Determining if you're rich is a subjective matter and depends on personal circumstances.
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Schwab’s 2022 Modern Wealth Survey suggests that the average American views a net worth of $2.2 million as being rich.
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Wealth doesn't have a universal definition and varies from person to person.
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Factors like personal beliefs, principles, and lifestyle influence one's perception of wealth.
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About 2% of the U.S. population holds enough wealth to meet the current definition of being rich.
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Many Americans consider factors beyond just monetary wealth, such as fulfillment and alignment of values at work.
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Some may equate financial comfort with being wealthy, which can vary based on individual lifestyles and priorities.
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Saving money, living below your means, and budgeting are key habits for accumulating wealth.
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Being able to afford what you want and achieving financial goals are signs of wealth.
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Viewing money as a tool for a better life, rather than an enemy, is an important mindset for building wealth.
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