Millions of millions are no longer considered money? What are the indicators of financial success? What the Americans say

The latest survey points out that 60% of Americans no longer think that being a millionaire is considered "financial success". One of the reasons is that the dollar's net worth is no longer as difficult as before, so a millionaire is no longer considered to be rich; but everyone believes that as long as you can "live comfortably", it is considered that financial success. According to the report from

CNBC channel, consumer financial service company "Bankrate" handled the 2024 financial success survey and found that less than two percent of millions of people are considered successful in finance, the same is true according to the analysis of each generation. Sarah Foster, chief American economic researcher at Bankrate, said 50 years ago in 1974, 1 million yuan was six times the current purchase power.

But now most people no longer view financial success in specific numbers or income levels; nearly 60% of visitors said that if they could "live comfortably", even if their financial success was successful, it means that they could pay for daily sales and still have money to save.

As a result, most Americans cannot afford the urgent sale of 1,000 yuan without using credit cards, the standard of "living comfortably" is not low. Foster said that salary is often no longer the best indicator of financial success; middle-income Americans strictly abide by budgets, save any money they can save, and prepare for the future. It feels much more reliable in terms of financial resources than those who earn as much as six figures but have a lot of credit card debt and no budget.

The rising prices of daily necessities such as food and housing have also shaped the current American view on financial safety.

Foster said that these feelings made the public give up their thoughts of expending money and just want to get to the point where they don’t worry about money.

Currently, most Americans still express their joy in achieving financial success one day; more than 60% think they have done it, while 11% think they have done it. But nearly 30% of people think they will never be able to do so.

Foster said that for those who think they never can, the most important thing is to examine their definition of financial success, and then plan to achieve it well. The first thing to do is to have a comprehensive understanding of their income and expenditure.

Foster's best advice is: In this era of high inflation, budgets must be strictly paid for; make sure you can pay for the expenses you can afford, and at the same time there is still enough money left, at least to help your financial goals.

Responsible editor: Gu Zihuan