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You Need to Have $4.2 Million to Be Considered Wealthy in the Bay Area: Report

New figures from Charles Schwab show in the famously expensive Bay Area you must have $4.2 million in total holdings to be considered wealthy.

The figure is nearly double the national average of $2.4 million.

While earning $115,000 annually puts you in the "well off" category across the nation, Charles Schwab notes you'll need to make more than $300,000 a year to earn that status in the Bay Area.

NBC Bay Area's Scott Budman has more in the video report above.

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