How Much Americans Need to Feel ‘Financially Comfortable’ in 2025
What’s the average net worth it takes to feel “financially comfortable” in America right now? According to the 2025 Modern Wealth Survey released Wednesday by Charles Schwab, it takes $839,000 to be financially comfortable. While that’s up substantially from $778,000 last year, it is also down substantially from the $1 million Americans cited in this same poll in 2023.
To be considered “wealthy” in America, people think it takes a net worth of at least $2.3 million, which is a slight drop from last year ($2.5 million) but consistent with the longer-term trend.
The annual survey that examines Americans’ perspectives on saving, spending, investing, and wealth. While the dollar amount to be considered wealthy has remained relatively consistent over the last several years, Americans still say the bar to achieve monetary wealth feels like it is increasing.
Nearly two-thirds (63%) of survey respondents say it feels like it takes more money to be wealthy today when compared with last year, and they cite the impact of inflation (73%), a worsened economy (62%), and higher taxes (48%) as the top reasons. Forty-three percent of survey respondents cite higher interest rates and the impact on borrowing as a 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,” said Rob Williams, CFP, managing director of financial planning at Charles Schwab. “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.”
Consistently with previous years of the study, Gen Z sets the lowest threshold for what it takes to be financially comfortable. Younger people are also more optimistic they’re on the right track—43% of Gen Z respondents and 42% of Millennials believe they’ll achieve wealth (or already have), versus only 33% of Gen X and 20% of Boomers who say the same.
The survey also finds that Gen Z and Millennials are the most likely among the generations to have documented their financial goals in a formal plan.
“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.”
Wealth about more than money
Americans define wealth as more than just money, the survey shows. When asked what it means to be wealthy, people place equal value on happiness as they do financial success. Physical health, mental health, and strong personal relationships are also seen as key components of wealth.
When it comes to happiness and wellbeing, the survey finds the vast majority of Americans feel rich. Eight in 10 respondents feel wealthy when it comes to the quality of their relationships (83%), their happiness (83%), and the amount of free time they have (81%).
Reaching wealth goals
The survey shows that most Americans believe financial comfort and wealth are achievable, but for many, hitting those goals can feel like a stretch.
Nearly half (48%) of Americans surveyed say they are either already financially comfortable or are on track to be. A quarter (25%) say achieving financial comfort is possible but will require life changes.
In terms of achieving wealth, a third (35%) of Americans think they are either on track or already wealthy while a quarter (26%) think they can get there but say it would require significant changes to their lifestyle.
Across the board, the survey reveals achieving financial comfort and wealth are significantly more attainable for people who identify as savers, investors, and planners.
The online survey was conducted in April and May 2025, among a national sample of 2,000 Americans aged 21 to 75. An additional 200 Gen Z Americans completed the study. Detailed results can be found here.
SEE ALSO:
• ‘Magic Number’ for Retirement Drops to $1.26M for 2025
• Feeling ‘Financially Comfortable’ Takes Less in 2024
• U.S. Dominates World Wealth Growth, Millionaire Populations
Veteran financial services industry journalist Brian Anderson joined 401(k) Specialist as Managing Editor in January 2019. He has led editorial content for a variety of well-known properties including Insurance Forums, Life Insurance Selling, National Underwriter Life & Health, and Senior Market Advisor. He has always maintained a focus on providing readers with timely, useful information intended to help them build their business.
