How Much Does It Take to Be Considered Wealthy? The Surprising Answer

TLDRThe average net worth people think is needed to be wealthy is $2.2 million, but 48% of respondents with an average net worth of $560K consider themselves wealthy. Time is considered more important than money, and fulfillment and purpose are prioritized over career success. Only a third of respondents have a financial plan, but those who do feel confident about reaching their financial goals. Not stressing about money is more important than having more money than others. Wealth means different things to different people, with well-being and assets being more important than money.

Key insights

🤩48% of respondents with an average net worth of $560K consider themselves wealthy.

Time is considered more important than money.

🌟Fulfillment and purpose are prioritized over career success.

📝Only a third of respondents have a financial plan.

💰Not stressing about money is more important than having more money than others.

Q&A

What is the average net worth people think is needed to be considered wealthy?

The average net worth people think is needed to be considered wealthy is $2.2 million.

Do people with lower net worth consider themselves wealthy?

Yes, 48% of respondents with an average net worth of $560K consider themselves wealthy.

What is more important, time or money?

Time is considered more important than money.

What is prioritized over career success?

Fulfillment and purpose are prioritized over career success.

How many people have a financial plan?

Only a third of respondents have a financial plan.

Timestamped Summary

00:00The average net worth people think is needed to be considered wealthy is $2.2 million, but 48% of respondents with an average net worth of $560K consider themselves wealthy.

01:01Time is considered more important than money, especially for people who are 57 and above.

01:31Fulfillment and purpose are prioritized over career success, with 70% of people saying not stressing about money is more important than having more money than others.

02:01Only a third of respondents have a financial plan, but 92% of them feel confident about reaching their financial goals.

02:20Wealth means different things to different people, with well-being and assets being more important than money.