Only 23% of Americans say you need to earn 6 figures to be rich—here’s what’s more important

Being “rich” is no longer about buying a fancy car or having the largest home — it’s about financial security.

Rather than indulgence or excess, today’s Americans associate wealth with stability and peace of mind. Americans say that being wealthy means living comfortably without financial concerns, feeling financially secure and being debt-free, according to a recent survey by LendingTree.

Over half of Americans define wealth as having no financial concerns. That’s more than double the 23% who associate it with earning six figures and the 26% who say it means having a net worth of $1 million or more, the survey found.

In fact, 4 in 5 Americans don’t consider themselves wealthy, and among those making six figures, 58% still say they’re not wealthy, the survey said.

When asked what “wealth” means to them, survey respondents’ top three answers were: