Slicing and dicing the body of American workers has come up with a new demographic: the "high-net-worker," with a high income and spending habits to match, an apparently inexhaustible appetite for work and scorn for the very idea of retirement.
These HNWs, according to EverBank research, are between 41–63 years old. They have an average household income of $374,000 and median investable assets between $750,000 to $1 million.
Those high salaries come with beaucoup hours at the office, and most of this HNW crowd puts in at least 50 a week. Notwithstanding, they have no interest in retiring as the magic age approaches. In fact, one out of eight (13 percent) never plans to retire. And the higher their net worth, the less they plan to leave the workplace. Among HNWs with household incomes greater than $500,000 and at least $2.5 million in investable assets, that 13 percent rises to 23 percent.
Recommended For You
This group of HNWs doesn't do things by halves—not only do they not believe in downsizing, as previously folks approaching retirement age did, many are going in the opposite direction.
Thirty-three percent said they planned a real estate purchase within the next two years; in many cases, it would be for a second or even a third home. That makes sense, since 74 percent said they intend to keep their present homes for at least the next 10 years. And nearly half (48 percent) say they're already living in their dream homes.
Real estate is important enough to them that 58 percent say they would, or already have, helped out their kids with a down payment to buy their own homes.
But if they're ready to spend, that doesn't mean they aren't ready to save, too. They're twice as likely as the general population to be invested in a 401(k), and five times more likely to be invested in a 529 college savings plan.
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more information visit Asset & Logo Licensing.
