However, the characteristics that members of this group generally displayed fall in line with common financial goals for many Americans who dream of retiring one day.
They don't have consumer debtWealthy retirees in this study were the least likely to have credit card debt and auto loan debt, two common types of consumer debt.
According to EBRI's research, only one in five wealthy retirees had auto loan and credit card debt.
Compared to the average retiree, that's significantly less — in the average retiree category, about half had credit card debt, and about half had a car loan.
The resulting number is a good estimate of how much you'll need to retire comfortably.
Persons:
—, Robinhood, you'll
Organizations:
Security Research Center, Robinhood, Northwestern Mutual