• Americans now believe it takes an average of $2.3 million to be considered wealthy. That’s a 21% rise since 2021, reflecting the way inflation and soaring costs have changed perceptions of wealth. While definitions of wealth vary by generation, most agree it’s not just about the money but also about security, well-being, and quality of life.

“If I had a million dollars… I’d be rich,” the Barenaked Ladies sang in their hit 1988 song.

At the time, a million dollars felt like a lot. But as inflation and tariffs have made essentially everything more expensive, that amount of money doesn’t feel like all that much at all. In fact, Americans now think it takes an average of $2.3 million to be considered wealthy, according to a Charles Schwab report.

The financial services firm surveyed 2,200

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