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Are You ‘Wealthy’ or Just ‘Comfortable’? Here’s the Difference
By Adam Hardy MONEY RESEARCH COLLECTIVE
Americans now say it takes $2.3M to feel wealthy and $839K to feel comfortable.
What’s the difference between feeling financially comfortable and bona-fide wealthy? Apparently, it’s about $1.5 million.
To feel “financially comfortable” in 2025, Americans now say it takes a net worth of $839,000 on average, according to Charles Schwab’s ninth annual Modern Wealth survey released Wednesday. To feel financially wealthy, however, it takes a lot more: a net worth of $2.3 million.
Much of the $1.5 million difference boils down to how people define “financially comfortable” and “wealthy.”
“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, managing director of financial planning at Charles Schwab, said in commentary shared with Money. “Both are important when it comes to understanding and managing your full financial picture.”
The net-worth readings for both “wealthy” and “financially comfortable” are the second highest on record at Schwab. Last year, Americans said $2.5 million made them feel wealthy, whereas $778,000 made them feel comfortable. (The highest reading for “financially comfortable” was $1 million in 2023.)
Schwab’s wealth survey was fielded in April and May and includes responses from more than 2,000 U.S. adults aged 21 to 75, who had average household earnings of $84,000.
Net worth is a popular measure of total wealth that looks at the value of assets (such as savings and property) minus liabilities (such as debts). It’s a broader financial reading than just earnings. When it comes to salaries, separate research shows most Americans say they’d need to make at least $200,000 to feel rich.
Feeling wealthy? That might depend on your age
As with most financial topics, there are stark divides among the different generations on how they feel about wealth.
Generally speaking, young adults say they need less money than their older counterparts to feel comfortable or wealthy. Twentysomethings are also more likely to say they already feel comfortable and wealthy.
Here’s a look at the responses by age group.
Net worth to feel "financially comfortable" in 2025 | Net worth to feel wealthy in 2025 | |
|---|---|---|
Gen Z (1997-2003) | $329,000 | $1.7 million |
Millennials (1981-1996) | $347,000 | $2.1 million |
Gen X (1965-1980) | $783,000 | $2.1 million |
Boomers (1948-1964) | $943,000 | $2.8 million |
Respondents were also asked if they think they will ever be wealthy in their lifetime. Gen Zers (43%) and millennials (42%) were far more likely to say they are “wealthy now” or “on track to be wealthy.”
Only 33% of Gen Xers and 20% of boomers say the same. Boomers’ financial pessimism reigns here — as it does in certain other areas of their finances — despite the generation having far higher net worths than younger adults. For instance, separate Schwab data shows the typical brokerage account balance for boomer investors is over $560,000. For millennial investors, it’s less than $125,000. On top of that, boomers on average have higher homeownership rates, 401(k) balances and salaries than Gen Z and millennial adults.
The financial optimism expressed by younger Americans could be stemming from financial preparation, as Gen Zers and millennials were more likely than the other groups in the wealth study to have reported creating a “formal plan” for their financial goals in life.
Meanwhile, 45% of boomers say they “don’t have a financial plan of any kind.”
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Adam Hardy is Money's lead data journalist. He writes news and feature stories aimed at helping everyday people manage their finances. He joined Money full-time in 2021 but has covered personal finance and economic topics since 2018. Previously, he worked for Forbes Advisor, The Penny Hoarder and Creative Loafing. In addition to those outlets, Adam’s work has been featured in a variety of local, national and international publications, including the Asia Times, Business Insider, Las Vegas Review-Journal, Yahoo! Finance, Nasdaq and several others. Adam graduated with a bachelor’s degree from the University of South Florida, where he studied magazine journalism and sociology. As a first-generation college graduate from a low-income, single-parent household, Adam understands firsthand the financial barriers that plague low-income Americans. His reporting aims to illuminate these issues. Since joining Money, Adam has already written over 300 articles, including a cover story on financial surveillance, a profile of Director Rohit Chopra of the Consumer Financial Protection Bureau and an investigation into flexible spending accounts, which found that workers forfeit billions of dollars annually through the workplace plans. He has also led data analysis on some of Money’s marquee rankings, including Best Places to Live, Best Places to Travel and Best Hospitals. He regularly contributes data reporting for Best Colleges, Best Banks and other lists as well. Adam also holds a multimedia storytelling certificate from Poynter’s News University and a data journalism certificate from the Investigative Reporters and Editors (IRE) at the University of Missouri. In 2017, he received an English teaching certification from the University of Cambridge, which he utilized during his time in Seoul, South Korea. There, he taught students of all ages, from 5 to 65, and worked with North Korean refugees who were resettling in the area. Now, Adam lives in Saint Petersburg, Florida, with his pup Bambi. He is a card-carrying shuffleboard club member.