Here are the 6 levels of wealth for retirement-age Americans — are you at the top or bottom of the pyramida

If you're planning your own retirement, you probably have a savings goal in mind — and many Americans believe the "magic number" they need to be comfortable is $1.46 million in 2026, according to a Northwestern Mutual survey (1).

But retirement is a spectrum, not a goal post and what constitutes as a comfortable retirement for each person depends on a wide variety of factors.

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Comparing your number with the actual net worth of retirement-age seniors should give you an idea of how realistic your long-term financial plan is and what kind of lifestyle you can expect in your golden years.

A retirement nest egg worth $1.46 million might sound impressive — and for many, that goal may sound out of reach.

A Congressional Research Service review of 2022 Federal Reserve data found that just 54.3% of U.S. households had retirement accounts. And among those, only 4.6% had assets over $1 million (2).

It's no wonder many retirees feel uneasy about their finances.

Only two in five retirees believe they have enough money for retirement, according to Schroders 2025 U.S. Retirement Survey (3).

Meanwhile, 62% admit they don't know how long their money will last.

Here's how wealth breaks down for senior-led households ages 65 to 69, based on the Federal Reserve's Survey of Consumer Finances (4) — and what you can do to strengthen your retirement strategy.

Read More: Millionaires under 43 hold only 25% of their wealth in stocks. Here's where their money is actually going

Seniors with a net worth of less than $69,500 fall into the bottom 25% of retirees.

This group is particularly vulnerable to financial shocks and highly dependent on public safety net programs such as Social Security and Medicare.

If you're approaching retirement with less than this number, it could be a good idea to take a closer look at your finances. Consider seeking additional income, finding more ways to save money, or even delaying your retirement to be less vulnerable in your senior years.

The first step towards understanding your financial situation is to assess where your money is going at all times.