Americans have high expectations of what it means to be financially successful but many of them do not expect to meet their desired level of success, according to a survey by financial planning company Empower.
An annual salary in excess of $270,000 is needed for a person to be considered successful in the United States, said the Nov. 22 survey found.
In terms of net worth, the threshold is at $5.3 million.
According to the Social Security Administration, the national average wage last year was $66,621. Meanwhile, the average net worth of a family in 2022 was $1.06 million, according to data from the U.S. Federal Reserve….