Last year, the threshold was $2.5 million. And for the feeling of “financial comfort” Americans will be enough and $ 839 thousand.
The study, which involved more than 2,000 American adults (21 to 75 years old), showed that perceptions of wealth vary significantly by generation:
What it takes to be rich:
- Generation Z: $1.7 million
- Millennials: $2.1 million
- Generation X: $2.1 million
- Boomers: $2.8 million
How much do you need for financial comfort:
- Generation Z: $329k.
- Millennials: $847k.
- Generation X: $783k.
- Boomers: $943k.
Interestingly, for Americans, money is not the only sign of wealth. When asked what it really means to be rich, respondents answered as follows:
45% – “happiness”
44% – “the amount of money I have.”
37% – “physical health”
32% – “mental health”
24% – “quality of my relationships”
24% – “life experience”
20% – “achievements”
18% – “amount of free time”
17% – “material goods”
Generation Z were the most optimistic: 43% of them believe that they already fulfil their idea of wealth. Among baby boomers, only 20 per cent of them do.