What it takes to be wealthy in America: $2.3 million, Charles Schwab says

Rich couple making a toast with champagne glasses while eating aboard a private jet. (Credit: Getty Images)

• Americans now believe it takes an average of $2.3 million to be considered wealthy. That’s a 21% rise since 2021, reflecting the way inflation and soaring costs have changed perceptions of wealth. While definitions of wealth vary by generation, most agree it’s not just about the money but also about security, well-being, and quality of life.

“If I had a million dollars… I’d be rich,” the Barenaked Ladies sang in their hit 1988 song.