How Many Retirees In The USA Have $2 Million (not what you think)

Comments · 469

• RE

  @RetirewithJulia · 1 month ago · pinned

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• TR

  @TriadTool · 6 months ago

  Seems like a scare video. Ppl, when you have over $2M, like i do, you may end up with higher taxes and some healthcare penalties, but it is still only a FRACTION of that added income. You will have more to spend or just plow the extra into the brokerage. You GAIN, just not as much as if you had moved it to a ROTH. Ppl act like paying tax is a rip off. You can't have a decent society without taxes. Go to Norway and then Ethiopia (I have spent months to years in both), and then you can see the difference.

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• YE

  @Yette · 6 months ago

  I'm fortunate, I retired 5 years ago with $2M plus a pension. I never used an advisor, I read Jack Bogle's books which recommend simplicity. I don't feel wealthy.

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• HU

  @hufftex3015 · 6 months ago

  So my $2 million grows unchecked into $3 million +, I may move into a higher tax bracket, but in the example you showed, the taxes went up $7k per year, and IRMA may add another couple of thousand dollars in penalties...but if the spending hasn't greatly increased, it sounds like the additional tax is more of a pain in the ass, as most of us have grown to be so tax averse over the years, but it's not like you are going to run out of money. There are additional strategies, like giving some money away annually to your kids, or schools, etc. It doesn't sound like a smart person is going to LOSE their money, unless they make some crazy bad decisions.

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• JE

  @jeffdittrich6778 · 6 months ago

  Congratulations. It only took you one minute to answer the question. Many other videos take forever. Thank you for getting right to the point.

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• LV

  @lv4077 · 6 months ago

  I started with nothing and have most of it left

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• MA

  @MasterpieceMountain · 6 months ago

  I assume these people would pay 1% for Assets under management (correct?) ?    that is 21K per year.    for  those 7 years that is 147,000$ paid to the financial planner.      using a financial planner better save more than 21k per year.  I would actually like to see one of these on-line CFPs  incorporate their fees into the equation.   They always leave out their fees.

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• DE

  @deehollywood6013 · 7 months ago

  Good advice I'm sure. But financial advisors are the only people who can make someone stress out about having too much in retirement.

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• PU

  @Puli-b2t · 6 months ago

  I'm 57 and have $4.2 million in various accounts.  I don't care what ranking I fall under.  I grew up poor, so It just never feels I have enough.

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• TN

  @tnekkc · 6 months ago

  Where I live in greater seattle there are no homes for less than $2M. Where my brother lives in a small town in MT, &nbsp;houses are $200k.<br>Both of my brothers retired by selling thier Seattle homes and moving to a rural area.

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• DE

  @Deva-no3dn · 6 months ago

  So it sounds like they’re doing the usual scare tactic by bringing in the wife who is now a widow. If you use companies like the ones she’s pushing, you’ll be spending all that extra money they show you how to “save” (and maybe more) on ‘professionals’. Face it - death and taxes are a certainty. Make, save, invest and accumulate every penny you can and keep it simple by paying the tax because if you get risky you’re likely to lose money. DH and I have accumulated a lot and still run a profitable company. We have always done our own investing and we don’t nickel and dime anything with the government. It’s not worth saving thousands if your net worth is in the millions. Use a good accounting firm and focus on the important stuff.

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• RI

  @richarddykema6540 · 7 months ago (edited)

  If 1.8% of households CURRENTLY have $2 million or more, that does NOT mean that fewer than 2 out of 100 households EVER reach this number. &nbsp;Many of the households in the 98.2% who have less than $2 million just are too young to have reached that level YET; it doesn’t mean they will never get there.

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