- Jun 13, 2014
- 12,702
- 22,997
Founding Member
Ask this question to people and the answers are all over the place. While $1 million is a lot of money it sure isn't what it used to be.
A Schwab survey put the number at $2.27 million based on responses from Americans. I would say that's a very comfortable number. At that number earning a conservative 4% you could withdraw $10K/month for 30 years and still have over a half million for your heirs. Not too shabby.
How much money Americans think you need to be considered 'wealthy'
I guess my number would be one that gives me enough money to not worry about money any more. Enough to finance all the travel and things I plan to do in retirement and help my kids and eventual grand kids. I'm thinking around a bazillion should do it.
Then again, as I said, others' needs might be a little different than mine......
A Schwab survey put the number at $2.27 million based on responses from Americans. I would say that's a very comfortable number. At that number earning a conservative 4% you could withdraw $10K/month for 30 years and still have over a half million for your heirs. Not too shabby.
How much money Americans think you need to be considered 'wealthy'
I guess my number would be one that gives me enough money to not worry about money any more. Enough to finance all the travel and things I plan to do in retirement and help my kids and eventual grand kids. I'm thinking around a bazillion should do it.
Then again, as I said, others' needs might be a little different than mine......
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