Schwab's Modern Wealth Survey 2023

[Axtremus]

https://www.businesswire.com/news/home/20230613313611/en/Schwab’s-Modern-Wealth-Survey-Reveals-Nearly-Half-of-Americans-Feel-Wealthy…But-With-a-Twist-They-Don’t-Measure-It-in-Dollars-Cents

In monetary term, for 2023:

• On average respondents says it takes $2.2 Million to be considered wealthy.
• But among respondents who consider themselves wealthy, their own networkers averages $560k.
• ... and more people cite non monetary factors to consider when evaluating "wealth"

[Horace]

The only wealth I care about is spiritual wealth, and the wealth of human relationships. I mean other than money, which is the most important wealth.

[Axtremus]

More “wealth” surveys:

https://www.usatoday.com/story/money/2023/10/23/what-does-it-take-to-be-wealthy-in-america/71237797007/

• Median household wealth hit $192,900 last year
• $2.6 million: the net worth of the median American family in the upper 10% of income
• $483,000: how much Americans believe they would need to earn in a year to be rich
• $2.2 million: net worth an American needs to be considered wealthy in 2023
• $560,000: average net worth of Americans who actually feel wealthy in 2023
• Nearly half of Americans feel wealthy (!)

[Horace]

@Axtremus said in Schwab's Modern Wealth Survey 2023:

More “wealth” surveys:

https://www.usatoday.com/story/money/2023/10/23/what-does-it-take-to-be-wealthy-in-america/71237797007/

• Median household wealth hit $192,900 last year

Two years ago, this statistic was making the rounds:
Only 40% of americans can afford a random $1000 expense

Maybe the great majority of the wealth in that median figure, is home equity. That might explain both numbers.

[Mik]

We qualify and I feel relatively secure, but I'm also well aware of how quickly wealth can evaporate with long term care.