According to a recent survey, Americans believe it takes an average net worth of $2.5 million to be considered wealthy, reflecting a slight increase from previous years.
Rob Williams, managing director of Charles Schwab, notes, 'Wealth' means different things to different people, whether it's financial freedom, enriching experiences, or a dollar amount.
The survey finds that Californians believe it takes the most to be considered wealthy, with San Francisco residents estimating a threshold of $4.4 million.
While only about 10% of Americans consider themselves wealthy, 21% believe they are on track to achieve wealth, with younger Americans showing greater optimism.
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