The Definition of Wealth: Money or Mindset?

According to Charles Schwab's annual Modern Wealth Survey, Americans say you need a net worth of at least $2.2 million on average to feel wealthy. However, in certain metropolitan areas, such as San Francisco, you need a net worth of $4.7 million to be considered wealthy. The survey examined 12 of the biggest metropolitan areas in the country, covering 13 major cities. Despite these lofty numbers, 48% of Americans say they feel wealthy, with an average net worth of $560,000. Wealth is also a subjective term, with nearly two thirds of survey respondents saying enjoying relationships with loved ones better describes what wealth means to them, rather than having a lot of money.