American Retirees Aren't As Rich As You Think — You're Probably Less Behind Than You Feel

American Retirees Aren't As Rich As You Think — You're Probably Less Behind Than You Feel A little support goes a long way! If you’d like to help me keep creating, you can do so at https://ko-fi.com/liamfinance American retirees are probably not as rich as you think. For households ages 65 to 74, Federal Reserve data used in this video shows: Median net worth: about $409,900 Average net worth: about $1.79 million That massive gap is why comparing yourself to the average can make you feel far more behind than you really are. And even the $409,900 median does not mean retirees have that amount sitting in a 401(k). A large portion of household wealth is tied up in home equity. Among households that actually own retirement accounts, the median account value discussed in this video is only about $82,000, while roughly 4 in 10 older adults report having no tax-preferred retirement account at all. We also explain why someone with $300,000 and a pension can potentially have a stronger retirement than someone with $1 million of net worth mostly tied up in a house. Your ranking tells you how you compare with other Americans. Your spending, Social Security, pension, housing costs, and withdrawal rate tell you whether your own retirement actually works. You may be much less behind than you feel. #Retirement #RetirementSavings #NetWorth #401k #RetirementPlanning Disclaimer: This video is for general educational and informational purposes only and does not constitute financial, investment, tax, Social Security, pension, or retirement advice. Wealth figures are broad household benchmarks and individual circumstances vary.