Are you in the top 1%?

Good afternoon. Boomers are sitting on the biggest pile of wealth any generation has ever had, and yet plenty of them have no idea which side of "secure" they're actually on. Guessing doesn't cut it. Today we're testing three of the biggest assumptions retirees make against the real math.

On The Money Today:

Let's get into it.

Boomers are sitting on more collective wealth than any generation before them, but the median household is nowhere close to that fortune. The real gap between "getting by" and "top 1%" isn't a feeling, it's a number, and it's a lot bigger than most people expect. Keep reading for the 3 questions that help determine which end of that gap you're on.

Boomers are sitting on more collective wealth than any generation in history, but where you personally land depends on three blunt questions about your assets, your debt, and your health, not your age or your zip code. Most people assume they already know the answer, and most are wrong in one direction or the other.

Why it matters: The median net worth for a boomer household is just $409,900, nowhere close to the threshold this piece uses to separate "ahead of the pack" from "still catching up." But the article also walks through concrete moves, from tackling debt to protecting against six-figure medical costs, that can push your household further up the list.

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Retirement has a way of turning people into ruthless declutterers, and a few assets are the easiest to regret unloading once they're gone. Some carry tax advantages, guaranteed income, or contract terms you can't simply buy back later, and the mistake often doesn't show up until years down the line, when it's too late to undo. A handful of these could be sitting in your own portfolio right now without you realizing what they're actually worth holding onto.

Why it matters: One wrong move on this list can permanently lock in losses that are tough to undo, and by the time you notice, the damage is already done.

Most Americans put the real retirement number at around $1.46 million, and $750,000 lands you roughly halfway there. Paired with an average Social Security check, that nest egg lands closer to what a typical household actually spends each year than the halfway point suggests. Location and debt load decide the rest, along with a handful of details most people don't calculate until they're already retired.

Why it matters: The standard 4% withdrawal rule turns $750K into just $30,000 a year on its own. Social Security is carrying nearly as much of the load as the nest egg itself.

The correct answer is B) 1990s - The 1990s bull market, fueled by the tech boom and a decade-long stock rally, minted more new millionaires than any prior decade in US history, according to Federal Reserve wealth surveys. It set the template for how a single sustained market run can reshape an entire generation's retirement picture, boomers included.