These are the six levels of wealth for Americans of retirement age-are you near the top or bottom of the pyramid?

If you are planning your retirement, you may have a savory goal to retire in mind. The Americans believe that the “magic number” who need to retire comfortably is $ 1.26 million, according to a survey of Northweestern Mutual.

It should give you a comparison of your number with the actual net value of the elderly retirement age.

since Average age expects Americans to retire is 66 Medicare is available to those who are 65 years old and over, we looked at the net value of families led by the elderly aged between 65 and 69 years. The clear value is the total value of everything that is due (obligations).

Below are the six levels of wealth for these senior families, based on the Federal Reserve Survey of consumer financing from 2022.

1.

The elderly under the age of $ 69,500 falls in a net value to the bottom of 25 % of the retirees. This group is particularly vulnerable to financial shocks and relies heavily on public safety network programs such as social security and medical care.

If you are approaching retirement with less than this number, it may be good to search for additional income, more ways to save money or even a possible delay to retire until you are less at risk in your upper years.

2. The lower middle layer (its pure home value ranges between 69,500 dollars and $ 394,300)

The average net value of these families is 394,000 dollars, according to the federal reserve. This means that if your wealth is under this standard, about half of all the major families in this age group are richer than.

This group, which can be described in the best way as the low medium layer, is not necessarily financially vulnerable. However, this is far from comfortable retirement. The elderly in this wealth category may have to stick to a limited budget.

3. The middle layer (its pure and home value is between 394,300 dollars and 1.16 million dollars)

The elderly people with a clear value that place them between the fifty -seventy centenary can be described as the middle class.

This means that you have more comfortable retirement. However, if a lot of your pure wealth is besieged with non -liquid origin, such as your home or business, you may need to find ways to create liquidity in your upper years.