The average American thinks being rich means a $2.5 million net worth.
A Wednesday survey from Charles Schwab tracked the bar for wealth by generation, from Gen Z to Boomers. Each group gave a different number as the threshold to be rich; the older the group, the larger the magic number for wealth.
Gen Z (which Charles Schwab defined as born from 1997 to 2002) thinks it takes $1.2 million to be wealthy, while millennials (1981 to 1996) put the number at $2.2 million, Gen X (1965 to 1980) at $2.7 million, and boomers (1948 to 1964) at $2.8 million.
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