Even though the Amish are known for their simple and modest lifestyle, some of them actually become pretty wealthy. They mostly make their money through businesses like woodworking, construction, or furniture making. They’re skilled in these crafts and run their businesses efficiently.
There are many Amish millionaire but you won’t see them flaunting their wealth.
They’re not about showing off fancy cars or big houses. Instead, they might invest their money in practical things like land for farming, or they might use it to help their kids get started in life.
Some even put their money into stocks or mutual funds, but again, they keep it low-key.
These wealthy Amish folks also help out in their community, especially when there’s a need, like covering medical bills since they don’t usually use regular health insurance.
So, their wealth isn’t just for them, they use it to support their community too.
Even with some Amish being millionaires, their community still values spiritual and communal wealth more than material stuff.
It’s going to be interesting to see how this new wave of wealth, especially from businesses other than farming, will affect the Amish lifestyle and their views on wealth over time.
Who’s the Richest Amish Person in the World?
No one really knows who the richest Amish person in the world is. The Amish community isn’t big on flaunting wealth or keeping track of who’s got the most money.
Some Amish do get pretty rich, especially those who’ve nailed it in businesses like construction or furniture making. But they don’t go around showing off their wealth.
They keep it all pretty low-key and in line with their belief in modesty and simplicity.
So, when it comes to pinpointing who the wealthiest Amish person is, there’s no clear answer.
If you want to tell if an Amish person is wealthy, check out the properties and farmland they own. It’s one way to see if they have money, besides their donations to charity, which they also value.
Expectations for Wealthy Amish to Contribute to the Community
Imagine you’re an Amish person who has become really wealthy. In the Amish community, people would expect you to share your wealth with others in the community, or at least use your money in ways that benefit everyone.
This is because being rich isn’t considered a good or admirable thing among the Amish.
Instead, rich people in the Amish community are often looked at with sympathy.
Why?
Because they’re exposed to a lot of temptations that come with having a lot of money, and that can be challenging to resist.
Plus, in many Amish communities, there’s not much you can do with extra money. The Amish prefer a simple lifestyle with plain clothes, homes, and horse-drawn buggies.
So, they wouldn’t really buy fancy or special things even if they had lots of money because their culture values plainness and simplicity.
iI some strict Amish communities, they actually tell their members not to get very rich. They do this because they think having too much money can lead to problems, taking them away from what they value most – their family and community.
What Is the Success Rate of an Amish Business?
In the U.S., when people start new businesses, only about half of them are still going strong after 5 years. That means the other half either had to close down or didn’t do so well.
But here’s the interesting part: among the Amish, it’s a whole different story. When they start businesses, a whopping 95% of them are still successful after 5 years.
Even though the Amish don’t use things like public electricity, cars, computers, or attend high school, their success in the business world has been seriously impressive.
The number of Amish businesses that fail is less than five percent.
That’s pretty impressive!
What Is the Average Income of an Amish Family?
The average Amish household typically consists of a husband, a wife who typically does not work outside the home, and 7-8 children.
1986
Back in 1986, the net income for Amish farms typically ranged from $25,000 to $40,000.
A farm finance expert shared with The New York Times that an Amish farm with 80 acres of land, 40 cows, five acres dedicated to growing tobacco, vegetables, and fruit could earn an impressive gross income of $125,000 or even more in a year.
2018
In 2018, the average household income of an Amish family was $64,500. For non-farmers, the average household income was higher, at $87,200.
Farming households had a slightly lower average income of $48,300.
2023
In 2023, the average household income of an Amish family was approximately $71,000. For non-farmers, the average household income was around $94,000.
Farming households had an average income of approximately $52,000.
The Amish live a pretty different lifestyle compared to many of us. They don’t use things like electricity (so, no electric bills), they don’t own cars (so no car payments or car insurance), they’re not into fancy gadgets, and they don’t have internet or cable bills.
Because they skip all these modern expenses, they can live comfortably with a lot less money than most people.
Even with an income of $50,000, they manage just fine because they keep things simple and focus on what they truly need.