According to a new survey from Charles Schwab, Americans say it takes an average of $2.4 million to be considered "wealthy." As for how much it takes to be "financially comfortable," survey respondents say it's an average of $1.1 million.
By that standard, less than 10 percent of American households qualify as "comfortable," since less than 10 percent have over a million dollars.
That begs the question, how much money really is enough?
"How do you determine how much money you need?" Torabi asks Cramer. While it's different for everybody, Cramer offered a general rule of thumb: First, determine what expenses or extravagances are important to you. Next, aim for the income required to spend without guilt on those extravagances, and then be more restrained in other areas of your life.