Many Americans struggle with debt, with 90% carrying some form of it, primarily mortgages. Techniques like the avalanche and snowball methods can help pay down debts efficiently. If you’ve avoided consumer debt entirely and paid off your mortgage, you’re in a rare financial position with more flexibility to save and invest.

Having retirement savings already puts you ahead of 40% of Americans who have none. Balances tend to be modest, with an average 401(k) balance for 40-44-year-olds at $109,100. Having over $100,000 saved under 40 or nearing retirement with much more means your finances are well above average.

With savings rates low at 4.6%, saving over $10,000 annually or a double-digit percentage of your income sets you apart and accelerates your financial goals. Getting the best interest rate, like the Wealthfront Cash Account offering a 4.25% APY, can help your money work for you in the background.

Only one-third of U.S. adults have hired a financial advisor, but working with one can improve how you manage money. Services like Vanguard can provide tailored plans to help meet financial goals efficiently. Confidence in your financial position is a powerful indicator of elite financial management.

Read more at Yahoo Finance: Are you richer than you think? Here are 5 clear signs you’re punching way above the average American’s wealth