How much do you need to feel “wealthy”?
Some people would say they need a million bucks. Others want more. But many people define “wealth” in ways that have nothing to do with money.
Recently, financial services company Charles Schwab interviewed 2,200 Americans aged 21 to 75 as part of its 2025 Modern Wealth Survey and asked them what it takes to be considered wealthy. The survey respondents generally said it takes an average of $2.3 million to fall into that category.
That number was actually down a bit from last year, when respondents cited a figure of $2.5 million.
However, the respondents also said feels like it’s becoming more difficult to achieve wealth. Nearly two-thirds — 63% — say it takes more money to be wealthy this year compared with last year.
They say the following obstacles make it difficult to achieve wealth:
- Inflation/cost of living: 73%
- A worsened economy: 62%
- Higher taxes: 48%
- Higher interest rates: 43%
However, many of those surveyed cited things other than money when defining what “wealthy” means to them. Here is how the survey respondents personally define wealth:
- Happiness: 45%
- Amount of money I have: 44%
- Physical health: 37%
- Mental health: 32%
- Quality of my relationships: 24%
- Life experiences: 24%
- Accomplishments: 20%
- Amount of free time: 18%
- Material possessions: 17%
If you are among those who define wealth in terms of dollars and cents, check out how to get into the money mindset in “5 Surprising Beliefs Rich People Share.”
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