meta_pixel
Tapesearch Logo
Log in
Be Wealthy & Smart

286: How Much Money Does it Take to Be Considered Wealthy?

Be Wealthy & Smart

Linda P. Jones

News, Business News, Investing, Business

4.8883 Ratings

🗓️ 3 July 2017

⏱️ 9 minutes

🧾️ Download transcript

Summary

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.

 

 

Transcript

Click on a timestamp to play from that location

0:00.0

Be Wealthy and Smart, episode 286.

0:03.0

I'm gonna live no Rich Light.

0:06.0

Rich Light.

0:08.0

I'm pulling that's life.

0:10.0

If y'all know what I mean, put your hands up and declare with me

0:13.8

Yeah, I'm full of pay hey time I'm gonna live the good life

0:20.8

and you're gonna live the good life

0:21.3

and you're a glorious light Step into a world of wealth and financial freedom without budgets, boredom or bosses on be wealthy and

0:30.3

bosses on be wealthy Wealthy and Smart. And now here's your host, Linda P. Jones.

0:38.0

Welcome to Be Wealthy and Smart. I'm Linda P Jones, America's Wealth Mentor.

0:41.7

Empowering women and Men Worldwide and Financial Freedom.

0:45.2

On today's show, you're going to learn how much money does it take to be considered wealthy.

0:50.1

This came from an article on C.N. B.C. Catherine Elkins does a great job writing articles there.

0:55.6

And this was about a Schwab survey on wealth.

1:00.8

And it says that Americans say it takes an average of 2.4 million dollars to be considered

1:08.0

wealthy. As for how much it takes to be considered financially comfortable, the survey says it takes an average of

1:15.5

1.1 million dollars. So 2.4 million is wealthy, 1.1 million is financially comfortable.

1:24.0

By that standard, the article goes on to say,

1:27.0

less than 10% of American households qualify as, quote,

1:31.0

comfortable since less than 10% have over a million dollars.

1:36.1

The article goes on to say, Americans are split on their definitions of wealth,

1:40.9

with some describing wealth as a specific sum of money and others describing it more as a state of mind.

...

Please login to see the full transcript.

Disclaimer: The podcast and artwork embedded on this page are from Linda P. Jones, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Linda P. Jones and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.

Copyright © Tapesearch 2026.