EVERYDAY WEALTH IN AMERICA 2022 Report

What does it mean to be “wealthy”? The definition depends on many variables - from the concerns we have about the world around us, to the influences of our own relationships and values. At Edelman Financial Engines, we have explored this intersection of life and money with the goal of better understanding what drives people's financial beliefs and behaviors.

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Perception of Wealth

Few people feel wealthy and financially secure today

of total respondents and 29% of millionaires feel wealthy

How much in the bank to feel secure?

$
1M

57% of Americans

$
3M

53% of the Affluent

$
5M

33% of the Affluent

Wealth & Emotion

Inflation is causing worry and affecting spending behavior

have had to adjust to rising prices and impacted portfolios

49%

Buying
fewer things
for themselves

46%

Less on
recreation and
entertainment

42%

Reduced
spending
on food

Communication

Couples still argue about money, but many want a more open dialogue

of all respondents admitted that they fought with their partners about money

27%

Have also fought about
money with other family
members

38%

Wished they talked more
about financial matters
with their partner

Professional Guidance

Working with a financial Professional can help ease the Emotional burden

who work with a financial advisor were less stressed

70%

Believed their advisors help them address difficult and emotional money topics

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Explore additional insights from Everyday Wealth in America 2022: The Intersection of Life and Money.

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Media Contact: PRTeam@EdelmanFinancialEngines.com

The Everyday Wealth in America research was conducted for Edelman Financial Engines by Greenwald Research. Information was gathered through an online survey of 2,011 Americans who were at least 30 years old, from Aug. 30 to Sept. 7, 2022. The total sample included an oversample of 1,003 “affluent” respondents between the ages of 45-70, with household assets between $500K-$3M, and currently working with a financial professional or open to doing so. Data was weighted to correct for the affluent oversample and was also weighted by household assets, age, gender, race, and education to reflect the broader national population. If randomly conducted, the survey would have a margin of error (at the 95% confidence level) of plus or minus 2 percentage points.