An accredited investor is someone who:

• Has an annual net income that was at least $200,000 in each of the last two years, or whose joint income with a spouse was in excess of $300,000 in each of those years, and who has a reasonable expectation of the same income level in this year.
• Has more than $1 million in net worth — either alone or with a spouse. This excludes the value of a primary residence.

A non-accredited investor is someone who:

• Earned less than an accredited investor but is someone who is familiar with investing as a whole whether through a 401K, an IRA or individual investments.