Here’s the Minimum Salary Required To Be Considered a Wealthy Boomer in 2026
Written by
Cindy Lamothe
Edited by
Levi Leidy
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Ask 10 people what it means to be “wealthy” and you’ll probably get 10 different answers. Add boomers, rising living costs and the looming reality of 2026, and the definition gets even murkier.
A salary that once felt comfortably rich doesn’t always stretch the same way it used to. So where’s the line now?
According to Federal Reserve data analyzed by Harness, crossing into the top 10% of boomers — a common benchmark for being considered “wealthy” — means having just under $3 million in net worth.
Here’s what it takes to be considered a wealthy boomer, and how today’s economic reality reshapes that benchmark.
Wealth Matters More Than Paychecks
Dennis Shirshikov, professor of finance at City University of New York and head of growth and engineering at GrowthLimit, explained that the first key to understanding what is “wealthy” depends less on salary.
“More so a net worth and investible assets, because many boomers are at least semi-retired or fully retired with low wages but high assets and passive income,” he said.
If you absolutely have to peg the conversation to a salary, he noted the simplest, most defensible thing is to consider “wealthy” as being in the top income percentile or quintile for boomer age bands with publicly made Census-style income distribution data.
“Then adjust up/down by household size and geography because ‘wealthy’ in a low-cost region may not even be comfortably middle class in an expensive metro,” he added.
Why Surplus Income Is the Real Benchmark
One useful way to think about minimum salary, said Shirshikov, is that it’s the amount of earned income which will reliably cover a lifestyle and leave you with some (tax-free, after healthcare and housing) growth in assets.
So, in 2026 that is what it means to be a “wealthy boomer” when it comes to minimum salary: achieving it is not so much about a national average number as clearing certain thresholds.
“[This looks like] comfortably paying for discretionary expenses along with managing down the debt profile by constructing or preserving investable assets rather than running them down too early,” Shirshikov said.
In other words, minimum is what is left over after obligations, not before them. Surplus — and surplus alone — makes you wealthy, not your gross pay.
Keeping Options Open While Cutting Tax Surprises
The next chapter, according to Shirshikov, is about protecting optionality and reducing avoidable taxes and surprises.
“First, boomers should treat cash-flow planning as a core asset, mapping predictable income sources against essential spending so that portfolio withdrawals are purposeful, not reactive,” he said.
Then, they should revisit tax strategy, since he noted retirement income is often a mix of taxable, tax-deferred and tax-free sources, and the order of withdrawals can materially affect lifetime taxes.
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