The Blubber

Per Fox 5 New York

A new Charles Schwab survey found out the dollar amount of what Americans think is considered wealthy. The estimation showed how the number differed for how one perceives himself and others.

The survey found a difference in the amount Americans felt wealthy and what they thought was needed for other people to be considered wealthy. This was displayed in how 48% of Americans who felt wealthy had an average net worth of $560,000.

It was also reported in a separate survey that the American millennials' average net worth was around $127,793. However, the average net worth for
Americans aged 35 to 44 were already at $436,200.

Regarding other people, the respondents noted that they would have to have $2.2 million for others to be considered wealthy. Charles Schwab managing director of financial planning, Rob Williams, gave a statement regarding what Americans thought about wealth.

The managing director noted that Americans now value healthy relationships, flexibility, and good health instead of just having additional money. It also noted that 79% of boomers thought wealth was enjoying experiences.

Williams: "Wealth today is more about healthy relationships with family/friends, good health and career flexibility than having more money."

See flow at unusualwhales.com/flow.

Other News:

• American millennials' average net worth sits at about $127,793
• The average net worth of Americans under age 35 was $76,300, compared to $436,200 for those aged 35 to 44

Resources:

Fox 5 New York