SAN FRANCISCO (KRON) — If you do not already feel poor living in the Bay Area, you probably will now.
A survey conducted by Charles Schwab asked 1,000 Bay Area residents what they considered enough money to be “wealthy” versus “comfortable.”
The results of that survey said in order to be considered wealthy in the Bay Area, you need a net worth of at least $6 million.
And you better have a net worth of $1 million just to feel comfortable. In other parts of the country, people figured $2.5 million was enough for wealth status.
The same survey also found that most people think the cost of living in the Bay Area is unreasonable and living there makes it “difficult to reach financial goals.”
On the brighter side, people agree it is a good place for innovation, the survey said.