For many Americans the measuring stick for “how rich is rich” increases as pay increases, according to a new survey.
Though median income for four-person households is $50,000 a year, the majority responded $63,000 is needed to live comfortably and $155,000 is “rich,” according to a Roper Starch Worldwide Inc. survey commissioned by Hearst Magazines.
The more money being made by respondents, the more likely they were to raise their dollar definition of rich.
“What is so striking about this research is that the American Dream is no longer a cookie-cutter vision of the way life should be led,” said Michael Clinton, senior vice president of Hearst Magazines, in a Roper press release.
Although Americans are experiencing increasingly less leisure time, 55 percent said they would choose more money over more leisure time, according to the survey.
Personal freedom is valued most among Americans. The best thing about America, 34 percent responded, is feeling like “people can live their lives the way they want to.”
The majority (67 percent) believe technology has created less leisure time by causing more work and 62 percent believe new technology products “create more problems than they solve.”
The survey was conducted nationwide of 2,000 adult men and women.
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