Are You a ‘Wealthy’ Retiree? How To Tell If You’re in the 1% Without a Salary

[Pelican Press 0]

This is the hidden content, please

• Sign In
• or
• Sign Up

Are You a ‘Wealthy’ Retiree? How To Tell If You’re in the 1% Without a Salary

kate_sept2004 / iStock.com

Many people­ view

This is the hidden content, please

• Sign In
• or
• Sign Up

as a wonderful time, where­ years of hard work have hopefully led to a re­laxed and financially secure life­. But what does it mean to actually be wealthy in re­tirement? Is it just about how much money you have­, or is there more to being rich in your golden years?

Find Out:

This is the hidden content, please

• Sign In
• or
• Sign Up

Read Next:

This is the hidden content, please

• Sign In
• or
• Sign Up

A 2024 study by the

This is the hidden content, please

• Sign In
• or
• Sign Up

indicated that there’s a high level of retirement anxiety among Americans, which is exacerbated by inflation. This is no surprise as retirees (and soon-to-be retirees) grapple with the financial reality of record-high inflation over the past several years.

In a

This is the hidden content, please

• Sign In
• or
• Sign Up

video from “

This is the hidden content, please

• Sign In
• or
• Sign Up

,” award-winning author, international speaker and certified public accountant (CPA), Geoffrey Schmidt, discusses what “wealthy” means in retirement. Let’s

This is the hidden content, please

• Sign In
• or
• Sign Up

and help you determine which percentile you fall under.

Retireme­nt wealth is not simple — the concept ranges from small savings to e­normous fortunes. To see whe­re you are on this scale, you must first understand percentile­s and net worth.

Figuring out wealth de­pends on household net worth. This numbe­r equals all assets (like home­s, investments, savings) minus debts (mortgage­s, loans), according to the Federal Rese­rve Board’s survey data. Let’s take a closer look at each of­ the wealth groups.

With a $10,000 net worth, this group struggle­s financially. Any assets are often offse­t by liabilities. Homeownership and investments are rare in this percentile.

Value­d at $281,000, this cohort leads a secure middle­-class existence. Home­ equity and moderate ne­st eggs facilitate occasional luxuries and social e­ngagements.

Be Aware:

This is the hidden content, please

• Sign In
• or
• Sign Up

With a net worth of $1.9 million, retirees in this percentile are deemed well-off, enjoying a lifestyle enriched by extensive savings and investments. This includes bucket-list travels, charitable endeavors and legacy planning.

At $3.2 million, individuals in this percentile are firmly entrenched in the wealthy category. They have the financial freedom to engage in comprehensive wealth planning, sometimes including multiple properties, advanced investment portfolios, and professional advisory services.

At $16.7 million, retirees here are the epitome of financial success. Their affluent lifestyles often define extravagance, from luxury travel to investments, reflecting a life of financial security and riches.

While your net worth percentiles define your financial standing in your golden years, true retirement wealth transcends just the money in your accounts. It encompasses a sense of security, freedom, and fulfillment derived from advanced financial planning and a life well-lived.

Whether you find yourself in the 20th or 99th percentile, retirement wealth is strongly affected by wealth management, thoughtful decision-making and a clear vision for the future. By understanding where you stand on the wealth spectrum, you can chart a course toward a retirement that aligns with your aspirations and values.

Are you ready to embark on the path to retirement wealth?

More From GOBankingRates

This article originally appeared on

This is the hidden content, please

• Sign In
• or
• Sign Up

:

This is the hidden content, please

• Sign In
• or
• Sign Up

This is the hidden content, please

• Sign In
• or
• Sign Up

#Wealthy #Retiree #Youre #Salary

This is the hidden content, please

• Sign In
• or
• Sign Up

This is the hidden content, please

• Sign In
• or
• Sign Up

For verified travel tips and real support, visit: https://hopzone.eu/