A 2025 survey by FlexJobs found that two-thirds (64%) of Americans define financial success as requiring at least a six-figure salary. Half (49%) said an income between $101,000 to $250,000 represents success.
But that feels awfully simplistic.
“It’s possible to earn $250,000 a year and still feel broke — and possible to earn $85,000 and feel in control,” notes Lon Welsh, founder at Ironton Capital. The difference lies in how people define ‘enough,’ debt levels, family responsibilities and the breathing room available at the end of each month.”
And that says nothing of the vast differences in local cost of living.
So what’s “enough,” and more importantly, how can you enjoy the feeling of success without having to double your income?
Where you live will have different implications on your financial health.
According to Numbeo, it costs 48.3% less to live in Kansas City than in New York City. In other words, you’d have to earn $100,000 in New York to enjoy the same quality of life as someone earning $51,700 in Kansas City.
Where you live matters, and clearly affects how much you need to earn to feel successful.
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Someone clawing their way out of debt needs a higher income to feel financially successful, as well.
“If you have $100,000 in student loan debt, a significant part of your paycheck will go toward paying back those loans,” explains Melanie Musson, finance expert with Clearsurance.com. “You’ll need to earn more to be comfortable.”
Sure enough, an October survey by Citizens Bank found that 64% of young adults define financial success as living debt-free.
It doesn’t matter how much you earn if you spend every penny. A person earning $50,000 a year and saving $10,000 will build wealth faster than someone earning $250,000 and spending $249,000.
Financial freedom comes from wealth: From investments that compound or generate passive income. As you build your net worth and passive income streams, you become less dependent on your day job, until finally you reach financial independence and work becomes optional.
When people talk about “financial success,” they may use specific dollar amounts to help quantify it. But what they really want is the flexibility and freedom to live on their own terms.
Financial planner Michael Harris of Emory Wealth puts it succinctly: “You define your own success. How much you ‘need’ to be successful depends entirely on your personal values.”