Having a million dollars doesn't make you wealthy any more

<p>Rob Williams, managing director of financial planning for <a href="https://www.aboutschwab.com">Charles Schwab</a>, discusses the firm's <a href= "https://www.aboutschwab.com/schwab-modern-wealth-survey-2023">2023 Modern Wealth Survey</a>, 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 Clearly, however, the old standard goal of being a millionaire is insufficient, and Williams said it has been outdated for years.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 <a href= "https://www.ladenburg.com">Ladenburg Thalmann and Co.</a> discusses how business-development companies have been impacted by rising interest rates and tighter monetary policy, Aaron Collett discusses the private-credit market -- which he says hasn't had a down year in more than three decades -- but also the benefits of accessing it by using cryptocurrency and, in the Market Call, Kevin Rendino of <a href="https://www.180degreecapital.com">180 Degree Capital</a> covers Graham-Dodd style value investing in small- and micro-cap stocks.</p>