Being wealthy means different things to different people. The threshold of wealth is explored in the recent 2023 Modern Wealth Survey, an annual examination by Charles Schwab of how Americans think about saving, spending, investing and overall wealth. According to Charles Schwab, this year’s survey of 1,000 respondents revealed there is a paradox between how people define wealth for themselves and how they define it for others. The data also demonstrated that the 48% of Americans who feel wealthy today have an average net worth of $560,000, compared to the $2.2 million they say it takes to be considered wealthy.
Do you think you’re rich? Here’s what Americans say
Published On - June 19, 2023
