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What does it take to be wealthy in 2023? A million dollars in the bank?

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Two million? How about a salary in the high six figures?

In different ways, the average American family feels both wealthier and poorer now than a few years ago.

Median household wealth hit $192,900 last year, up 37% since 2019, the largest jump in the history of the Federal Reserve’s Survey of Consumer Finances.

But inflation also hit a 40-year high in 2022, and in 2023, interest rates surged to the steepest mark in 22 years, developments that left everyone’s purse feeling a bit lighter.

Many Americans still strive for that first million.

Yet, thanks to inflation, an item that cost $1 million in 2019 would cost $1.2 million today.

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In a recent survey of 2,000 Americans by the personal finance site LendingTree, 59% said they do not believe they will ever become wealthy.

Here, then, are five numbers that illustrate what it means to be wealthy in America today:

$2.6 million

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