One out of six retired Americans is a millionaire right now, according to from the Fed Reserve Board and the Bureau of Labor Statistics. Could you retire as a millionaire?
However, the median wealth of retirees is only about $200,000. Clearly a few people with $1 million actually have a lot more, while most Americans have significantly less.
Meanwhile, people are living longer and health care costs are rising. Fidelity Investments calculates that a couple needs $280,000 just for health costs in retirement, on average.
No matter where you on the saving spectrum, you can do better. The following seven things can help more Americans retire as a millionaire.