What net worth does one need to be rich in 2024? Here's what Americans think

It takes more to be viewed as rich in the U.S. this year than it used to, according to new data.

Charles Schwab's annual Modern Wealth Survey released this week found Americans now believe it takes a $2.5 million net worth on average to be considered wealthy in 2024, up from $2.2 million for the past two years. 

Older generations actually think $2.5 million isn't enough to be considered rich, with baby boomers saying on average that the threshold for wealth should be $2.8 million....