What does it really take to “feel wealthy” today? According to the 2025 Charles Schwab Modern Wealth Survey, people say a net worth of $839,000 signals financial comfort—up from $778,000 in 2024—while the perceived threshold for feeling wealthy slipped to $2.3 million from $2.5 million.

That paradox hints at something deeper than math: a shift in how people measure security, freedom, and satisfaction.

The Snapshot

The survey reflects sentiment, not a rulebook. It was conducted online by an independent research firm for the study sponsor, using a nationally representative sample of adults ages 21 to 75. “Comfortable” often means stable housing, manageable debt, an ample emergency cushion, and predictable cash flow. “Wealthy” signals surplus—choices without constant trade-offs. Location and lifestyle still drive the spread: in low-cost regions, a lower number can feel abundant; in high-cost cities, the runway needs to be longer.

Why Downshift?

Several forces likely pulled the “wealthy” threshold down. First, lifestyle inflation has hit a ceiling for many households. After years of higher prices and steeper borrowing costs, the goalposts have moved from “more” to “enough.” Having paid-off shelter, reliable income, and low fixed costs now feels like luxury compared with juggling rising bills.

Remote and hybrid work also changed the math. Moving from premium zip codes to value markets stretches every dollar—so the same balance sheet buys more calm, space, and time. Meanwhile, the definition of wealth has broadened. People increasingly prize health, autonomy, and relationships alongside net worth; without well-being, more money adds little utility.

Markets deserve a mention, too. A market recovery in recent quarters boosted account balances, creating a wealth effect that eases anxiety—even if spending habits didn’t change. Finally, psychology matters: in self-reported surveys, expectations often anchor to recent experiences. After years of volatility and adjustment, “wealthy enough” can feel wiser than “bigger forever.”

Place Matters

Geography drives thresholds. In high-cost coastal hubs, reaching “wealthy” may require a bigger base to fund housing, taxes, and services. A useful illustration: using a simple inflation-adjustment example (illustrative, not a forecast), $3 million in 2012 equals roughly $5 million today—about the level many high-cost households cite as their comfort runway. In lower-cost regions, $2.3–$2.5 million can support an upper-middle-class lifestyle, especially with paid-off housing and modest fixed costs.

Wealth Redefined

Wealth is tilting from status to sovereignty. The most valuable assets are often invisible: time flexibility, healthspan, and optionality. A practical “security stack” looks like this: 6–12 months of expenses in cash-like reserves; resilient income (career, business, dividends, or rentals); diversified investments; and insurance that actually matches risks. When the pillars are strong, the target number can shrink without sacrificing peace of mind.

Practical Benchmarks

Rules of thumb help calibrate without obsessing over headlines:

• Comfortable: assets that can cover 25× essential annual expenses (housing, food, utilities, baseline healthcare).

• Wealthy: 25–30× total annual spending (essentials + lifestyle) plus line items for big goals (education, home projects, legacy).

• Mortgage “sleep factor”: if a portfolio can retire the mortgage and still leave 20× annual spending, stress levels usually plunge.

• Flex test: could one partner pause work for a year without selling growth assets? If yes, resilience is high.

These are directional—not prescriptions. The right target depends on age, dependents, career durability, and risk tolerance.

Benjamin Graham, investor and author, states, “The individual investor should act consistently as an investor and not as a speculator.”

Action Moves

Shrink fixed costs first. Every dollar of permanent expense cut is a dollar of permanent freedom gained. Revisit insurance deductibles and limits, prune idle subscriptions, refinance or shop utilities where possible, and prioritize maintenance to prevent expensive surprises.

Next, build income layers. Diversify beyond a single paycheck: employer stock proceeds, a side business, rental cash flow, or a simple index-fund dividend stream. Automate investing to neutralize market emotions—steady contributions beat sporadic conviction.

Match portfolio risk to time horizon. Growth assets compound best when not raided for near-term bills, so keep 12–24 months of spending in cash-like reserves if that lowers the urge to sell during downturns. For the rest, low-cost, diversified exposure usually outperforms tinkering.

Finally, spend where it compounds life: health, skills, and relationships. A great mattress, preventative care, a certification that increases earnings, or a trip that strengthens family bonds often deliver higher real returns than a marginal balance-sheet gain.

Calibrate Locally

If the national “wealthy” number feels off, run a local calculation. Tally annual spending by category, then apply a buffer for your city’s housing and taxes. Layer in goals—education, home upgrades, caregiving—and stress-test with scenario-based thinking: what if markets flatline for three years? What if a job gap lasts nine months? A plan that survives realistic “bad weather” is the one that lets you relax during sunny days.

Conclusion

Needing less to feel wealthy doesn’t mean settling; it signals a smarter target—one that centers security, flexibility, and well-being over bragging rights. If this shift proves durable, it may reflect a healthier definition of “enough.” What would your number be if it were based on the life you want—rather than the number everyone else quotes?