Americans Say They Need $2.2 Million to Consider Themselves Rich

When you were growing up, you may have dreamed of one day being a MILLIONAIRE.  But these days, having a million bucks is NOT enough to make you rich.  Neither is TWO million.

According to a new “Modern Wealth” survey from Charles Schwab, Americans consider themselves wealthy if they have an average of $2.2 million in ASSETS, which includes cash, property, cars, and bling.

That number is actually DOWN from before the pandemic.  In early 2020, Americans said that $2.6 million was the magic number to be rich.  But there’s a difference between BEING wealthy and FEELING wealthy.

They surveyed 1,000 random people between the ages of 21 to 75, who had an average net worth of $560,000 in assets.  And 48% of them said they already “feel wealthy,” even if they’re well below $2.2 million.

That’s because many people . . . especially younger adults . . . say money alone doesn’t equal wealth, and that there’s also “currency” in experiences and relationships.  (Which IS true . . . although that awesome getaway to Mexico isn’t paying off your student loans.)

(NY Post)