Americans in a new survey say it takes more to be financially comfortable than it did a year ago, but less to feel wealthy, Charles Schwab reported Wednesday.
Respondents said they would need a net worth, on average, of $839,000 to feel financially comfortable, up from $778,000 in 2024. They said it would take an average of $2.3 million to feel wealthy, $200,000 less than a year ago.
Schwab noted that the dollar amount to be considered wealthy has remained relatively consistent the past several years, but 63% of participants in the new survey still sense that the bar to achieve monetary wealth is increasing. Seventy-three percent cited the effects of inflation, 62% a worsened economy and 48% higher taxes as the main reasons.
Forty-three percent said that higher interest rates and their effect on borrowing costs are a big reason it takes more money to achieve wealth.
“The concept of wealth can feel distant, abstract or even aspirational, while financial comfort is something people might see as more tangible and associated with the everyday realities they’re facing right now,” Rob Williams, Charles Schwab’s managing director of financial planning, said in a statement.
“It can be hard to navigate these concepts side by side in the form of short- and long-term financial goals. But both are important when it comes to understanding and managing your full financial life.”
Logica Research conducted the online survey from April 24 to May 23 among a national sample of 2,000 Americans ages 21 to 75. An additional 200 Generation Z Americans completed the study.
The survey found that Americans define “wealth” as more than just money. They place the same value on happiness as they do on financial success. They consider physical and mental health and strong personal relationships key components of wealth.
When it comes to happiness and wellbeing, the survey found that many Americans feel rich. Eighty-three percent of respondents said the quality of their relationships makes them feel wealthy, another 83% cited their happiness and 81% the amount of free time they have.
Youthful Optimism
As in previous years, the 2025 survey showed that Gen Zers set the lowest threshold for what it takes to be financially comfortable.
- Gen Zers: $329,000, down from $406,000 in 2024
- Millennials: $847,000, up from $725,000
- Gen Xers: $783,000, down from $873,000
- Baby boomers: $943,000, up from $780,000
Younger people are also more optimistic that they are on the right track, according to the survey. Forty-three percent of Gen Zers and 42% of millennials said they expect to achieve wealth, or have done so, compared with 33% of Gen Xers and 20% of boomers.
The survey also found that the younger cohort was the most likely among the generations to have formally documented their financial goals.
“It’s encouraging to see that young people recognize the value of planning,” Williams said. “Having a written financial plan not only helps people define what wealth means to them but also gives them a roadmap to get there. Especially in uncertain times, planning can help turn aspiration into action.”
Attaining Financial Comfort and Wealth
The survey results showed that most Americans believe that financial comfort and wealth are achievable, but for many, hitting those goals can feel like a stretch.
Forty-eight percent of respondents reported that they are either already financially comfortable or are on track to be, while 25% said achieving financial comfort is possible but will require life changes.
As for achieving wealth, 35% said they are either on track or already wealthy. Twenty-six percent think they can get there but said they would have to make significant lifestyle changes.
The survey found that across the board, people who identify as savers, investors and planners are significantly more likely than others to achieve financial comfort and wealth.
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