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A $2 million nest egg probably doesn’t sound impressive anymore.
After all, the rise of centi-billionaires and potential trillionaires (1) has dominated the headlines this year. By comparison, a million or two may seem like a rounding error.
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But when you look at the broader picture of American retirement wealth, millionaires are in a surprising place. Here are the top five wealth levels for American retirees in 2026.
Level 1. Nothing saved
This is a surprisingly large group. According to a Congressional Research Service analysis (2) of the Federal Reserve’s 2022 Survey of Consumer Finances, about 46% of American households had no retirement savings account.
To be fair, many of these families may have other ways to fund their retirement, including home equity, Social Security, or corporate pensions. But for many people, the lack of a 401(k) plan or IRA simply signals financial distress. And some of these families may be struggling to pay off debt before they can even think about saving for retirement.
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Level 2. Typical Saver
More than half of U.S. households have at least some retirement savings, but not a lot.
According to the CRS review of the Fed’s 2022 SCF, about 30% of Americans had less than or equal to $100,000 in retirement accounts. This is also reflected in the preview of Vanguard’s How America Saves 2026 report (3), which shows that the average retirement account balance in 2025 was only $44,115.
Simply put, if you have $50,000 or more saved in retirement accounts you’re doing better than half the country — and by a good margin.
Level 3. Six Number Club
This is where retirement saving starts to look a little more serious. According to the CRS report, about 15.5% of American households had retirement assets between $100,001 and $500,000, while another 4.7% had between $500,001 and $1 million.
In other words, only one in five households was in the six-figure club.
A modest retirement on a limited budget is certainly realistic at this stage. For example, someone with only $600,000 in savings could withdraw $24,000 per year based on the standard 4% rule (4), with Social Security covering the rest of their annual budget.
Some creative money moves, like downsizing or moving to a lower-cost state, can make this modest retirement more comfortable and realistic. If you’re in this group, plan ahead and remember that there is very little margin for error.
Level 4. Millionaire
In today’s economy, being a millionaire is considered by most people to be “retirement ready.”
According to Northwestern Mutual (5), the average American believes they need at least $1.46 million in savings for a comfortable retirement. Yet, according to the CRS report, only 4.6% of American households had retirement assets exceeding $1 million. This means that less than one in 20 Americans are prepared for a comfortable retirement.
If you’re in this group and are still a few years away from retirement, you have a chance to enter the exclusive multi-millionaire club.
Level 5. Millionaire
This is the highest level, composed of “super-savers” or “super-investors”. If you’ve saved $2 million or more, you’re part of this exclusive group.
At this stage, you are less concerned about wealth creation and budgeting and more about taxes and capital preservation. Your mission is to protect what you have as it continues to grow on auto-pilot.
This is where a professional financial advisor can be so valuable. For investors with portfolios of $250,000 or more, financial decisions often become more complex.
Managing withdrawals, reducing tax risk and ensuring long-term stability often requires greater coordination and strategic planning.
In these cases, working with a financial advisor can help minimize costly mistakes.
Prefer the platform if you have a portfolio of $250,000 or more wise advisor Can connect you with vetted professionals who are experts in this type of planning.
Simply answer a few questions about your savings, retirement timeline and overall investment portfolio.
From there, WiserAdvisor reviews its network to match you – for free – with three verified, reputable advisors tailored to your specific needs.
then you can Schedule a no-obligation consultation Determine with your matches who is the best fit for your long-term goals.
WiserAdvisor is a matching service and does not provide direct financial advice. All matching advisors are third parties and are not guaranteed to produce specific financial results.
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Luck (1); Congress (2); workplace vanguard (3); investor vanguard (4); News NorthwesternMutual (5)
This article provides information only and should not be construed as advice. It is provided without warranty of any kind.