No One is as Rich as You Think

No One is as Rich as You Think

Today's Newsletter:

• My Latest

• Everyone Puts Their Pants on the Same Way

• No One is as Rich as You Think

• A Money Question

My Latest

This week is a throwback, but one of my favorite videos I have done.

In it, I will teach you:

• Key items in your tax return

• What to look for in reviewing it

• The big mistakes I see most people make

You can check it out here ⬇️⬇️⬇️

Everyone Puts Their Pants on the Same Way

I walked into a locker room full of guys I had only seen on TV.

Heck, half the team I had their baseball cards in my bedroom.

To say my first foray into professional baseball was a bit overwhelming would be the understatement of my life.

Yet it was this line that made me shift my thinking…

My agent told me, “Jacob, everyone in that locker room puts their pants on the same way.”

You see, it had nothing to do with their pants and everything to do with they were just like me.

Normal people just with exceptional God given ability on a baseball field.

You see, in life (and our wealth-building journey), we tend to put people on a pedestal.

• We think everyone else has it all figured out.

• We think they have the thing we are missing.

• We think they don’t have the same thoughts.

Well, I am here to tell you they do.

In today’s newsletter, I want to share with you a limiting mindset that can hold you back from enjoying, appreciating, and celebrating your money wins.

Let’s dive in…

No One is a Rich as You Think

We are going to break this down into four sections:

• What the average American earns

• What the average American owns

• Why this matters for us

• What we can learn from this

1. What the “average American” actually earns, spends & saves

First, let’s set the baseline so we know what “normal” looks like.

Income

• According to the U.S. Census Bureau, the median household income in 2023 was $80,610.

• For individuals: The mean personal income in 2023 was about $63,510.

• So if you’re earning, say, $100K or above, you should know you are way ahead of the pack.

Like 25% ahead of the pack…

Spending

• The average U.S. household expenditure in 2023 was about $77,280.

• Breaking that down: about 32.9 % of spending went to housing; roughly 17 % to transportation; 12.9 % to food.

• So even if income is solid, the spending is also surprisingly high relative to that income.

So the next time you see the family with two $75,000 cars in the driveway, remember the reality is they are probably spending nearly everything making…

Saving

• The personal saving rate (that is, savings as a % of disposable income) was about 4.6 % in 2024.

• Historically, this is low. Though it went up during the pandemic, it’s still under 10 % of income for most.

• In other words: Many households earn reasonably well, spend significantly, and save very little.

For those reading this saving into their 401(k), HSA, Roth IRA, and brokerage accounts ~ keep going. You are so much further ahead of the game than you realize.

2. What the “average American” actually owns (net worth)

Let’s shift from income/spend/save to wealth: what people actually own.

• The median household net worth in 2022 was $176,500.

• The 90th percentile of household wealth was about $1,603,000.

• According to the Federal Reserve Board data, the top 10 % of households had a net worth of $1,559,240 or more in 2022.

• High Net Worth: The top 1% of households (in 2025 estimates) hold at least ~$11,640,000 in net worth.

I talk to people every week with net worth far exceeding the 90th percentile who still feel like they are behind.

Sometimes we just need to check back into reality to realize how well we might be doing.

3. Why this matters for athletes & entrepreneurs (and anyone else)

Here’s the truth: Just because you’re possibly earning more than average, doesn’t mean you’re wealthy in the sense that you have financial freedom.

Two key things to consider:

*Income ≠ Wealth

You might be earning a seven‑figure salary or generating strong cash flow, but the data clearly shows most still aren’t building wealth.

Most Americans spend simply based on what they earn, not what they need.

*The illusion of “keeping up”

Every time I see two fancy cars in front of a middle-class house, I think the same thing.

They will never get ahead.

It is a telltale sign of spending pacing right in line with income.

I see balance sheets all day.

• The people you think are rich usually aren’t.

• The people you think “might be” rich usually are far richer than you realize.

4. What You Can Learn From This

Given the data, here are some reference points and goals worth keeping in mind.

Income level for “above average”

If median household income is ~$80,610, earning $150K+ puts you well above the middle. But that doesn’t guarantee wealth ~ spending and investing decisions matter.

Net worth thresholds

• If you have a net worth of ~$200K, you are above the median (~$176K), but you’re not in the top 10%.

• To be in the top 10% of wealth, you’d need ~$1.5 M+ in net worth.

• To be in the top 1%, you’re looking at ~$10 M+ in many cases.

Stay Rooted In Reality

You are reading a newsletter to get smarter with your money.

My hunch is you are making smarter money moves than most of your peers.

My urging to you is not to lose track of reality.

• Celebrate your wins

• Be proud of your savings rate

• Focus on the game you are playing (not someone else’s)

As someone who gets a peek behind the curtain, let me be the first to tell you what you see on the surface is often far different than the reality.

______________________

If you’re a professional athlete, entrepreneur, or high‑earner reading this: Use your income advantage not just for lifestyle ~Use it for leverage.

The data show building income is just step one.

The next steps (control, investing, purpose) are what separate long‑term financial freedom from short‑term comfort.

Heck have the battle is ignoring what everyone else is doing.

Until next time my friends!

____________________

A Money Question

What luxury item would you still own if no one ever saw it?

Most people buy big houses, fancy cars, or expensive jewelry not for themselves but rather to show off to others.

I’ve done it.

So ask yourself, what items do you buy that if no one knew you had them, you would still buy them?

Chances are, those should be your priorities.

______________________

3 Ways I Can Help You

💰 Schedule an introductory call with Moment. We help athletes, entrepreneurs, and key employees build and protect wealth.

📹 Check out my YouTube channel. A safe place to get smarter with your money.

📷 Interact with me on Instagram. I provide bite-sized daily content to level up your money game.

Moment Private Wealth, LLC is a Registered Investment Advisor, located in the State of Missouri. Moment Private Wealth provides investment advisory and related services for clients nationally. Moment Private Wealth will maintain all applicable registrations and licenses as required by the various states in which Moment Private Wealth conducts business, as applicable. Moment Private Wealth renders individualized responses to persons in a particular state only after complying with all regulatory requirements, or under an applicable state exemption or exclusion. Nothing in this content is intended to be, and you should not consider anything in this content to be, investment, accounting, tax, or legal advice.