I would think that anyone that has more than $10 million in wealth would be in the 1%.. but yeah, whether they are merely at entry-level 1%, I am not sure.  And, maybe it is not a good idea to count the value of your primary residence when measuring your wealth, but surely there still would be some value in the primary residence.. especially if it is mostly paid off.. and surely it can be used to generate cash.. whether by selling it or getting loans against it.

We know that for each $1 million in quasi-liquid wealth, you should be able to generate around 4% per year of passive income for that, and maybe part of the reason that no one recommends counting your primary residence as part of your wealth is because generally you are not getting any kind of passive income off of it  - even if it might be appreciating in value.. perhaps?

So someone with $10 million in quasi-liquid wealth should be able to generate $33k of income per month, and surely that should well be within the 1%.. not necessarily in the "lower" 1% as you assert.  Yeah, of course, there are filthy rich folks out there, and I am not even sure where filthy rich begins. I think that at one point (probably prior to March 2020), many of us were speculating that filthy rich might well start at $40 million and above, but these days, we might think that we may well have to double that number and maybe even suggest that filthy rich does not start until $100 million and above, even though surely the $40million to $99 million folks should not really be suffering in any kind of way, but maybe they cannot afford to have both a nice jet and a nice yacht?  I am not sure how much you need to have both.. not that merely having a nice yacht and a nice jet would be the ONLY criteria for filthy rich.. and each of those kinds of items including having a mansion or two take extra maintenance helpers.. so there could be several $million in just annual maintenance expenses for each of the luxury items... but still some of that is filthy rich. and I am still going to say that $10million of quasi-liquid capital that you can invest solidly puts you into the 1%... even though I am kind of guessing a bit and I could look it up, but I am not feeling that ambitious at the moment.. and typing/speculating/shooting things out of my ... thingie.. seems easier than googling the answers.