Here’s How Much Money People Think They Need To Be Rich

Watch enough TV and it’s easy to think that everyone is rich (or, at the very least, trying to be rich). As of 2018, there was a record 2,208 billionaires in the world. There’s many more millionaires of course, an estimated 11 million in the US alone. Which all begs the question, how much money do people think they need to have to be considered rich today? To get to the bottom of that very question, Charles Schwab polled 1,000 people to ask just that. And the verdict? The average respondent says it takes a net worth of about $2.4 million to be wealthy and $1.4 million to be comfortable. To put that number in perspective, per Census Bureau data the average American under 35 is worth less than $7,000. The median household income meanwhile is $57,617 per year. Needless to say most people are pretty far off from that $2.4 million number, and even that $1.4 million number they are aspiring to. Want to get to $2.4 million? Take heed that there is no easy path, the more you can save the better, and the earlier you can start the better. Image: Rich Kids Of Instagram/Instagram