What's Actually In Rich People's Bank Accounts? The Numbers Might Surprise You

Think millionaires keep billions sitting in checking accounts? Think again.

According to Federal Reserve data, the top 10% of Americans have a median bank balance of around $128,000—still way more than the median $8,000 across all checking/savings accounts combined. But here’s the plot twist: most of their wealth isn’t liquid. It’s locked in investments, real estate, and other assets.

Income vs. Wealth: Different Animals

To even qualify for the top tier:

• Top 10%: Need ~$149k/year minimum
• Top 5%: Need ~$353k/year minimum
• Top 1%: Need ~$794k/year minimum

But income ≠ wealth. The richest people think differently about money.

Retirement Savings: Where They Actually Win

The real gap shows up in retirement accounts. The top 10% have a median of over $900,000 saved for retirement, compared to just $87,000 for average households. That’s the compounding effect in action.

How to Catch Up (Even Starting Small)

The secret? Consistency beats intensity. Start with $10/week into index funds. Over 40 years at 7% annual returns, that’s nearly $200k. Use auto-round-up tools to turn coffee purchases into investments without thinking about it.

The wealthy didn’t get there overnight—they just started early and stayed disciplined.