For a retired person in California, a $10 million net worth places them in the top 1% of the population. While exact figures fluctuate with age, location, and market conditions, your assets would put you in the highest tier of wealth.
U.S. and national perspective
- Top 1%: As of mid-2025, a net worth of about $11.6 to $13.7 million is needed to enter the top 1% nationwide.
- Top 2%: A lower threshold of $5 to $8 million for individuals over 65 is sufficient to be in the top 2% of the country.
California context
While statewide data on wealth percentiles for retirees is not publicly available, multiple sources indicate that a $10 million net worth far exceeds the typical wealth levels of even the most well-off Californians.
- Higher state wealth: In general, Californians tend to have more wealth than the average U.S. household due to higher home values.
- High net worth in major cities: A 2024 survey showed that a net worth of $4.4 million was considered "wealthy" in San Francisco, and $3.4 million in the Southern California metro areas.
- $10 million far exceeds the norm: Given these figures, a $10 million retirement portfolio is well above the threshold for being considered "wealthy" in California.
Important considerations
- Net worth vs. liquid assets: It's important to differentiate between total net worth and liquid assets. A $10 million figure might be less liquid if it includes the value of a high-priced primary residence. A $10 million net worth with significant liquid assets allows for immense financial freedom in retirement.
- Location matters: The high cost of living in California can diminish the purchasing power of a nest egg compared to less expensive states. However, for a $10 million portfolio, this is unlikely to make a meaningful difference to your overall financial freedom.
- Individual circumstances: Everyone's retirement needs are different. Your lifestyle, debt, and spending habits determine your "richness" as much as your total net worth. A $10 million portfolio could generate annual returns in the hundreds of thousands, which would support even a lavish retirement.
