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Podcast: Money Life with Chuck Jaffe
Episode: Having a million dollars doesn't make you wealthy any more
Description: Rob Williams, managing director of financial planning for Charles Schwab, discusses the firm's 2023 Modern Wealth Survey, which showed that Americans feel they need $2.2 million to actually 'be wealthy,' but just $560,000 to 'feel wealthy,' noting that the difference involves lifestyle, health and happiness considerations. Clearly, however, the old standard goal of being a millionaire is insufficient, and Williams said it has been outdated for years. Also on the show, Mickey Schleien managing director of equity research at Ladenburg Thalmann and Co. discusses how business-development companies have been impacted by rising interest rates and tighter monetary policy, Aaron Collett...