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Opinion
Mark Gongloff

The World’s Richest Country Has No Concept of Wealth

A lot of us are in for a rude awakening about how truly expensive it is to be “comfortable” in America in 2022.

How big is your nest egg?

How big is your nest egg?

Photographer: JOERG KOCH/DDP/AFP via Getty Images

How much money would it take to make you feel wealthy? What is wealth? What is money? These are just some of the mind-bending questions raised by the results of a new Charles Schwab Corp. survey taken way back in Ye Olden Times of February.

In a bit of a head-scratcher, the survey found that people think it takes $2.2 million in net worth to be “wealthy,” down from $2.6 million in 2020, just before the onset of the Covid-19 pandemic. Survey respondents think it takes $774,000 to be “comfortable,” which is down from $934,000.