How to Get Richer After You Retire

Grammy hasn’t been able to visit lately because she’s in the middle of getting cataract surgery. They do one eye at a time, and after the first one, she can’t really travel. So she’s waiting until the second eye. We miss her. We haven't played cards for months.

Stinky the cat is one unique creature. When I asked Chat GPT about the general personality of stray, male, gray tabbies it told me: They are wild little troublemakers, full of energy, always climbing, pouncing, and causing chaos. They're playful, curious, and hilariously naughty.

That could not be more accurate.

We now have two dogs and three other cats (all of whom are much larger) hiding under the bed. Stinky is like a heat seeking missile. If he sees one of his furry friends he launches at them kamikaze-style, ready to play.

Senay has been having a fun summer with her friends traveling all over Florida. She has quite the adventurous spirit.

For twenty years, the most common fear I've heard from people in their 60s is this:

“I’m afraid I’ll run out of money someday.”

That fear is real, and I never dismiss it. But today, I want to offer something we rarely get when it comes to retirement: perspective.

Most People Build Wealth Well Into Their 70s

Let’s look at the median (middle-of-the-road) net worth numbers from the Federal Reserve:


•Ages 45-54: $247,200
•Ages 55–64: $365,000
•Ages 65–74: $410,000
•Ages 75+: $328,000 (not to be too much of a bummer, but your last year of life costs $59,000 on average)

That’s not a drop, it's an increase. Your 60s and 70s are often your wealthiest decades.

And no, this isn’t just about people with yachts and beach houses. These are median numbers. That means half of Americans in those age groups have even more.

Why Is Net Worth Still Rising for Boomers?

Because retirement isn’t a financial cliff. It’s a slow shift. Here’s what really happens:

You stop spending like you did in your 50s.

No more work expenses, commuting, big family groceries, or kid-related bills. On average, spending drops 25–35% in retirement.

Social Security keeps growing. Many people assume it stays flat, but it doesn’t. It’s adjusted annually for inflation. In 2023, for example, the increase was 8.7%. This rising income helps reduce pressure on your savings.

Your mortgage may be gone. No house payment? That’s like getting a raise. Same goes for reduced car expenses and insurance needs.

Your money is invested, earning growth. If your investments are properly managed, they’re still working for you, even if you’re retired.

Recently, many of you have enjoyed seeing your home value increase.

One Quiet Risk: Being Too Conservative

Here’s the part most people don’t talk about: Some retirees, out of fear, move too much of their portfolio into cash or “safe” low-yield vehicles. Much of the loss in net worth for those over 75 is due to a near zero tolerance for growth.

Bottom Line

You are not drifting toward financial ruin.

If you’re like most of my clients, you’re in your strongest financial decade right now.


•Your spending is going down.
•Your Social Security is going up.
•Your wealth is still growing.
•And with the right strategy, your money can last far longer than you think.

So go out and buy that jet ski!

Be Blessed,

Dave