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Blog Your guide to financial planning and retirement
May 16, 2024 • 6 minutes
Average retirement savings is a popular topic. But, new analysis using the Survey of Consumer Finances (SCF) data reports on what it takes to be in the top 1%, 5%, 10%, and 50% of wealthiest retirees. Scroll down to see how you compare.
Before taking a look at what it takes to be among the wealthiest of retirees, let’s first understand how to define wealth.
There are different measures of wealth with the most popular being: income, savings, and net worth. Of those three, net worth is considered to be the most accurate or all encompassing measure. It is defined as the total value of all assets minus the total value of all liabilities.
Other factors that are important to consider are age or how “retirement” is being defined and whether you are measuring household or an individual’s wealth.
How is “retirement wealth” defined?: When talking about wealth in this article, we are referring to: Net worth by household (not individual) for people who are over 65 years of age (regardless of whether they are working or not).
To be among the wealthiest retirees, it takes millions. However, it might be less than you think.
Retirement wealth drops significantly from there.
You might think that the wealthiest retirees are trust fund heirs or high powered senior executives. However, the reality is that most wealthy retirees are regular people who had regular jobs. They just saved diligently and invested wisely over a long period of time.
A large research study found that:
Here are five key take aways:
The average net worth of a Boldin subscriber is just over $3 million.
It should be no surprise that the top 5% are using the most powerful retirement planning tool available online. It isn’t just saving and investing that grows net worth. Building and maintaining a financial plan that enables you to make better financial decisions with regards to all aspects of your fiscal health is also an important factor.
It actually doesn’t matter if you are a millionaire now. It doesn’t even matter if you are on track to becoming one or not. Everyone can have a secure retirement, it just takes having a plan.
You can use the Boldin Retirement Planner to create or update your plan for the secure future you want. Whether that means living on Social Security alone, working past the age of 65, or retiring in your 40s.
We’ll help you develop a plan for the secure retirement you want.
Many assume that retirement wealth equals income, but they differ. Wealth measures total assets minus debt. Meanwhile, retirement income shows how much money you have available each year. Both matter when assessing if you’re among the wealthiest retirees. To explore average incomes further, see our analysis on Average Retirement Income 2025 for detailed benchmarks.
Top retirees often follow disciplined spending strategies. They track housing, healthcare, inflation, and unexpected costs carefully. Using a detailed planner helps maintain wealth while supporting a high-quality retirement. Our retirement forums section includes real stories from retirees who manage expenses strategically.
High-net-worth retirees often use advanced tools to manage cash flow, taxes, and portfolios. Our comparison of financial planners—like Boldin vs. Right Capital—shows why Boldin is popular among wealthy individuals with self-directed plans. See the detailed breakdown in RightCapital Alternatives.
Being among the wealthiest retirees goes beyond high net worth. True financial wellness includes reliable income, manageable expenses, and flexibility. Boldin’s enhanced net worth tracking feature lets you see month-by-month trends and compare against your retirement targets.
A: As of 2025, retirees in the top 5% typically have a net worth of $3 million or more. However, wealth is relative and depends on lifestyle, location, and retirement goals. A solid retirement planning spreadsheet can help you compare your financial position against national benchmarks.
A: Both retirement income and net worth matter. Income ensures daily expenses are covered, while net worth provides long-term security. The wealthiest retirees often have a reliable income stream plus diversified assets. Tools like the Boldin Planner help track both.
A: Top retirees actively track spending, plan for healthcare costs, and stress-test for risks. They often use retirement planning tools to budget monthly needs, adjust for inflation, and protect assets from market volatility.
A: Yes. A detailed retirement planning spreadsheet helps you monitor cash flow, evaluate investment performance, and identify gaps. It’s one of the simplest ways to build financial awareness and support long-term growth.
A: Many use advanced planning software or detailed spreadsheets. Platforms like Boldin give individuals access to pro-level tools that track net worth, model income, and forecast expenses without needing an advisor.
Take financial wellness into your own hands and do it yourself retirement planning: easy, comprehensive, reliable.
How are the spending habits of the wealthy different from yours? Get insights into wealth accumulation and financial success.
Are you wealthy? Are you defining wealth correctly? See how people think about wealth and compare your financial well being to others’.
Put simply, net worth is everything you own minus everything that you owe. Because net worth calculates both your assets and your liabilities, it is a better snapshot of your financial health than your savings balance or monthly paycheck. So, what is the average net worth and is your financial value more or less than […]
