Millennials think it takes a personal net worth of nearly $2 million to be considered wealthy, according to Charles Schwab’s 2019 Modern Wealth Survey.
But more than three-quarters of millennial respondents said feeling wealthy is more about how they live their lives.
Multiple experts say that wealth isn’t about “being rich” — it’s about having a good life.
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How much money does it take to be wealthy?
According to millennials, it’s an average personal net worth of $1.9 million. So reveals Charles Schwab’s 2019 Modern Wealth Survey, which polled 1,000 Americans about money.
This nearly $2 million target number is roughly 20 times the median net worth of US households — $97,300, according to the Federal Reserve. But it’s also lower than what most Americans (aged 21 to 75) believe it takes to be truly wealthy, according to the survey — $2.3 million.
And yet, most millennials say they don’t define wealth primarily as a number — more than three-quarters of millennial respondents said feeling wealthy isn’t about the dollar amount, but about how they live their …read more
Source:: Businessinsider – Life