Americans have Nailed Down Wealth to an Exact Number

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Americans have Nailed Down Wealth to an Exact Number

Duration: 00:40 1 hr ago

The amount Americans think you need to be wealthy in 2021 is less than they said it was in 2020. How much money do you need to be considered wealthy? Americans have nailed it down to an exact number: $1.9 million. Respondents in the Charles Schwab 2021 Modern Wealth Survey came to that figure as the minimum net worth a person needs to reach the status of the well-to-do. On the one hand, that might sound like a lot of green — and it is. Schwab points out that $1.9 million is far beyond the actual average net worth of U.S. households— $748,800 as of 2019, the latest year for which federal data is available. It’s even farther beyond the median (midpoint) net worth of households — $121,700.

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