Americans have a specific number in mind about how much it takes to be perceived as wealthy, and it’s a sizable chunk of change: an average of $2.2 million in assets.
That may seem like a pie-in-the-sky number, especially given that the median net worth of the typical family stood at about $122,000 in 2019, according to the most recent data from the Federal Reserve’s Survey of Consumer Finances.
Yet the $2.2 million figure reflects a dip from a recent peak in 2020, when Americans said they’d need $2.6 million to be considered rich, according Charles Schwab. For seven consecutive years, the financial services firm has surveyed people about their views on wealth. This year’s survey polled 1,000 Americans between 21 and 75 years old about their views on money.
Read more at CBSnews.com
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