How Common is having Over $5 Million Saved for Retirement?

[bjl584]

How Many Americans Have Banked a Cool $5 Million for Retirement?



You're in a pretty exclusive club if you've managed to save +$5 million
Only 1 tenth of 1 percent of people have managed to do so.

[disneysteve]

I agree that $5 million puts you in a tiny minority, but I think this article overstates that. As with many articles about retirement savings, they only seem to look at "retirement" accounts like 401k or IRA. They ignore money held in "non-retirement" accounts like a taxable brokerage.

We aren't at the $5 million mark but we've got about $2.3 million saved outside of retirement accounts so for the purposes of this survey, none of that money would be counted.

They also don't count equity in rental properties. I know people who own multiple rentals and part of their retirement plan is to sell the properties and use the proceeds to help fund their retirement.

I'd say the population with $5 million in investable assets is probably closer to 1.0% than it is to 0.1%. Still a tiny slice of the population but not quite as tiny as this article suggests.

[Drake3287]

Does the value of your pension count? If so I'm in the club! Without it I've got a ways to go. Always knowing that I'd have a pension to retire on, it would be interesting to know how much I could have saved over the years if I had needed to. I think buying rental property would almost be required.