This week we’re here with the final part of our Retirement Facts series. We covered the largest reported wealth segment in Part 3, and this week we’re covering the smallest reported wealth segment – “mega-millionaire.” The Institute defines high-net-worth as assets of $3.5 million or more. Of the total 125,981,701 households the Institute surveyed in 2017, 2% of them fell into this “mega-millionaire: $3.5m or more” wealth segment. That’s 1,991,343 million households total – as compared to the 85,392,092 million households in the low-net-worth: under $100k segment. As a reminder, non-financial assets include vehicles, other residential property excluding primary residence, equity in non-residential property, business equity, and other assets. Net worth is the sum of assets (what is owned) minus liabilities (what is owed). Of the 1,991,343 households counted in this section, 430,332 households were partially retired and 642,852 million were fully retired. Partially retired households had an average of: $8,884,235 in financial assets $6,123,186 in non-financial assets $910,863 in debt net worth The average debt for partially retired households was almost 4 times more than the average financial assets. Fully retired households had an average of: $9,814,950 in financial assets $3,566,346 in non-financial assets $467,750 in debt net worth The average debt for fully retired households was around 2.5 times more than the average financial assets. Age Demographics: Aged 35 or Younger Average financial assets at $9,604,425 Least in average non-financial assets at $4,454,114 Most in average debt at $2,213,573 Least in average net worth at $13,956,359 Aged 36 to 49 Most in average financial assets at $12,524,944 Most in average non-financial assets at $10,998,230 Second highest average debt at $1,967,355 Highest average net-worth at $21,931,783 Aged 50 to 59 Least in average financial assets at $9,128,513 Second highest average non-financial assets at $8,710,548 Third in average debt at $781,246 Second highest average net-worth at $17,259,640 Aged 60 to 69 Average financial assets at $10,103,825 Average non-financial assets at $6,426,353 Lowest average debt at $537,053 Average net-worth at $16,207,819 Aged 70 or Older Average financial assets of $10,219,365 Average non-financial assets of $6,720,932 Average debt of $745,755 Average net-worth of $16,632,874 Debt Overall, 65% of partially retired households (279,179) and 42% of fully retired households (272,479) had some type of debt. The average amount of debt for partially retired households landed at approximately $910,863 – nearly twice as much as average for fully retired households, $467,750. The four main types of debt are mortgage, credit card, student loan, and vehicle loan debt. Mortgage Debt 45% (193,974) of partially retired households had mortgage debt, with an average debt amount of $358,113. 33% (204,128) of fully retired households had mortgage debt, with an average debt amount of $334,164. Credit Card Debt 3% (13,191) of partially retired households had credit card debt, with an average debt amount of $136,013. 7% (43,569) of fully retired households had credit card debt, with an average debt amount of $4,263. Student Loan Debt No partially retired households had student loan debt. 1% (8,976) of fully retired households had student loan debt, with an average debt amount of $8,755. Vehicle Loan Debt 17% (73,585) of partially retired households had vehicle debt, with an average debt amount of $29,770. 5% (31,084) of fully retired households had vehicle debt, with an average debt amount of $43,770. You can go back and compare this smallest but richest wealth segment to the largest but poorest wealth segment covered in Part 3 of our Retirement Series.