What Does It Really Take to Retire Rich?

Kiplinger Article featuring Greg Luken, written by Kathryn Pomroy.

With enough time and consistency, even an average income can lead to a wealthy retirement.

Building your retirement nest egg? Are you on track or lagging? Are you willing to settle for just getting by when you quit your job, or do you want to retire super wealthy?

Some people would rather retire early than rich, while others just want to be happy in their old age. If that’s not you, and retiring rich is your end game, it’s time to get to work and put a plan in place.

Unfortunately, few Americans retire with substantial wealth. Only 0.1% of retirees have amassed $5 million or more in their retirement accounts, with most falling short of the $1.26 million needed for a comfortable retirement, according to Northwestern Mutual’s 2025 Planning & Progress Study. So, what does it really take to retire rich?

The wealthy recognize that knowledge is only half the battle, says Greg Luken, founder and wealth advisor at Luken Wealth Management. “You can read all the books, attend all the seminars, and strategize endlessly — but without action, nothing changes. Execution is the bridge between dreams and reality, between financial struggles and financial success."

Read the Full Article: https://www.kiplinger.com/retirement/what-does-it-really-take-to-retire-rich