10 Feb 2024 10:26 am
You would think that those retiring will be living the life of Riley but the numbers just don't support that lifestyle. I've seen numbers ranging from 35%-50% that retire with no savings. Looks like the number is $2.4 million to be considered rich these days. Even $1 million in net worth is out of reach for 95%.
The survey found that about 37% of retirees say they have no retirement savings, up from 30% in 2022, and only about 12% have at least the recommended $555,000 in savings. The high percentages of retirees with little to nothing saved may have to do with factors beyond their control.May 11, 2023
Top 2% wealth: The top 2% of Americans have a net worth of about $2.472 million, aligning closely with the surveyed perception of wealth. Top 5% wealth: The next tier, the top 5%, has a net worth of around $1.03 million. Top 10% wealth: The top 10% of the population has a net worth of approximately $854,900.Jan 9, 2024
It still amazes me how few people really do well financially.
The survey found that about 37% of retirees say they have no retirement savings, up from 30% in 2022, and only about 12% have at least the recommended $555,000 in savings. The high percentages of retirees with little to nothing saved may have to do with factors beyond their control.May 11, 2023
Top 2% wealth: The top 2% of Americans have a net worth of about $2.472 million, aligning closely with the surveyed perception of wealth. Top 5% wealth: The next tier, the top 5%, has a net worth of around $1.03 million. Top 10% wealth: The top 10% of the population has a net worth of approximately $854,900.Jan 9, 2024
It still amazes me how few people really do well financially.