Millionaire Next Door Calculator

In his book, The Millionaire Next Door (published 1996), best-selling author, Dr. Thomas J. Stanley, wrote about a formula you can use to calculate your expected net worth:

“Multiply your age times your realized pretax annual household income from all sources except inheritances. Divide by ten. This, less any inherited wealth, is what your net worth should be.”

Given your age and income, how does your net worth match up? If you are in the top quartile for wealth accumulation, you are a PAW or prodigious wealth accumulator. If you are in the bottom quartile, you are a UAW, or under accumulator of wealth.