Americans Cite $2.3M as 'Wealthy' Benchmark Amid Rising Debt
According to Schwab's 2025 Wealth Survey, Americans believe a net worth of $2.3 million is needed to be considered wealthy, while $839,000 is required to be financially comfortable. A recent podcast analysis reports that as of mid-2025, the average total consumer debt reached $104,755 per household. Credit card balances averaged $6,735 with annual percentage rates nearing 22%.
- The $2.3 million figure that Americans consider "wealthy" in 2025 represents a decrease from the $2.5 million benchmark identified in the 2024 survey. - Conversely, the net worth required to be "financially comfortable" increased year-over-year, rising from $778,000 in 2024. - Perceptions of wealth differ significantly across generations; Boomers cited a net worth of $2.8 million as the threshold for being wealthy, whereas Gen Z's benchmark was $1.7 million. - The increase in consumer debt is part of a larger trend that saw total U.S. household debt reach $18.59 trillion in the third quarter of 2025, according to the Federal Reserve Bank of New York. - Total U.S. credit card balances reached a record high of $1.277 trillion in the fourth quarter of 2025, the highest level since tracking began in 1999. - When asked why it feels like it takes more money to be wealthy compared to last year, 73% of survey respondents cited the impact of inflation and 62% pointed to a worsened economy. - These survey benchmarks are considerably higher than the median U.S. household net worth, which was $193,000 according to the Federal Reserve's most recent Survey of Consumer Finances. - Beyond finances, survey respondents also defined wealth in non-monetary terms, with 45% associating it with "happiness" and
