Financial Survey Results Show Much Higher Retirement Confidence and Savings

Thanks for publishing these interesting results. I'm surprised at how many of participants are millionaires (not me!), particularly when that dollar amount excludes home equity. Given that number, it's also surprising that SS rated as an almost equally important source of retirement income with IRA/401K income.

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I guess I'm not surprised that so many have $1M in retirement assets. (Like JCarol, that doesn't include me.) From reading responses here, most seem to be better off than average (somewhere in the average range is where I would put myself.) I've always felt that TopRetirements has a higher end audience -- helpful for all of us but some are perhaps "seeking" or "comfortable" rather than "well off". I like to think that TopRetirements has contributed to helping us all in our efforts to establish at least that comfort level.

I am not surprised at all that readers of this forum would have a much higher than average savings rate. The very fact that you are reading this site means you are trying which most people do not.
Many folks who do not high savings are to busy on social media or keeping up with the Kardashian trash reality TV to invest time in accumulating savings, eliminating debt and acquiring wealth. I am 48 and my wife 45 and we were blessed to grow up poor and thus were not overindulged by parents who lavished undue praise and money at us. We are self-made and are proud that we have accumulated our $2.5 million in 401K savings with out any help, inheritance, free college, etc. It is very easy to do. Get a job, keep a job, get married, stay married, max out your 401k's and IRA's every year from age 23 on and the money will explode exponentially over time. We drive cars for 15 years, paid off our college loans in 2004 and house in 9 years so have been debt free since 2012. We have a fully funded (12 months of expenses) emergency fund. My wife is a 1st generation legal immigrant and her family values are what the US traditional values are so I did not have to train a spouse not to waste money. We enjoy money by traveling to 47 countries so far but that is our only luxury.

I have a little different view of your survey results. Although it's impressive that so many of your respondents have done so well I think the results are skewed because the well off were more likely to reply. Although my husband and I are in the mid range of the survey I didn't reply and I doubt that anyone in bad shape would have wanted to. No bragging rights for just getting by and I know plenty of people in that situation which doesn't mean they didn't work hard all their lives. Not all jobs have 401K or pension income. Not all people have extra money to sock away. It takes all they earn to live.

I was rather surprised by results shown here, but maybe I shouldn't have been. If I read the results for retirement assets they are not to include your home value or your pension(s) you receive monthly thus the money value is only what you have in savings or invested. I again was surprised the middle was only 13% & that is where I put myself. That said I am debt free, only have monthly living expenses, travel & go where & pretty much when I want. I feel I am comfortable, outside of my husband passing last year I am enjoying retirement & life in general & God willing will stay in good health & continue.

I agree that building wealth falls on us. No one is going to help with that. For most folks, life takes over and you do the best you can with what you have. "Training" your spouse is not going to work. Just causes discord. I know that one first-hand. Lol.
Either they get it or they don't.
I am fortunate that I found my second wife who has the same values and goal as I. I will not reach 1 million but I feel we will be comfortable when the time comes (5 yrs.). Best wishes to all!!!

I am a member of the ever increasing number of women who was divorced and replaced by a younger model right before retirement and did not get 1/2 the assets which were well hidden. Of course I spent a decade at home raising a family like so many of my generation. I went from very upper middle class to ....near poverty.I would advise young women to have a pre-nup, not to stay home with children unless you are given a certain sum to put into your own account each year, and to keep as close an eye on the finances as possible. In my case, my husband had a business that he could hide money in and also bought properties all over the world, which were untraceable at the time.