What Net Worth Makes You Rich in America Right Now
Written by
Martin Dasko
Edited by
Brendan McGinley
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While a salary of over $100,000 would’ve been enough for one to feel financially well off a decade ago, it doesn’t seem like enough these days.
According to the recent Income Paradox Survey conducted by The Harris Poll, 64% of six-figure earners admitted that they felt a six-figure salary was no longer a sign of wealth and that they were in survival mode. The survey also revealed that 44% of six-figure earners felt that they were one unexpected bill away from “financial chaos.”
GOBankingRates consulted with experts to determine the minimum net worth you would need to be considered rich in the U.S. right now and how you could work on getting there.
What Net Worth Makes You Rich in America Right Now?
Here’s what the research and experts had to say about the net worth that makes you rich in America today.
Americans Believe You Need $2.3 Million
According to Charles Schwab’s recent Modern Wealth Survey, Americans felt that you need 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 $778,000 figure in 2024. The $2.3 million net worth makes sense because one million dollars may not be enough to retire on, and you have to factor in inflation when thinking about your money.
$2.4 Million Could Be the Sweet Spot
“Let’s assume that ‘rich enough’ is being able to receive annual dividends of $120,000 from your investments,” said Arie Brish, a professor at St Edwards University, board director, and investor. “At a moderate assumption of 5% per year, this equates 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, since they’re close to what Americans perceive as rich in 2026.
One Million Dollars if You’re Still Young
“You have to have a minimum net worth of one million dollars to be considered wealthy if you’re in your 30s or younger,” said Melanie Musson, a finance expert with Quote.com. “You’re only halfway through your career in your 30s, so you’re expected to still be paying off some debts while preparing for the future.” Since you still have an 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 wealthy because you’ll be living off that net worth without contributing to it like you did when you were employed. This is why it’s crucial that you manage your funds on a consistent basis so that you’re keeping up with inflation and your financial goals.
Being Rich Is Subjective
Lee Tree, the director and co-founder of Money Helpdesk, feels that the term “rich” is relatively objective, so it’s challenging to specify a pinpoint figure in dollars that would make someone rich. It’s worth noting that being rich can depend on where someone lives and their lifestyle.
$1 Million in Liquid Assets
“Within the financial industry, for example, we determine someone who is ‘high-net-worth’ to be rich,” said Tree. “This is the level at which people usually need specialist personal wealth management services, and is the label given when an individual acquires $1 million in liquid assets.”
Tree also emphasized that if you want to be perceived as wealthy, you may need to have a net worth of $2 to $3 million due to the high cost of living. At this level, you may have the funds to make purchases that others can’t afford.
What Would It Take To Get There?
If you’re looking for quick and practical tips on how you can start managing your finances so that you can become considered rich one day, this is where you can start …
Invest in Your Retirement Accounts
Musson believes that to achieve a wealthy status, you should be maximizing your retirement accounts.
“If your employer offers 401(k) matching, contribute as much as they’ll match,” she said, “then contribute the maximum amount you can to a Roth IRA.” The goal is to take advantage of the options that are available to you to build wealth and increase your net worth.
Pay Down Debt
Musson said that you also need to pay off debt since your debts count against your net worth. This means that paying off debt will increase your net worth and allow you to focus on saving up.
Keep on Investing To Ensure Your Funds Are Working for You
“At the assumption of 5% compound growth per year, you can get to the $2.4M goal in 30 years if you save $36,000 per year, or save $11,000 per year to get there in 50 years,” stated Bish. Investing beyond your retirement accounts is essential to building your net worth and diversifying your portfolio with stocks, real estate, and other assets.
You’ll want to ensure you’re consistently investing and contributing to retirement accounts so your funds keep growing. While the definition of being rich will change in a decade, it’s important that you do your best to get started so that you’re going in the right direction.
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