Being Worth $1 Million Doesn't Mean You're Wealthy, Survey Finds

MINNEAPOLIS (WCCO) -- The definition of being wealthy may vary a lot depending on what people value. But, when it comes to money, a million dollars apparently doesn't cut it anymore.

According to Charles Schwab's annual Modern Weather Survey, respondents said it takes about $2.3 million in net worth to be considered wealthy.

That's actually a slight drop from the $2.4 million average from the last 2 years.

The $2.4 million figure is more than 20 times the actual median net worth of U.S. households.

To be financially comfortable, however, the net worth figure drops significantly. The average response was $1.1 million.

For more on the survey, click here.