Americans Now Need $2.5 Million to Be Considered Wealthy: Charles Schwab Survey

Published on August 23, 2024

The amount of money required to be seen as rich has risen over the past years amid inflation, with younger people having a lower wealth benchmark, according to a recent survey by financial services company Charles Schwab. “Americans now think it takes an average of $2.5 million to be considered wealthy—which is up slightly from 2023 and 2022 ($2.2 million),” reads an Aug. 21 statement by the company. “By generation, Boomers have the highest threshold of what it takes to be considered wealthy, at $2.8 million, while the younger generations, Millennials and Gen Z, have lower thresholds of what is considered wealthy” at only $1.2 million, it adds....

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