The difference between perception and facts is even more pronounced when looking at households with an annual income of more than $500,000. The perception is 19%, the reality is 1%.
And instead of the perception that 35% earn less than $25,000, the reality is 18%.
When it comes to wealth instead of income, roughly 22 million people in the U.S. had a net worth of more than $1 million in 2020, which amounts to about seven percent of the population of the United States.
Out of the 130 million households in the U.S., 13.6 million were considered to have accumulated wealth of more than $1 million, excluding their primary residence, according to data from Spectrem Group.
As of the third quarter of 2021, the top 1% held about 32% of all wealth in the United States, up nine percent from three decades prior.