This is exactly how much money you need to call yourself rich in 2023
When asked to define wealth in their own words, 40% of Americans mentioned well-being, followed by money and assets.twice the number that mentioned money.
“There’s a disconnect between how people define wealth for themselves versus how they define it for others,” Oonnoonny said. Simply being able to afford a lifestyle similar to a friend’s made Gen Z and millennials feel wealthy, compared to 39% of Gen X and 31% of boomers. Younger consumers are also more motivated to spend money based on what they see scrolling through Instagram and TikTok with 55% and 46% of Gen Z and millennials saying social media influencers drive their financial decisions.
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