As a 22-year-old gal, I consider wealthy as getting a solid paycheck biweekly, and being able to fuel my Zeeks salad addiction, but you know – I’m a little out of the loop on these things.
Charles Schwab’s Modern Wealth Index evaluated Americans across four areas of saving and investing and surveyed Seattle residents. Seattle residents believe that it takes an average of $2.4 million to be considered wealthy, which is more than 30 times the actual median net worth of U.S. households. WHOA.
Here’s what the top five definitions of wealth means among Seattleites:
- Having a lot of money (35 percent)
- Being able to afford anything they want (32 percent)
- Enjoying life’s experiences (29 percent)
- Living stress-free and having peace of mind (19 percent)
- Having loving relationships with family and friends (13 percent)
Here’s some more interesting tid bits for ya:
- Eighty percent say wealth is spending time with family now vs. leaving an inheritance (20 percent)
- Sixty-six percent equate wealth with having good physical health vs. having a lot of money (34 percent)
- Ninety-one percent believe wealth is not having to stress over money vs. having more money than most people (9 percent)
I don't really know too much about finances and stuff, but my parents have always told me that as long as you have your family and your health – you’ll be the wealthiest gal or guy on the block. I think that's true.
For more information visit Charles Schwab’s Modern Wealth Index online.