Americans’ perceptions of wealth have shifted over the past several years, according to a new Charles Schwab survey.
What does it take to be considered wealthy in the U.S.? A cool million isn’t enough these days. You’ll need twice that and then some.
Americans say it takes $2.2 million to qualify as wealthy these days, according to Charles Schwab’s SCHW latest Modern Wealth survey. Americans’ perceptions of wealth have shifted over the past several years. When asked to define what it means to be wealthy, people appear to be putting less emphasis on the contents of their wallets and more on the contents of their hearts, according to previous versions of the same Schwab survey.
“Americans today aren’t as worried about keeping up with the Joneses, and more importantly, they understand that they can be happier with fulfilling experiences and relationships, even if they have less money than them,” said Jonathan Craig, managing director and head of investor services at Charles Schwab.
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