How many US retirees actually have $1M or more in investments (when their homes are excluded)?

Core Insights - The perception of wealth in America is skewed by the prevalence of millionaires, with over 24 million households having a net worth exceeding $1 million, representing more than 18% of all households [1][2] - True financial security is determined by liquidity, or the ease of accessing funds when needed, rather than just the total net worth on paper [2] Group 1: Illiquid Wealth - Liquidity is a crucial aspect of wealth; having $1 million in illiquid assets does not equate to real financial security [3] - A significant portion of U.S. household wealth is tied up in illiquid assets, particularly family homes, which complicates financial flexibility [4] Group 2: Household Net Worth - The median household net worth, excluding home equity, was only $57,900 as of 2021, which is far below the seven-figure threshold and insufficient for a comfortable retirement [5] - While accessing home equity is possible, practical limitations exist, such as the need for housing after selling the family home [6]