Are you wealthy (2 mill.) or just comfortable (1 million)?

[marylander1940]

The answer is not that simple and also depends on where you live. To no surprise is easier to be wealthy in the South but gentrification and people moving to some states might change it soon. 

 

How much money you need to be considered wealthy across the U.S.—it's over $2 million in most places

WWW.CNBC.COM

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Americans say you need $2.3 million to be wealthy in 2025, but that number changes depending on where they live.

 

[marylander1940]

Do you need $1 million to be financially 'comfortable'? Answers here.

WWW.USATODAY.COM

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Most people think you need millions to be wealthy. But what if you merely want to be "comfortable"?

 

[+ Charlie]

My late parents would have considered me wealthy now, but they never lived in 21st century Palm Springs. My father would be flabbergasted at what I paid for a simple haircut at the barber yesterday--he would have budgeted that amount for the family to have a holiday dinner at a good restaurant! He knew about money, because he was a credit investigator for Dun and Bradstreet in New York. But, of course, that was 80 years ago, when they had just bought a three bedroom house in the suburbs for $5500, with a 20 year mortgage (a smaller house across the street from me here just sold for $575,000). 

[+ Vegas_Millennial]

I read somewhere (Financial Samurai) that wealthy people should not have more than 40% of their net worth tied up in their house.  So, with $2 Million net worth, someone's house should not exceed $800K.  I've looked, and I can't buy a $800K one bedroom in Manhattan and feel wealthy.  I'm looking at moving to Ft Lauderdale in 2 years, and even $800K there doesn't buy anything that would scream "wealthy".

[Pd1_jap]

I guess I'm poor. Any daddies want to rescue me 🤪

[BeamerBikes]

“Father was well off, very well off.  His considerable income was derived from fireworks, bunting and other patriotic accruements”.  - Ragtime 

I’m supposed to be comfortable I suppose but it’s mainly locked up in a 401k prison. Then in home equity as well….  I gotta get busy living.  I’d rather die while I’m living than live while I’m dying.  
 

[Bokomaru]

$2.3M is wealthy in the Northeast??! News to me. I’d say more like 4.0+. 

[+ Vegas_Millennial]

On 12/6/2025 at 6:53 AM, marylander1940 said:

The answer is not that simple

Are you wealthy (2 mill.) or just comfortable (1 million)?

I wonder what amount is considered "comfortably wealthy"? 😉 

Edited Friday at 09:44 PM by Vegas_Millennial

[+ PhileasFogg]

Many say that the US lags other countries in household wealth - but these comparisons often exclude the NPV of the social security annuity (and we aren't the only ones to have a federally sponsored retirement trust fund).    But sometimes, wealth is more about consumption.   If I do the math, as a newly minted retiree, if I invest at a rate that earns 2% more than I consume, by new worth will double in 30 years when I'm likely be dead.    It' won't have the same purchasing power for my kids and grandkids, but it will be substantial simply because I limited my spending and investment goals to reasonable targets

 

[jeezifonly]

Me and the huzz are lucky.

We have, in Boomer fashion, done considerably better than our Deression-era parents.

Both our retirements happened with COVID in 2020 - more or less on schedule. 

We have no car loans, nor student loan debt, and have paid off our remodeled residence in a SoCA location we love, so no moving. There's investment property rental income, SS and modest annuity drawdowns. We're not 'lifestyle' types, nor lavish spenders or big travelers. Neither of us had full corporate pension plans, and only recently have dabbled in individual stocks. If together we liquidated everything to go be off the grid, (which would not ever be a thing) we'd be taxed on over 4M I imagine. 

Keeps the nieces and nephews interested. And there's no such thing as extra money until you're dead. 

Edited 1 hour ago by jeezifonly