What It Takes to Be Rich Today. It's Less Than It Used To

Chalk up yet another way the COVID-19 pandemic has upended lives and perceptions: The crisis has changed the way Americans view wealth.

They believe that on average it takes $655,000 to be financially comfortable, down from $934,000 in January, according to Charles Schwab’s 2020 Modern Wealth survey.  And they think the minimum benchmark to be considered wealthy is $2 million, down from $2.6 million in January. The survey of 1,000 Americans was conducted for Schwab by Logica Research June 25-July 2.