In 2025, you don’t need quite as much money to be “wealthy” as you did last year, according to a survey of 2,200 Americans.
Survey respondents between the ages of 21 and 75 said you need $2.3 million to be considered wealthy, on average, according to Charles Schwab’s seventh annual Modern Wealth Survey.
Last year, respondents said you needed $2.5 million to be wealthy.
However, even if the topline number is coming down overall, many people still feel that they need more money this year than in 2024 before defining themselves as “wealthy.” Among those surveyed, 63% said they believe it takes more money to feel wealthy this year compared to last.
Those who feel that way cited inflation and a deteriorating economy, as well as higher taxes and interest rates, as factors that are pushing the dollar amount higher this year.
Here’s how much money people think you need to be considered “wealthy,” by generation:
- Generation Z (defined as those born between 1997 and 2003): Average net worth of $1.7 million
- Millennials (1981-1996): $2.1 million
- Generation X (1965-1980): $2.1 million
- Baby boomers (1948-1964): $2.8 million
The survey also revealed that youthful optimism reigns supreme when it comes to the belief that someone will achieve wealth someday.
When asked if they are on the right track to achieve wealth, 43% of members of Generation Z and 42% of millennials said yes. By contrast, just 33% of members of Generation X and 20% of baby boomers said the same.
Survey respondents say a lower average net worth — $839,000 — makes a person “financially comfortable” in 2025. While this number is up from $778,000 in 2024, it’s down from $1 million in 2023.
Here’s how much money each generation thinks it takes to be “financially comfortable”:
- Generation Z: Average net worth of $329,000
- Millennials: $847,000
- Generation X: $783,000
- Baby boomers: $943,000
Wondering how much each generation has stashed away for retirement? Read “Here’s the Average 401(k) Balance of Americans at Every Age” to find out.
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