Here's how much money Americans think is enough to be 'financially comfortable.' (via CNBCMakeIt)
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If you asked Americans how much money it would take to be considered "financially comfortable" in January 2020, before the coronavirus pandemic hit the U.S., the responses would look a lot different than they do today. In January, Americans said it would take a net worth of $934,000, on average, to be considered "financially comfortable." In June, that number dropped considerably, to $655,000.'s 2020 Modern Wealth Survey, which asked 1,000 adults between 21 and 75 what personal net worth it would take to feel "financially comfortable" and "wealthy.
The responses varied between age groups, with Gen Xers needing the most to feel comfortable: $943,000 today and $1.5 million in January. Here's the breakdown of how much each age cohort needs to feel financially comfortable as of June 2020, according to Schwab. The numbers reported are averages.Net worth it takes to be wealthy:Net worth it takes to be wealthy:Net worth it takes to be wealthy:Net worth it takes to be wealthy:The results come as most Americans said that they were financially impacted by Covid-19, with millennials most affected . Millennials also feel the most financially stressed, according to the report.
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