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How much money does it take to be wealthy?

How much money does it take to be wealthy?
wealth


When we imagine the wealthy, we may conjure up images of people so rich they live in homes that resemble small palaces and own clothing items that cost more than the typical homeowner’s mortgage payment. But there’s a difference between wealthy and ultra-wealthy. While it may be quite challenging to work one’s way into the latter category, entering the former may be easier than expected.

You may be surprised at what the public thinks being wealthy entails. In fact, according to a recent survey, Americans think it takes an average net worth of $1.9 million to be considered wealthy. That’s a decline from 2020 when the public thought $2.6 million was what it took to be wealthy.

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Gordon Fox
Gordon Fox is the editor of investinglate.com and writes about Investments, Savings, and how to make the most of your money