When Schwab surveyed Americans again between June 25 and July 2, it found they'd drastically lowered their markers of financial success, saying it takes a net worth of $655,000 to be comfortable and a net worth of $2 million to be wealthy, on average.Interestingly, the Gen Xers who participated in the survey reported the largest adjustment to ideal comfort and wealth levels between January and June.
"In both our survey results and the client behavior we've observed since March, we're seeing a high percentage of people engage with their money and investments, and in many cases seek more help and guidance to make sure they're on the right track," Craig said. It's not that people's basic level of expenses have gone down during the pandemic — we're all still paying for food and shelter and making debt payments as best we can.
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