286: How Much Money Does it Take to Be Considered Wealthy? - a podcast by Linda P. Jones

Learn how much money Americans think it takes to be considered wealthy.

From CNBC.com, Kathleen Elkins:

According to a Schwab survey on wealth, Americans say it takes an average of $2.4 million to be considered "wealthy." As for how much it takes to be "financially comfortable," survey respondents say it's an average of $1.1 million.

By that standard, less than 10 percent of American households qualify as "comfortable," since less than 10 percent have over a million dollars.

Americans are split on their definitions of wealth, with some describing wealth as a specific sum of money and others describing it more as a state of mind.

When asked to define wealth, the top five sentiments among 1,000 Americans are:

1. Having a lot of money (27 percent)
2. Enjoying life’s experiences (24 percent)
3. Being able to afford anything they want (22 percent)
4. Living stress-free and having peace of mind (19 percent)
5. Having loving relationships with family and friends (12 percent)

However, when asked to compare two opposing ideas of wealth at a more personal level, Americans lean into things that money can’t buy:

•Sixty-five percent equate wealth with having good physical health vs. having lots of money (35 percent)

•Fifty-eight percent say wealth is about having gratitude vs. having money (42 percent)

This one surprised me because I think it’s a big departure from past generations of parents and grandparents:

•Fifty-six percent believe wealth is about building community vs. working on one’s career (44 percent)

Article is on my website at
http://lindapjones.com, podcast 288.

Please subscribe and leave me a review on iTunes or Stitcher Radio.

Connect with me on social media at Twitter and IG @Lindapjones and Facebook @lindapjonesfanpage.

Move your net worth in the right direction by getting “11 Quick Financial Tips to Boost Your Wealth” at www.lindapjones.com.

 

 

Further episodes of Be Wealthy

Further podcasts by Linda P. Jones

Website of Linda P. Jones