A Fidelity Investments survey shows that 4 out of 10 rich people, with an average wealth of $3.5 million, say it’s not enough.  Maybe they’re right.  Most of those surveyed are thinking about being able to retire.   They say $7.5 million in assets is required to retire comfortably.

Is this proof of how bad our economy is?

If the rich are saying you need at least $7.5 million to retire, then the rest of us are truly in trouble. In fact why bother continuing to play the rat race game?  Why bother with the keeping up with the Joneses game?  Why bother throwing a good portion of your income at a 401k retirement plan?  It’s clear that the overwhelming majority of U.S. citizens, even those pumping money into retirement schemes, are never going to hit the magic $7.5 million mark that 42% of rich people say is needed just to retire.

I’m not even Middle Class. My income has steadily been going down since January 2000.  Now, my before tax deductions income is less than $20,000 per year.  I know people worse off than that.

Is this proof of how bad our economy is?  If it is, the rest of us are f**ked!