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article <\/p>\n article <\/p>\n
FILE-In this photo illustration, a man holds money in his hand. (Photo Illustration by Sheldon Cooper\/SOPA Images\/LightRocket via Getty Images) <\/p>\n
Most people strive to build generational wealth, whether through investments, savings, or other financial endeavors.\u00a0<\/p>\n
Yet, knowing the actual amount of money one needs to be wealthy is a bit tricky to determine, but a\u00a0Charles Schwab annual survey<\/a> takes a closer look at the kind of monetary success needed to be among the nation’s financial elite class.\u00a0<\/p>\n RELATED: <\/strong>Here’s how much money Americans have to make to feel rich, according to survey<\/strong><\/a><\/p>\n The financial services company released a survey exploring Americans\u2019 perspectives on saving, spending, investing, and wealth. The\u00a0Modern Wealth Survey is an online study<\/a> conducted for Charles Schwab by Logica Research that polled approximately 2,200 adults between the ages of 21 to 75 years old from April 24, 2025 to May 23, 2025.<\/p>\n What does it take to be wealthy? <\/p>\n Why you should care:<\/p>\n According to the\u00a0Charles Schwab survey<\/a>, Americans believe you need an average net worth of $2.3 million to be considered wealthy.\u00a0 Sixty-three percent of respondents said it takes more money to be wealthy<\/a> this year compared to 2024, with the three reasons cited being inflation (73%), a worsening economy (62%), and higher taxes (48%). Another 43% of Americans cite higher interest rates and the impact on borrowing as another reason it requires more money to amass wealth.\u00a0<\/p>\n RELATED: <\/strong>How much money does it take to be financially successful? Depends on who you ask<\/strong><\/a><\/p>\n What it takes to be financially comfortable <\/p>\n Dig deeper:<\/p>\n When asked in the Charles Schwab survey<\/a> the amount of money needed to be financially comfortable,\u00a0<\/strong>respondents said they believe it takes $839,000, representing an increase from $778,000 reported in 2024, but down from the $1 million Americans cited in 2023.\u00a0<\/p>\n Americans place equal value on happiness and wealth <\/p>\n Local perspective:<\/p>\n When respondents were asked in the survey what it means to be wealthy, they placed an equal value on happiness as they do wealth.\u00a0<\/p>\n Approximately 83% admit feeling wealthy <\/a>pertaining to the quality of their relationships, their happiness (83%), and the amount of free time they have (81%).\u00a0<\/p>\n Survey shows financial comfort and wealth feel achievable for savers, investors, and planners <\/p>\n The other side:<\/p>\n Most Americans in the survey are optimistic about acquiring financial comfort and wealth, but other respondents admit that meeting these goals might be farfetched.\u00a0<\/p>\n Forty-eight percent said they are either already financially comfortable or are on pace to be, while 25% said they think achieving financial comfort is possible but will require life changes.<\/p>\n When it comes to working to become wealthy, 35% of respondents said they are either on track or are already wealthy, while 26% say they can get there but admit it would require significant changes to their lifestyle.<\/p>\n The Source:<\/b> Information for this story was provided by the Charles Schwab annual survey on wealth. A survey consisted of 2,200 people from April 24, 2025 to May 23, 2025.\u00a0 This story was reported from Washington, D.C.\u00a0<\/p>\n \u00a0<\/p>\n Money<\/a>Personal Finance<\/a>Lifestyle<\/a> <\/p>\n","protected":false},"excerpt":{"rendered":"article FILE-In this photo illustration, a man holds money in his hand. 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