While a salary of over $100,000 would have been enough to make one feel financially good a decade ago, it doesn’t seem to be enough these days.
According to the recent Income Paradox Survey by The Harris Poll, 64% of six-figure earners admitted that they felt that a six-figure salary was no longer a sign of wealth and that they were in survival mode. The survey also showed that 44% of those who earn six figures felt that they were an unexpected bill away from “financial chaos.”
GOBankingRates consulted with experts to determine the minimum net worth you need to be considered rich in the US right now and how you can work to get there.
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Here’s what the research and experts had to say about the net worth that makes you rich in America today.
According to the recent Charles Schwab Modern Wealth Survey, Americans felt you needed a net worth of $2.3 million to be considered wealthy, down from the $2.5 million figure last year. The survey also found that Americans thought you needed $839,000 to be “financially comfortable”, up from the figure of $778,000 in 2024. The $2.3 million net worth makes sense because a million dollars may not be enough to retire on, and you have to factor in inflation when thinking about your money.
“Let’s assume that ‘rich enough’ is being able to receive annual dividends of $120,000 from your investments,” said Arie Brish, professor at St. Edwards University, board director, and investor. “With a moderate assumption of 5% per year, this is equivalent to a net worth of $2.4 million.”
Bish also noted that being rich depends on your definition of it and the level you want to reach. The numbers make sense, as they are close to what Americans perceive as rich in 2026.
“You have to have a minimum net worth of a million dollars to be considered rich if you’re 30 or younger,” said Melanie Musson, a finance expert with Quote.com. “You’re still in the middle of your career in your 30s, so expect to still be paying off some debts while you prepare for the future.” Since you still have income and time on your side, you can continue to grow your wealth as you think about retirement.
Musson also noted that the average American should have at least $1 million in retirement accounts before retiring. She warned that as you get older, you need more money to be considered rich because you are living off that net worth without contributing to it like you did when you were employed. That’s why it’s crucial to manage your funds on a consistent basis so you’re keeping up with inflation and your financial goals.