To be considered wealthy (monetarily), how much money should a person have accumulated as a function of age?
Answer:
Wealth isn't measured in income, it's measured in asset value. You could make $40K per year, but if you have $1M in the bank at 4% interest, you're better off than the fellow making $41k per year but with $80k in debt.
Wealth should include the value of retirement accounts, and exclude the value of your primary residence. To be truely wealthy, I think you need $5M at age 66, and you need to accumulate wealth at 11% per year - just a tad higher than the historic market return.
Using that formula, you get a boundry of:
Wealth = 5,000,000/(1.11^(66-age)). This gives you a wealth of just under $1M at age 50, ~$330k at age 40 (which is pretty good since it excludes primary residence), and so on.
This first answer you have is totally arbitrary. Wealth is a subjective concept. But to answer your question more specifically, wealth refers to assets which create value (like a business, or appreciating assets like real estate, etc.). "Well off" usually (but not by definition) refers to your income or cash flow. There's no standard of how much money you should have at a particular age. It's not objective like that.
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