Cents and Sensibility: Schwab Survey Finds That Americans Define Wealth in Very Different Ways

Charles Schwab press release ------- Americans are split on their definitions of wealth, according to new research from Charles Schwab, 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: Having a lot of money (27 percent), Enjoying life’s experiences (24 percent), Being able to afford anything they want (22 percent), Living stress-free and having peace of mind (19 percent) and Having loving relationships with family and friends (12 percent). When asked to express how much is required to be considered “wealthy” in America, survey respondents say it’s an average of $2.4 million, or nearly 30 times the actual median net worth of U.S. households according to the U.S. Census Bureau. To get more in depth information click on the picture below to read the release.