What does it mean to be rich?
According to a Schwab survey, Americans believe a personal net worth of $2.3 million or more makes someone rich. Net worth is calculated by adding up the value of assets minus liabilities. So you could have a personal net worth of $2.3 million if you own expensive real estate, have a valuable art collection, have lots of money in the bank or investment accounts, or own other valuable assets.
Most Americans have nowhere close to this much money. In fact, it's more than 20 times the median wealth a U.S. household possesses. But does that mean it's impossible for the average person to amass so much wealth?
Source Fool.com