To be considered wealthy in the U.S., Americans say you need a net worth of $2.3 million in 2025 — however that quantity can be even greater relying on the place you dwell.
It’s down from $2.5 million final 12 months, in accordance to Charles Schwab’s latest Modern Wealth Survey, which polled 2,000 adults nationwide between April 24 and May 23.
While the wealth benchmark has decreased, almost two-thirds of respondents say it feels harder to reach. Inflation, excessive rates of interest and broader financial uncertainty have been the mostly cited causes.
Here’s how much Americans say you need to be considered wealthy, by area:
- West: $3 million
- Northeast: $2.4 million
- Midwest: $2.1 million
- South: $1.8 million
You need the highest web price to be considered wealthy in Western states, together with California, Washington and Colorado.
That could be unsurprising given the region’s high cost of living — particularly in California, the place main cities like San Francisco and Los Angeles are amongst the costliest locations in the nation, especially for housing costs.
Schwab’s survey defines wealth when it comes to web price, which is a measure of your whole property minus your money owed and liabilities. However, many Americans have a broader view of what it takes to be wealthy.
When requested what being wealthy means to them, 45% stated happiness, almost equal to the 44% who cited the quantity of money they’ve. Others cite bodily and psychological well being, robust relationships and free time.
That helps clarify why many Americans say they already really feel wealthy in non-financial methods. About 4 in 5 say they really feel wealthy when it comes to their relationships, happiness and free time, in accordance to Schwab.
What it takes to really feel financially snug
The threshold for feeling financially snug is decrease — $839,000 on common in the U.S., up from $778,000 final 12 months, in accordance to the survey. As with wealth, a cushty web price varies by area:
- West: $1.1 million
- Northeast: $979,000
- Midwest: $800,000
- South: $615,000
Schwab’s information means that monetary consolation feels extra inside attain than wealth. Nearly half of respondents say they’re already financially snug or on the path to get there.
Another 25% say it is attainable, however solely with way of life modifications, which might embrace lowering spending or growing earnings.
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