of 1,000 Americans conducted by Logica Research for financial services company Charles Schwab, respondents said on average that people in their area needed $2.2 million in personal net worth to"be considered wealthy."
Just under half of the respondents – 48% – said that they personally felt either somewhat or very wealthy. But of these people who reported feeling wealthy, they had an average of $560,000 in total assets, including retirement funds held by employers but excluding real estate. There were significant differences between generations. The most likely generation to say they felt wealthy was millennials, at 57%, compared to 40% of boomers. But boomers who said they felt wealthy had the highest average net worth at $692,000, compared to $410,000 among Gen X respondents, suggesting considerable differences in perceived wealth between age groups.
As of 2019, the average net worth of American families was $746,820, according to the Federal Reserve's 2019 Survey of Consumer Finances, while the median was $121,700. Net worth was the highest for people who at the time were aged between 65 and 74 years.
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