Charles Schwab’s 2025 Modern Wealth Survey reveals shifting perceptions of financial security

The 2025 Modern Wealth Survey, conducted by Charles Schwab in partnership with Logica Research, uncovers a growing disconnect between what Americans believe they need to feel financially secure and how confident they actually feel about their finances. As economic pressures persist, the study reveals that wealth is being redefined—not just by net worth, but by peace of mind, flexibility, and life satisfaction. The findings have sparked wide media coverage, including in Fortune, Yahoo Finance, Money magazine, Kiplinger and CBS News, among many others.

Rising costs, falling confidence
“What it takes to be wealthy in America” in Fortune magazine highlights a stark contrast between financial aspirations and lived reality. According to the Schwab study, Americans now say they need $1.47 million in net worth to feel wealthy, yet only 6% of respondents actually consider themselves wealthy. And the data shows that while Americans say they need $839,000 to feel financially comfortable. The article emphasizes that rising costs and economic uncertainty are outpacing income growth. However, building on last year’s findings, the study found that many do now define wealth in terms of freedom, control, and peace of mind and not just a dollar amount.

Wealth as well-being
Yahoo Finance emphasizes that emotional and mental well-being are central to how Americans define wealth today. The article quotes Rob Williams, managing director of financial planning at Charles Schwab: ““Happiness, health, and relationships are also very important when it comes to feeling wealthy. Many people don’t just want more money—they want more meaning, and that’s something to keep in mind when you’re planning out long-term goals and how to invest.”

Redefining comfort vs. wealth
Money magazine’s coverage of the Schwab Modern Wealth study focuses on the widening gap between what it means to be financially “comfortable” versus “wealthy.” The article highlights that Americans draw a clear line between the two, with comfort associated more with security and stability, and wealth tied to a sense of abundance and freedom. It reinforces the idea that these definitions are increasingly shaped by personal values and lifestyle expectations, rather than strict financial benchmarks. Money also breaks down the Schwab findings by generation, revealing sharp differences in financial expectations: Gen Z feels financially comfortable at $329,000, while Boomers place that threshold nearly three times higher at $943,000, with similar gaps in what each group considers “wealthy.”

Confidence is key
In the article “How to Turn Your Retirement Dreams Into Reality—Despite Your Fears,” Kiplinger uses the Schwab data to show how fear and uncertainty often stand in the way of retirement planning. The piece reinforces that emotional barriers—not just financial ones—can prevent people from taking meaningful steps toward their goals. Referencing the study’s findings, the article argues that building confidence and clarity through planning is just as important as reaching a specific financial milestone.

The power of a plan
CBS News business analyst Jill Schlesinger responds to the Schwab Modern Wealth study by encouraging Americans to take action, no matter their income level. She stresses the importance of having a financial plan, pointing out that only one-third of respondents in the survey report having one in place. Her advice is practical: focus on consistent saving, reduce debt, and invest with long-term goals in mind. Planning, she says, is essential to bridging the gap between financial expectations and lived experience.

About the Modern Wealth Survey
The online survey was conducted by Logica Research from April 24, 2025, to May 23, 2025, among a national sample of 2,000 Americans aged 21 to 75. An additional 200 Gen Z Americans completed the study. Quotas were set to balance the national sample on key demographic variables. Detailed results can be found here.