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.
