Apparently, just being a millionaire doesn’t mean you’re rich anymore.
According to a new study, the average person thinks you have to have a net worth of $2.3 million to be considered rich . . . and you need $1.1 million just to be, quote, “financially comfortable.”
Researchers asked people of different generations what your net worth has to be, for you to be “rich.” And not a single generation thinks just being a millionaire means you’re rich anymore.
The average answer is . . . $2.3 million. That’s more than 20 times higher than the median net worth in this country right now.
Generation Z, who are roughly nine through 22 years old, had the lowest threshold for being rich . . . they say it “only” takes $1.5 million.
Baby Boomers have the highest threshold, at $2.6 million.
The study also found that it takes a ton of money just to feel, quote, “financially comfortable.” The average answer for being just comfortable, not rich, was $1.1 million.