You're A Top 1% Retiree If You Have Over This Amount In Retirement Savings By Age 50

Saving for retirement can be challenging. In addition to determining just how much income you might need, you must also determine what your savings rate should be to reach your goals. With that in mind, you might wonder how your current savings stack up to others — especially those in the top wealth percentages. According to data from the 2022 Federal Reserve Survey of Consumer Finances analyzed by DQYDJ, you would be considered in the top 1% of retirement savers if you have $2.31 million in retirement savings set aside by your early 50s. This includes things like pensions and retirement accounts such as IRAs and 401(k)s.

However, you'd need $5.39 million saved by age 50 to 54 to be in the top 1% using a more expansive definition of retirement savings, per DQYDJ, that also factors in assets like mutual funds, bonds, and money market accounts. Although these milestones might seem ambitious, they can help guide the steps you take in building a comfortable retirement.

Having a goal to save millions of dollars is one thing, but achieving it is another. Many workers are contending with a high cost of living that forces them to juggle expenses like housing costs, credit cards, or student loans and push saving for retirement to the back burner. This might explain why so many middle-aged and older adults are so far behind the top 1%: According to the Federal Reserve's Survey of Consumer Finances, the average retirement savings were $313,220 for adults ages 45 to 54 and $537,560 for those ages 55 to 64. 

Maximizing the rate at which you save can boost your chances of being in the top 1% of retirees. For instance, a study by economists from the University of California Berkeley and the London School of Economics found that the top 10% save 12% of their income per year, but the top 1% save 38% (via Financial Samurai). If you're unable to save that much given your current financial situation, Fidelity Investments recommends saving a minimum of 15% annually. For the long term, Fidelity also recommends that your savings equal six times your pre-retirement income by age 50 and 10 times by age 67.

Those in the top 1% earned a minimum income of $659,060 in 2025, according to DQYDJ's analysis of data from the U.S. Census Bureau's Annual Social and Economic Supplement. Meanwhile, the top 10% of income earners earned a minimum of $251,036 per year. This difference shows just how much more disposable income high earners have to set aside toward retirement compared to much of the working population.