How much money is considered rich in America?
To be considered rich in the US, you need $2.2 million. Photo: Getty Images
According to the results of a survey called Modern Wealth Survey by Charles Schwab, most Americans say that to be considered “rich” in this country, you need to own a wealth of assets. about 2.2 million USD.
Besides, people also believe that owning a net worth of $ 774,000 will make you “financially comfortable”.
This survey was conducted by Schwab in February of this year with the participation of 1,000 Americans, between the ages of 21 and 75. Participants will answer a series of questions about personal finances, including factors affecting saving and investment decisions.
The number of assets to be considered “rich” and “financially comfortable” both increased compared to last year’s survey. In 2021, Americans said they need $624,000 to live comfortably, while it needs 1.9 million to become rich. However, this year’s number is still lower than before the Covid-19 pandemic.
According to Rob Williams, a representative of Charles Schwab, instead of trying to achieve a specific number, people are now more focused on the overall goal.
“Besides portfolios and account balances, people care about other things including their physical health and overall stability,” Williams said.
The median net worth of American households isn’t too far off the Schwab survey’s results. The 2019 survey of the US Federal Reserve (FED) shows that the average total wealth of US households is about 748,800 USD. However, this figure includes the assets of wealthy families. According to some other reports, many households in the US have little or no savings at all.
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