Your Money

How much money is considered wealthy?

That's exactly what Schwab's 2021 Modern Wealth Survey set out to answer. No surprise, the findings differed by generation and dropped significantly from the levels identified in 2020, as over half of respondents said COVID impacted them financially.

While not disclosed in the survey's notes, I would guess the average respondent had less money than what they considered to be wealthy. This is simply because "wealthy" is not an adjective wealthy people would use to describe themselves. Interestingly, studies show they are more likely to disagree with the description in favor of a more generic term like "successful."

Here’s the net worth Americans say you need to be considered wealthy
by Megan Leonhardt

Your Life

If you sold your home, would you get back the investment you put in? How big could that investment have grown? An appraisal expert shares factors that affect home appraisals, such as:

• location
• recent neighborhood sales
• neighborhood land use
• lot size
• access to public utilities
• parking
• home age
• roof & foundation type
• square footage
• basement and attic features
• home appliances
• recent renovations, particularly kitchens and bathrooms

He also shares things that you can and cannot control, so you are aware as much as possible of what to expect.

What Hurts a Home Appraisal? 6 Common Factors to Consider
source: PureWow

Complexity Simplified

Trivia