Post #6512 by Baltassar on the Berkshire Hathaway board

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i would hope government statistics

The gov knows my income, they know what I have in 401ks & IRAs (for eventual taxation purposes). They know what I have in foreign accounts (via FBAR).

Do they know what I have in taxable brokerages and bank accounts?

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One of the great things about being an economist (I am not, but somewhat adjacent) is that there are tons of data out there. Public records generated by reporting requirements, for financial institutions as well as individuals, are extensive, for Americans anyway. The study of wealth is a lively academic enterprise just now.

For what it's worth, conventional research categories often define a "high net worth individual" as someone with >$1M in liquid assets. "Very high net worth" requires >$5M. "Ultra-high net worth" requires >$30M. If I recall correctly, that is.

Baltassar

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