America's new wealth benchmark is here — but only 1 in 4 meet this crucial milestone. Are you far ahead or way behind?

Owning a home, contributing to a retirement account, or maintaining an emergency fund may not be enough to achieve lasting financial security.

A new report from the Aspen Institute's Financial Security Program (1) argues that Americans need a combination of liquid savings and appreciating assets to build what it calls "essential wealth" — the financial foundation needed to weather emergencies, invest for the future and retire comfortably.

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But according to the report, only 26% of U.S. households have reached that benchmark, leaving nearly three in four without enough wealth to fully achieve those goals.

"The headline finding is stark: The vast majority of American households — three out of four — do not have essential wealth," the researchers wrote.

Worse still, this isn't just a look at in-progress wealth building.

"Most households do not reach essential wealth at any age," the report found, noting that even many Americans approaching or in retirement still fall short of the benchmark despite decades of saving.

The report defines essential wealth as having both sufficient liquid savings to absorb financial shocks and enough net worth invested in appreciating assets — retirement accounts, home equity or businesses — to build long-term financial security.

Researchers argue that income alone isn't enough because wages pay today's bills, while wealth creates future opportunities and financial flexibility.

"Families cannot afford to wait for wealth until every other financial need has been met," the report states. "Wealth is not just for the wealthy. It is necessary for everyone."

To reach the benchmark, households must clear both a savings threshold and a net worth threshold, which vary by age.

For example, the report says a typical household in its 20s would need roughly $40,000 in net worth and six weeks' worth of take-home pay in liquid savings to qualify as having essential wealth. For households in their 30s, that illustrative benchmark rises to roughly $120,000 in net worth plus six weeks of income in cash savings.

Importantly, essential wealth is just the final destination in a three-step journey. The report also details earlier, more manageable brackets — underscoring the fact that essential wealth is a developing goal, not an ultimatum.

One way to start building wealth is by investing consistently, even if you're starting with small amounts. Micro-investing apps such as Acorns can help automate the process by rounding up purchases and investing the spare change into diversified portfolios.

For instance, if you buy a donut for $3.25, Acorns will round up the purchase to $4 and invest the change in a smart investment portfolio . So a $3.25 purchase automatically becomes a 75-cent investment in your future. Once you're comfortable with your investments, Acorns can also help you make regular monthly contributions to speed up building out your nest egg.