Americans Say You Need $5.3 Million to Be Considered a Success

In addition to net worth, the threshold for annual salary is $270,000, according to a new survey.

The price of success? About $270,000 a year.

That’s the annual salary it takes to be considered financially successful, according to a survey released Friday by financial services company Empower. The hurdle for net worth is $5.3 million, according to respondents.

Those numbers are well beyond the reach of most Americans. The average US salary in 2023 was about $67,000, according to the Social Security Administration, and the mean 401(k) balance at Fidelity Investments as of this year’s second quarter this year was $127,100. While home ownership can send one’s net worth soaring, affordability remains a major issue for Americans who don’t own property.

Fewer than four in 10 people surveyed consider themselves financially successful, with a higher percentage of men (42%) saying that than women (33%). Close to half of respondents don’t expect to reach the level of success they’d like. Among the greatest obstacles cited were the economy and a lack of savings (both chosen by 35% of respondents) and “irregular or insufficient income streams” (30%).

For all the big numbers, 43% of respondents said their idea of success wasn’t tied to a set sum. Nearly six in 10 said the most important measure is happiness. (The survey defined happiness as “being able to spend money on the things and experiences that bring the most joy.”) More than a third of respondents said physical wellbeing and free time were important measures of success.

The nationally representative online survey by Morning Consult reached 2,203 Americans in September.