Unless you were born into generational wealth, you’ve probably worried about money at one time or another. But if your goal is to have enough money so you don’t have to worry about it, have you thought about how much that would be? What’s the magic number you need to see in your bank account so that you don’t worry anymore?
Investment firm Charles Schwab’s 2025 Modern Wealth Survey asked 2,000 Americans ages 21 to 75 how much money they thought was needed to be considered “financially comfortable” — here’s what the survey found.
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The survey found that the average net worth needed to be “financially comfortable” is $839,000. This is an increase from the $778,000 figure from 2024, but down from the $1 million people said they needed to be financially comfortable in 2023.
Survey respondents were also asked how much money it takes to be considered wealthy. This year’s response of $2.3 million was down from the 2024 response of $2.5 million, but up from $2.2 million in 2023.
However, 63% of respondents said it takes more money to be wealthy this year than last, citing inflation, the cost of living and increased interest rates.
The amount of money needed to be financially comfortable or to be considered wealthy varies by generation.
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Gen Z survey respondents said they think that $329,000 is sufficient to be financially comfortable, and $1.7 million is the amount needed to be considered wealthy.
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Millennials said that a net worth of $847,000 will make you financially comfortable. If you have $2.1 million, you’d be considered wealthy.
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For GenX, the amount of money needed to be financially comfortable is $783,000. In order to be considered wealthy, you’d need $2.1 million.
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Of all the age cohorts, boomers had the highest expectations. They felt that you need $943,000 to be financially comfortable, and $2.8 million to be considered wealthy.
The Schwab survey also asked if people felt they were on track to be wealthy, or if they were already there.
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Over a third (35%) said they are already wealthy or on track to get there
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26% said they may be wealthy someday, but will have to make changes in their life to get there
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30% said they don’t think they will ever be wealthy
There’s more optimism among younger generations.