Core Insights - The average net worth that Americans believe is necessary to be considered wealthy has decreased to $2.3 million, down from $2.5 million in 2024, indicating a perception of a worsening economy [1][2] - The threshold for being deemed wealthy has remained above $2 million since 2022, while the average net worth required for being "financially comfortable" has increased to $839,000 from $778,000 last year [4][5] Wealth Perception by Generation - Baby Boomers consider an average net worth of $2.8 million necessary to be classified as wealthy, which is higher than other generations [5] - Generation X and Millennials believe $2.1 million is needed to be wealthy, while Generation Z has a lower threshold of $1.7 million [6] - For financial comfort, Baby Boomers require $943,000, followed by Millennials at $847,000, Gen X at $783,000, and Gen Z at $329,000 [6] Economic Factors Influencing Wealth Perception - 63% of respondents feel that it takes more money to be wealthy compared to last year, with inflation being cited by 73% of those who feel this way [7] - Economic conditions, taxes, and higher interest rates are significant factors influencing the perception of needing more money to be considered wealthy [9] Current Wealth Status - Approximately 35% of Americans feel they are "wealthy now" or "on track to be wealthy," with Generation Z showing the most optimism at 43% [10] - Those who are actively saving, investing, and have a financial plan tend to be more optimistic about their wealth status [11] Definitions of Wealth - Happiness and financial resources are the primary factors defining wealth for Americans, cited by 45% and 44% respectively [13] - The median wealth per U.S. adult was reported at $124,041 in 2024, with the total number of millionaires in America reaching 23.8 million, a 1.5% increase from the previous year [13]