36 min listen
286: How Much Money Does it Take to Be Considered Wealthy?
286: How Much Money Does it Take to Be Considered Wealthy?
ratings:
Length:
9 minutes
Released:
Jul 3, 2017
Format:
Podcast episode
Description
Learn how much money Americans think it takes to be considered wealthy. From CNBC.com, Kathleen Elkins: According to a Schwab survey on wealth, Americans say it takes an average of $2.4 million to be considered "wealthy." As for how much it takes to be "financially comfortable," survey respondents say it's an average of $1.1 million. By that standard, less than 10 percent of American households qualify as "comfortable," since less than 10 percent have over a million dollars. Americans are split on their definitions of wealth, with some describing wealth as a specific sum of money and others describing it more as a state of mind. When asked to define wealth, the top five sentiments among 1,000 Americans are: 1. Having a lot of money (27 percent) 2. Enjoying life’s experiences (24 percent) 3. Being able to afford anything they want (22 percent) 4. Living stress-free and having peace of mind (19 percent) 5. Having loving relationships with family and friends (12 percent) However, when asked to compare two opposing ideas of wealth at a more personal level, Americans lean into things that money can’t buy: •Sixty-five percent equate wealth with having good physical health vs. having lots of money (35 percent) •Fifty-eight percent say wealth is about having gratitude vs. having money (42 percent) This one surprised me because I think it’s a big departure from past generations of parents and grandparents: •Fifty-six percent believe wealth is about building community vs. working on one’s career (44 percent) Article is on my website at http://lindapjones.com, podcast 288. Please subscribe and leave me a review on iTunes or Stitcher Radio. Connect with me on social media at Twitter and IG @Lindapjones and Facebook @lindapjonesfanpage. Move your net worth in the right direction by getting “11 Quick Financial Tips to Boost Your Wealth” at www.lindapjones.com.
Released:
Jul 3, 2017
Format:
Podcast episode
Titles in the series (100)
002: The Twin Pillars of Wealth Building: Learn to invest like billionaires and create your luxury brand business by Be Wealthy & Smart