Survey: Bay Area residents need $6M to be 'wealthy'
SAN FRANCISCO (KTVU) - It takes a lot of dough to be considered wealthy in the Bay Area.
According to a survey of 1,000 residents by Charles Schwab, locals think it takes a net worth of more than $6 million to be considered wealthy in the Bay Area, and more than $1 million to be considered financially comfortable. Those surveyed said it would take about $2.5 million in net worth to be considered wealthy in the rest of the country.
Of those surveyed, 86 percent said the region's cost of living is unreasonable.
Although people surveyed said the cost of living was too high, Bay Area residents are positive about the job market, and 80 percent say it's a place for career growth.
The survey was conducted from January 21 to February 5.