I’m a Financial Consultant: Here’s How Much Money the Middle Class Needs To Feel Rich
Written by
Lydia Kibet
Edited by
Zuri Anderson
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For decades, many middle-class Americans believed that earning six figures meant they had finally “made it.” But in today’s economy, that milestone no longer carries the same weight it once did. Rising housing costs, higher grocery bills and expensive healthcare have reshaped what it means to feel financially secure or rich.
GOBankingRates spoke to Chris Dixon, a financial consultant and co-founder of Oxford Advisory Group, to find out how much the middle class needs to feel rich. His answer has less to do with a specific dollar amount and more to do with financial freedom.
Why 6 Figures No Longer Feels Rich
Not long ago, earning $100,000 a year was widely considered the benchmark for success. However, this is no longer the case. According to a 2025 income paradox survey, approximately 1 in 3 six-figure earners admit that they’re either stretched, struggling or drowning financially.
Inflation is the main culprit, which has outpaced wage growth. This has resulted in goals shifting for millions of Americans.
“One of the greatest indicators of this change is the rising average age of the first-time homebuyer, which was 40 last year,” Dixon said. “Owning a home has always been one of the core principles of achieving the American dream, and that has become increasingly difficult for the average buyer.”
It’s Less About a Number and More About Financial Freedom
Many people assume that hitting a certain income level or investment portfolio will make you feel wealthy. But Dixon said, “Feeling rich comes from the ability to navigate life freely and without constant financial stress. Seeing a certain dollar amount in your bank account is nice, but it’s the experiences that truly enrich our lives.”
For many middle-class families, that means being able to take two weeks off work for a family vacation, visit loved ones across the country or handle unexpected expenses without panic. When you can enjoy those moments without worrying about the cost, that’s when wealth feels real.
The Financial Milestones That Help You Feel Rich
Instead of chasing a specific number, Dixon pointed to three key financial milestones that move middle-class families from getting by to feeling secure and eventually rich.
First is emergency savings. “A healthy emergency fund that covers six months of expenses immediately moves the needle in feeling financially comfortable,” Dixon said. Knowing you can cover unexpected expenses or weather a sudden job loss creates peace of mind.
Second is manageable debt. High-interest credit card debt is a wealth killer.
“Those who feel wealthy are the ones who pay off their credit cards each month and don’t have to manage the burden of that balance,” Dixon noted.
Finally, a strong retirement plan makes a major difference.
“The ability to think forward with your finances is the true differentiator between getting by and feeling rich,” he said. When you consistently contribute to your retirement and can picture a stable financial future, it becomes easier to enjoy the present.
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