According to a recent survey by Charles Schwab, Americans believe you’ll need a net worth of $2.3 million to be considered wealthy in 2025. Folks have lofty aspirations looking ahead! The survey was conducted from April 24 to May 23, with a representative sample of 2,000 nationwide adults. It’s a testament to the increasing fiscal demands of taxpayers across the country.
Based on the results, Americans believe that the level of financial security needed for well-being is an average net worth of $839,000. This amount has increased from $778,000 last year. It reflects a deepening understanding of what it really means to feel safe. Charles Schwab’s survey defines wealth as total assets minus debts and liabilities, underscoring the importance of net worth in determining financial status.
Regional differences play an enormous role in what constitutes wealth. In the Western states in particular—California, Washington, and Colorado—people must have a net worth of at least $3 million to be considered wealthy. This arbitrary threshold turns basic comfort into high affluence. The Northeast’s need is $2.4 million. The cost-effectiveness threshold in the Midwest is decidedly lower at just $2.1 million. The South has the lowest bar to clear at just $1.8 million for someone to qualify as rich.
Comfortable net worth figures differ by region. The West needs at least $1.1 million just to be financially comfortable, while the Northeast needs $979,000. For reference, the Midwest’s threshold is $800,000 and it is $615,000 in the South. These variances are a testament to the unique costs of living and economic conditions found throughout the United States.
For all the expectations of financial returns, almost half of survey respondents said they feel financially at ease. Twelve of these are already considered transit deserts. In addition, an overwhelming majority—nearly 80%—reported that they feel wealthy in terms of relationships, happiness, and leisure time. This indicates that a lot of Americans probably have a broader definition of wealth than just dollars and cents.
In the respondents’ answers, happiness emerged as the strongest indicator of affluence for 45% of participants. Only 44% cited their financial assets as the key driver. This two-fold view paints a more holistic picture of what it means to prosper—emphasizing mental health in addition to the pursuit of monetary success.