particular level of wealth. As much as we'd love to leave doubt and comparison at the door when we reach a certain milestone - that's simply not always the case.  

The act of being thoughtful and intentional about your financial situation and seeking support from professional advisors already puts you in a stronger position than most! 

Which brings me to the message that’s been rumbling around in my head for far too long: It’s great to have ambition. It’s great to be successful. It’s normal to have doubts. My hope is that, along the way, we give ourselves the gift of gratitude and the opportunity to appreciate what we have and how far we've come.  

In our client experiences, we often see that true financial happiness and success live at the intersection of good planning and gratitude.