Net Worth: How much the rich consider "rich"

March 7, 2008

Only 22 percent of respondents to a new survey of affluent households thought $1 million is enough to be considered rich.

Once upon a time, a million dollars was considered a lot of loot. Not anymore, apparently. Only 22 percent of respondents to a new survey of affluent households thought $1 million is enough to be considered rich. When asked how much it would take to reach that echelon, 45 percent chose $5 million, 25 percent selected $25 million, and 8 percent picked-wait for it-a whopping $100 million.

The survey defined "affluent" households as those with investable assets of $500,000 or more. It was conducted by Millionaire Corner ( http://www.millionairecorner.com), a newly launched website that offers podcasts, blog posts, and forums to help the affluent build wealth and manage their money.