While a decade ago a salary of more than $100,000 was enough to make a person feel financially well-off, it doesn’t seem to be enough today.
According to the Harris Poll’s recent Income Paradox survey, 64% of six-figure earners admitted that they believe a six-figure salary is no longer a sign of wealth and that they are in survival mode. The survey also revealed that 44% of six-figure earners believe they could avoid “financial chaos” with just one unexpected bill.
GOBankingRates consulted experts to determine the minimum net worth you currently have to be considered wealthy in the United States and how to work toward getting there.
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Here’s what research and experts have to say about the net worth that will make you rich in America today.
According to Charles Schwab’s most recent Modern Wealth Survey, Americans believe a net worth of $2.3 million is needed to be considered wealthy, down from $2.5 million last year. The survey also found that Americans think you need $839,000 to be “financially comfortable,” up from $778,000 in 2024. A net worth of $2.3 million makes sense because $1 million may not be enough to retire on, and inflation must be factored in when considering your money.
“Let’s assume ‘rich enough’ means being able to earn $120,000 in annual dividends from your investments,” said Arie Brish, a St. Edwards University professor, board member and investor. “Based on the modest assumption of 5% per annum, this equates to a net worth of $2.4 million.”
Bish also points out that being wealthy depends on how you define it and where you want to be. These numbers make sense because they are close to who Americans will think are wealthy in 2026.
“If you’re in your 30s or younger, you must have a net worth of at least $1 million to be considered wealthy,” says financial expert Melanie Musson of Quote.com. “You’re just halfway through your career in your 30s, so you still need to pay down some debt while preparing for the future.” Since you still have income and time, you can continue to grow your wealth as you think about retirement.
Musson also noted that the average American should have at least $1 million in a retirement account before retirement. She warns that as you get older, you’ll need more money to be considered wealthy because you’ll be living off your net worth and not contributing as much as you did when you were working. That’s why it’s crucial to continually manage your money so you can keep up with inflation and your financial goals.
