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What does it take to be considered wealthy in the U.S.? A cool million isn’t enough these days.


hegemony
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What does it take to be considered wealthy in the U.S.? A cool million isn’t enough these days.

 

 

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In three of the surveys, Schwab has asked respondents to finish the sentence, “To me, wealth means… .” In 2017 and 2022, “money” was the most popular answer. But this year, the No. 1 answer for what wealth means was “well-being.”

 

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Not sure exactly what "wealthy" means to different people.

 

I suppose one reasonable definition is having enough money that if you and your spouse couldn't work the rest of your lives, you'd have enough money to do the things you normally do without significant worry. Money beyond that doesn't really mean much. To me at least. I suppose some want bragging rights or some sort of social status. Not my cup of tea.

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20 minutes ago, shifter said:

Most people confuse wealth and high income anyway. Lots of high earners are living what might be seen as "wealthy" lives, but leaning on their month to month income and just about dead broke when it comes down to it.

 

What I see is more like confusing having stuff with wealth. The fancy car and the big house are nice if you can easily pay for them, but if you are in debt or living paycheck to paycheck, that ain't wealth.

 

My own goal is to simply not need to worry about money. I don't need high end stuff, but I would like to be able to do all of the things I enjoy without having to whip out a spreadsheet and fret over how I will pay for it all. I just pulled the plug on buying a swank condo in a fashionable neighborhood for exactly this reason and I don't regret it. I'd prefer to go find myself a nice unabomber hut somewhere and sleep well at night.

Edited by Achillia
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6 hours ago, hdporter said:

 

I hear you.  But I consider the WSJ Digital Bundle (digital access to WSJ, Barrons, & Marketwatch) a bargain at $10/mo.

 

As one would expect, this is an intro offer, good for 1 year.  You cancel when the notice is issued that your subscription will be billed at $49.99/mo.  then Rinse & Repeat.

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