You're scrolling through social media and another friend is showing off their latest Mediterranean cruise. It's hard not to wonder – are they living the dream or ignoring the whole "retirement savings" thing?

If they're part of the upper class, there's a good chance they have the money to fund both their vacations and their future. But how much have they saved for retirement? And where do you stand?

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What's Considered "Upper Class?"

Before examining the numbers, it's important to understand what "upper class" actually means.

According to Pew Research, the median income for a three-person upper-class household was $256,920 in 2022. However, income is only part of the equation. Wealth – defined as net worth – is a major factor, especially regarding retirement savings.

A New York Times analysis suggests that the top 20% of families have a wealth-to-income ratio of about 3 to 1. A household earning $256,920 has a net worth of around $770,760.

Now, let's compare that to data from the Federal Reserve. According to their latest Survey of Consumer Finances:

• The top 10% of households have a median net worth of $2.7 million.

• The next bracket (11th – 25th percentile) holds a median net worth of just over $790,000.

So, whether you're using income or wealth as your metric, the upper class is miles ahead of the national average.

Trending: Many are using this retirement income calculator to check if they’re on pace — here’s a breakdown on how on what’s behind this formula.

The Average Retirement Savings for the Upper Class

When it comes to retirement savings, the upper class doesn't disappoint. According to data from The Motley Fool:

• The top 10% of earners have a median retirement savings balance of $900,000.

• Those in the next tier (75th – 89.9th percentile) have a median balance of $269,000.

Since the upper class typically includes the top 20%, a reasonable estimate for their median retirement savings is between $400,000 and $500,000. While exact numbers aren't available for the full group, their savings are far above the national medians:

• Median retirement savings for all U.S. households: $87,000.

• Households under 35: Just $18,800.

If your retirement savings are in the six-figure range, you're closer to the upper-class average than most people. If not, there's still time to step up your game.