In the U.S., to be considered rich, you need to have at least $2.3 million. This figure was mentioned by participants of the annual 'Modern Wealth' survey by Charles Schwab. For 'financial comfort', Americans need just $839,000.
In Charles Schwab's 'Modern Wealth' survey for 2025, the exact amount that makes a person wealthy, according to Americans, was determined to be $2.3 million. This is less than last year when the wealth threshold was $2.5 million.
- Generation Z - $1.7 million;
- Millennials - $2.1 million;
- Generation X - $2.1 million;
- Baby Boomers - $2.8 million.
- Generation Z - $329,000;
- Millennials - $847,000;
- Generation X - $783,000;
- Baby Boomers - $943,000.
The study shows that for Americans, money is not the only indicator of wealth. When asked what it means to be rich, respondents replied:
- 45% - 'happiness';
- 44% - 'the amount of money I have';
- 37% - 'physical health';
- 32% - 'mental health';
- 24% - 'the quality of my relationships';
- 24% - 'life experiences';
- 20% - 'achievements';
- 18% - 'amount of free time';
- 17% - 'material possessions'.
When respondents were asked if they felt they met their own definitions of wealth, the most optimistic were Generation Z members - 43% answered 'yes'. Among Baby Boomers, only 20% felt that way.
Interestingly, Zoomers no longer say 'hello' when starting a phone conversation. This has become the new norm of digital behavior. Members of Generation Z or Zoomers (people born roughly from the late 1990s to the early 2010s) are widely abandoning the traditional greeting at the beginning of a phone call.
The survey conducted by Charles Schwab showed that Americans do not consider money to be the only component of wealth. Sources of wealth for them also include happiness, health, relationships, and personal achievements. The results of the study and the views of different generations on the concept of wealth turned out to be interesting for analysis.