How Much Money Does It Take To Feel Rich In 2024? Benzinga Poll Reveals The Millionaire Sweet Spot

Being financially secure and having enough money to stop worrying about work is a common aspiration, especially for those aiming for a comfortable and successful retirement.

A recent Benzinga poll could highlight how much money people have to have to consider themselves rich.

"How much money would you need to feel rich in 2024?" Benzing recently asked.

The results were:

• Less than $1 million: 19%
• $1 million – $5 million: 34%
• $5 million – $10 million: 30%
• $10 million – $50 million: 9%
• More than $50 million: 9%

The poll found that $1 million to $5 million is the sweet spot for people to feel rich, with nearly one third of respondents picking this range.

Ranking a close second was the $5 million to $10 million range. Overall, the majority of respondents (53%) said having $5 million or less would make them feel rich.

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This might come as a surprise, given the rising costs of home ownership, consumer goods, and basic living expenses.

The good news is that the poll found that many people don't consider being rich as having more than $50 million, which tied for last with 9% of the vote.

A study by Northwestern Mutual shared by Benzinga earlier this year found that $1.46 million was the magic number that people needed to retire today, but that amount could continue to rise.

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The study was conducted by Benzinga from Oct. 15 through Oct. 17, 2024, and included the responses of a diverse population of adults 18 or older. Opting into the survey was completely voluntary, with no incentives offered to potential respondents. The study reflects results from 104 adults.

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