Reply to Top 1% of Retirees Have 16.7M

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]99th percentile of retirees have $16.7M of wealth.

[b]95th percentile of retirees have $3.2M of wealth.

90th percentile of retirees have $1.9M of wealth.[/b]

https://finance.yahoo.com/news/super-wealthy-retirement-looks-savings-095900179.html

Does this change the way you think in terms of how much you need to save to retire?[/quote]

Thanks for posting this.  It points out how ridiculous was the recent thread asking if $10M is enough to retire.[/quote]

If you are already in the 1%, which many in dcum are, $10m is not that crazy if you want to continue with the same lifestyle. [/quote]

This 1000%.  If you are living in a 5k Sq ft home with your 2-3 kids, spending $400K/year now on life and the kids, you are most likely planning to maintain a similar standard of living in retirement, most likely with 1 condo/TH and a second home as well.  To do that you need more $$.  Sure you could retire on much less, but most people want to continue a similar standard of living
[/quote]

So if you are no longer paying for your kids day-to-day and no longer saving or paying for college and your house is paid off…seems like $200k per year keeps you in the same lifestyle.[/quote]

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