BusinessBusiness & EconomyBusiness Line

Right here’s how worthy cash it takes to be regarded as ‘financially joyful’ in 12 major U.S. cities

Bibliometric Details: Issue No: 7 | Issue Month:July | Issue Year:2022

Somewhere between living paycheck-to-paycheck and proudly owning a yacht, American citizens are regarded as “financially joyful” in the event that they’ve a ranking value of $774,000, a fresh observe finds.

On the different hand, that quantity modifications relying on which city you dwell in. You can want a ranking value over $1 million to be regarded as financially joyful by your peers in cities with a high fee of living look after San Francisco or Original York, in step with monetary companies and products firm Charles Schwab’s annual Standard Wealth Uncover

In San Francisco, the threshold for what observe respondents beget in solutions financially joyful is a ranking value of $1.7 million. That is the supreme total in the observe, which examined 12 of the greatest metropolitan areas in the U.S. 

Right here’s a beget a examine what it takes to be viewed as financially joyful by city in 2022, as ranked by ranking value thresholds:

  1. San Francisco: $1.7 million
  2. Original York Metropolis: $1.4 million
  3. Southern California (entails Los Angeles and San Diego): $1.3 million
  4. Seattle: $1.2 million
  5. Washington, D.C.: $1.1 million
  6. Chicago: $956,000
  7. Houston: $919,000
  8. Boston: $892,000
  9. Dallas: $840,000
  10. Atlanta: $771,000
  11. Phoenix: $747,000
  12. Denver: $671,000

The online observe became conducted in early February, with a sample of 500 to 750 local residents for every metropolitan dwelling, between the ages of 21 and 75.

The term “financially joyful” is a subjective term that can indicate moderately loads of issues to different other folks. It may perhaps perhaps well indicate having loads of disposable revenue, or it may perhaps probably perhaps well indicate simply proudly owning a dwelling whereas having satisfactory cash left over every month to set for retirement.

To reduction set issues into level of view, the median ranking value per household in 2019 became $121,700, in step with the Federal Reserve’s most modern files

Uncover value is a measure of the value of the sources an person or corporation owns, minus the liabilities they owe.

Verify in now: Gain smarter about your cash and occupation with our weekly e-newsletter

Make now not hasten over:  Right here is how worthy cash it takes to be regarded as properly off in 12 major U.S. cities

Content Protection by

Back to top button