Fox Business host: “You could be poor with $100 million if you live a certain lifestyle”

From the May 17 edition of Fox News' Fox & Friends:

Video file

STEVE DOOCY (CO-HOST): Meanwhile, we do a lot of stories about millennials, the young people in this country, Charles Schwab did a survey and they asked people all the way from young people up into the 70s, how much money it takes to be considered wealthy. And according to millennials, they think -- now everybody think, how much do you think? Well, according to millennials, the second one down there, $1.94 million to be wealthy. Charles?

CHARLES PAYNE (FOX BUSINESS HOST): I thought that number was low. They didn't talk to my son. They did not talk to my son. You know. 

AINSLEY EARHARDT (CO-HOST): What would he say? Would he say like $20 million?

PAYNE: No, he'd say more than $20 million. He sent me the other day, sent me a picture of a watch that cost $400,000. He's like, isn't it nice? I said yeah, can't wait for you to get a job. You know, listen, I just think that it depends on how you live, where you live, and those kinds of things. You could be wealthy with $1 million if you live a certain lifestyle. You could be poor with $100 million if you live a certain lifestyle. 

STUART VARNEY (FOX BUSINESS HOST):  I think a more important statistic from that survey was what do you think is the average net worth of American households? I mean, what do you think it would be? All the people in our audience. 

EARHARDT: I was surprised by this.

VARNEY: What do you think is the average net worth? You don't know, obviously. I will tell you, $692,000. That is the average net -- come on. America is a wealthy country. 


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