Ask ten Americans what it means to “feel rich,” and you’ll probably get ten very different answers—each tied to comfort, security, and the dream of never worrying about bills again. But according to a new GOBankingRates survey, there’s one number that keeps climbing higher. The findings reveal how shifting costs and changing definitions of success are reshaping what Americans consider true wealth. So, how much money would finally make you feel rich? Let’s dig into what the numbers (and the people behind them) say.
The Magic Number Keeps Rising
In GOBankingRates’ nationwide survey of 1,000 adults, 34% said you need more than $500,000 in savings and investments to feel financially secure. That number isn’t about flashy cars or oceanfront homes—it’s the comfort zone where most feel they can breathe easy. Yet experts say it’s far from a luxury cushion.
Financial specialist Tyler Rayman explained that a $500,000 portfolio, if tapped at a safe 4 percent withdrawal rate, only provides about $20,000 a year—barely enough for basic living costs in many U.S. cities. Rising housing prices, health expenses, and everyday inflation have stretched what “secure” really means. For most, it’s no longer about being rich; it’s about staying stable.
The Millionaire Mindset
Still, hope isn’t lost. Many Americans, especially Gen Z, are aiming higher. When asked if they believe they’ll become millionaires, this youngest working generation was the most confident of all. That confidence might be well placed. Experts point to Gen Z’s early access to financial tools and AI-powered budgeting that older generations never had.
John Gillet, a financial planner, called the million-dollar mark a “solid retirement target,” saying it’s a realistic figure for lasting security—especially when paired with low debt and steady Social Security benefits. It’s a psychological milestone as much as a financial one, symbolizing freedom from living paycheck to paycheck.
Reality Check For Older Generations
But optimism fades with age. Only about 27% of Americans aged 44 to 54 and 25% of those 55 to 64 say they’re on track for retirement. Even more revealing, nearly one in three expect to work part-time after retiring just to keep up with expenses.
Rayman attributes this to what he calls the “catch-up trap.” Many adults delay saving because they assume that they’ll have time later, only to realize compound growth doesn’t wait. Immediate expenses—mortgages, tuition, and medical bills—often take priority, pushing retirement funds aside until it’s too late to grow meaningfully.
Redefining Financial Security
Still, the takeaway isn’t all gloom. Rayman reminds Americans that true financial security isn’t a fixed number—it’s the ability to cover what matters most without panic. Manageable debt and emergency savings can outweigh any magic figure. As he puts it, “Financial security is not about how much you have. It’s the confidence that you can meet your obligations and weather life’s surprises without stress.”
So, how much money do you really need to feel rich? For many Americans, it’s somewhere between comfort and confidence—half a million in assets for peace of mind, a million for full freedom. But the smarter play isn’t chasing a number; it’s building habits that let your money work quietly behind the scenes. After all, wealth isn’t just what you have—it’s how secure you feel holding onto it.
