Wealth Perception in America - Charles Schwab 2024 Modern Wealth Survey

Charles Schwab released findings from its 2024 Modern Wealth Survey, revealing Americans' perspectives on wealth. The average net worth considered wealthy is $2.5 million, with variations by generation and region. Younger Americans are more optimistic about becoming wealthy. Those with a financial plan feel more confident about their personal finances.

Market Volatility and Brokerage Outages

Major brokerages like Charles Schwab and Fidelity Investments experienced outages on Monday, leaving users frustrated amidst market volatility. The issues coincided with a sell-off in stocks and cryptocurrencies fueled by fears of a potential U.S. recession.