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Retiring comfortably is one thing. Retiring in the top 10% of the financial spectrum is another goal, and it’s more attainable than many people think.
With the right mix of planning, strategy and consistency, you can build long-term wealth that places you well ahead of the curve. Whether you’re decades away from retirement or playing catch-up, it’s never too late to shift your financial trajectory.
Here’s how to make sure you are in the financial top 10% when you retire.
Know the Net Worth Benchmarks for the Top 10%
For anyone aiming to retire in the top 10% financially, it’s essential to understand what that actually entails. Knowing how much wealth top earners typically have can provide a clear target to work toward.
Some estimates suggest that retirees need between $970,900 least $1.9 million to join the top 10% financially by retirement. However, other experts said that the number should be even higher.
“You must have a net worth of about $2.63 million, including real estate, investments and retirement accounts, said Seann Malloy, founder and managing partner at Malloy Law Offices, LLC.
Start Early or Start Smart
Building long-term wealth is easier when you start young, thanks to the power of compound interest. But even late starters can make up ground with focused, strategic financial moves.
“Getting a head start is a big advantage,” said Sean McSweeney, chief advisory officer at Voyant Health. “If someone starts saving and investing regularly in their 20s or early 30s, they might end up near to or in the top tier by retirement merely by maxing out their retirement accounts with a small growth rate.”
Many people don’t begin saving seriously until their 40s or 50s. While it’s not too late, they’ll need a different strategy to catch up.
“That could entail saving a lot more money, cutting back on spending that isn’t essential, using catch-up contributions, or even moving to a smaller home or cutting back on other fixed costs to put more money into investments,” McSweeney said. “It’s not about being perfect; it’s about being bold and purposeful with the time you have left.”
Max Out Tax-Advantaged Accounts
One of the most effective ways to build retirement wealth is by taking full advantage of tax-advantaged accounts. These tools can help high earners grow their savings faster while reducing their taxable income.
“Retirees in the top 10% consistently max out retirement accounts, like $23,500 annually in 401(k) [plan]s ($30,500 with catch-up contributions for those over 50 in 2025),” Malloy said.
Diversify Your Investments Beyond a 401(k) Plan
Relying solely on a 401(k) may not be enough to reach top-tier wealth in retirement.
To build real, long-term wealth, many top earners go beyond retirement accounts and diversify their savings into index funds, real estate and business ownership.
“For example, one client in her 40s put $100,000 into a rental property and now earns $15,000 a year in passive income,” Malloy said. “They use trusts to reduce their taxes, which I have done for clients to the tune of $10,000 a year.”
Avoid Common Pitfalls
Even high earners can fall short of the top 10% wealth if they make a few key missteps. From delaying serious saving to overspending or going it alone without a plan, these habits can quietly sabotage long-term financial success.
“Without a doubt, the biggest error I see is people putting off getting serious for too long,” McSweeney said. “They either retain too much cash on hand, put off investing until ‘the right time,’ or spend more every time they get a raise.”
He added, “Another common problem is trying to do it all by yourself without a proper plan or help from a professional. People that get to the top 10% are frequently those who got focused early on and weren’t hesitant to seek help when they needed it.”
Regularly Reassess Your Financial Plan
Achieving top-tier wealth isn’t just about setting a plan; it’s about regularly revisiting it.
The most successful retirees stay focused on the long game and make consistent adjustments as their life and financial goals evolve.
“One thing that all of them have in common is that they keep their eyes on the long game and look over their plans often instead of letting them sit for ten years,” McSweeney said.