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This is the net worth Americans say you need to be financially comfortable
Published Mon, May 17 20219:00 AM EDT

When it comes to acheiving financial peace of mind, you might not need to be a millionaire. In fact, Americans say you only need a net worth of $624,000 to be considered “financially comfortable.”

That’s down significantly from the $934,000 net worth that Americans cited as the minimum needed for financial comfort last year, according to Schwab’s 2021 Modern Wealth Survey, an annual poll of 1,000 U.S. adults that focuses on how Americans think about saving, spending, investing and wealth.

The Covid-19 pandemic almost certainly played a role in lowering the bar when it comes to net worth, which is essentially a calculation of all of a person’s assets — including cash in checking and savings accounts, financial investments and the value of any real estate or vehicles owned — minus all their debt, including credit card balances, student loans and mortgages.

The global health and economic crisis caused many Americans to reprioritize what’s important, Schwab found. About 69% of survey respondents say mental health is more important to them now than it was before.

The definition of financial comfort also varies by age and gender. Men feel you need a net worth of $864,000 to be considered “financially comfortable,” which is more than double the $325,000 net worth cited by women.

https://www.cnbc.com/2021/05/17/net-worth-americans-say-you-need-to-be-financially-comfortable.html


They didn't ask my wife.