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from
https://finance.yahoo.com/news/rich-retiree-heres-net-worth-193214164.html

the key
To crack the top 10% of retirees,
your net worth needs to hit around $1.9 million, according to Federal
Reserve Board survey data.
For those aged 65-74, that figure jumps to about $2.63 million;
for retirees 75 and older, it climbs even higher to $2.86 million.

Are You A 'Rich' Retiree? Here's The Net Worth And Income You Need To Be
In The Top 10%

Ivy Grace
Updated Wed, October 2, 2024 at 1:13 AM PDT 4 min read

482
Retirement looks different for everyone, but what does it take to be in
the top 10% of wealthy retirees?

It's not about flashy yachts or endless vacations. The top tier is
defined by solid financial planning, diverse income streams and a clear
understanding of stretching wealth beyond Social Security checks.

If you're curious about where you stand, here's how to tell if you're
among the top retirees of 2024.

Can you guess how many retire with a $5,000,000 nest egg? – How does it
compare to the average?

The Top 10% Net Worth: What's the Magic Number?

To crack the top 10% of retirees, your net worth needs to hit around
$1.9 million, according to Federal Reserve Board survey data. For those
aged 65-74, that figure jumps to about $2.63 million; for retirees 75
and older, it climbs even higher to $2.86 million. This sharply
contrasts the average retiree, whose net worth is much lower – closer to
$280,000 on average. If you've crossed that $2 million line, you're
likely looking at a very different retirement experience from the average.

Top Retiree Earnings – Without a Salary

Here's where things get interesting. Wealthy retirees aren't just
sitting on a pile of money. They've built multiple streams of income
that continue to flow well into retirement.

While Social Security might pay a max of $58,476 annually (if you're
lucky), top retirees are pulling in much more – without even breaking a
sweat. Their income comes from investments, rental properties, pensions
and sometimes businesses they've built or invested in.

See Also: The average American couple has saved this much money for
retirement — How do you compare?

The average retiree earns around $75,000 annually, but the top 10% bring
in significantly more. For those aged 65 to 69, the top 10% have an
annual income of $200,000.

They earn income from a combination of dividends, rental properties and
strategic portfolios, which allows them to live comfortably without
draining their principal savings.

See Also: IRS Finalizes 10-Year Rule For Retirement Withdrawals, Making
Things ‘Even More Insanely Complicated’

Portfolio Strategy: What Do Top Retirees Do Differently?

Wealthy retirees approach investing with a long-term mindset. It's not
about playing it safe; it's about balance. A typical portfolio for
someone in the top 10% might hold around 60% stocks, 35% bonds and just
5% cash or cash-like investments. They're still looking for growth even
in retirement, rather than shifting entirely to conservative investments.

This keeps their wealth growing while also providing income. They may
dial down the risk as they age, but you won't see these retirees parking
all their money in low-yield savings accounts.

Trending: This Jeff Bezos-backed startup will allow you to become a
landlord in just 10 minutes, and you only need $100.

How Location Plays Into Wealth Perception

One factor that often goes overlooked in retirement is where you live.
Retirees in certain cities will see their income stretch further. While
retirees in high-income areas may bring in around $90,000 a year,
someone in a lower-cost city might live just as well with less. For top
10% retirees, maintaining a high quality of life often comes from
flexibility in where they choose to retire.

Retiring in the top 10% isn't just about luck – it results from smart
planning, diverse income sources and a solid investment strategy.
Understanding what it takes can help you aim higher if you’re not there
yet. It's always a good idea to consult a financial advisor to ensure
you’re on the right track.

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Are You A 'Rich' Retiree? Here's The Net Worth And Income ---	a425couple

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