Americans Say They Need $2.2 Million to Be Considered Wealthy

To be wealthy in America, you need at least $2.2 million.

That’s according to Charles Schwab’s 2023 Modern Wealth Survey released Tuesday, which asked a nationally representative sample of Americans to estimate the average net worth required to reach the ranks of the rich.

Despite that lofty sum, 48% of respondents said they already feel wealthy today, with an average net worth of just $560,000. And counter to the narrative that young people are struggling with money, feeling wealthy was most common among millennials and Gen Z, with 57% and 46% respectively reporting that they feel rich compared to just 41% of Gen ...