What is the difference between mass affluent and affluent?

Popular Approaches to Defining Consumer Market Segments Generally, the mass market represents the lower- and middle-income segments, the mass affluent is the upper-end of the mass market and the wealthy are the high-income segments.

What defines mass affluent?

In marketing and financial services, mass affluent and emerging affluent are the high end of the mass market, or individuals with US$100,000 to US$1,000,000 of liquid financial assets plus an annual household income over US$75,000. Mass affluent consumers are an important target market for sellers of luxury goods.

What is considered affluent in the United States?

These emerging wealthy households can use guidance and advice to save more and plan for retirement. Around 8 million or 6 percent of U.S. households are high-net-worth with investable assets of $1 million or more. Another 6.4 million households, considered affluent, have investable assets between $500k and $999.9k.

What is the top 2\% salary in us?

Across the US, the average income for the top 2\% of all earners is $206,000.

What is the mass market and the mass affluent?

Generally, the mass market represents the lower- and middle-income segments, the mass affluent is the upper-end of the mass market and the wealthy are the high-income segments. In addition to income, these segments encompass two additional elements – investable assets and net worth – that give more context than simply income earned.

What does it mean to be mass affluent in 2021?

Let’s properly define the mass affluent. To be considered mass affluent by income, one must make at least 50\% more than the median household income of your surrounding area. Therefore, to be mass affluent, you must earn at least $102,000 year since the median household income is roughly $68,000 as of 2021.

Should the mass affluent spend more money in retirement?

The mass affluent generally may worry about replacing their paycheck in retirement, and may need to be encouraged to spend more money during their retirement years. They often wish to leave an inheritance to their children.

Should everybody strive to become part of the mass affluent crowd?

Based on the financial metrics in this post, I believe everybody should strive to become part of the mass affluent crowd. There are 33 million mass affluent people in the United States according to the Federal Reserve.

https://www.youtube.com/watch?v=utQmOtEMW8U