This article looks at the 11 best places to retire in Los Angeles. You can skip our detailed discussion of how much you need to be rich at 65 and see the If you wish to be considered amongst the wealthy at age 65 or older, you need a net worth of at least $3.2 million.
That’s according to finance expert Geoffrey Schmidt, CPA, who used data from the 2019 Survey of Consumer Finances (SCF) for determining household net worth needed at age 65 or older to assess the various percentiles of wealth in the U.S. That’s almost double the amount ( ) workers believe they need to retire as per the 2024 401(k) Participant Study by The Charles Schwab Corporation (NYSE: ).
READ ALSO: and The Charles Schwab Corporation (NYSE:SCHW) is an American multinational financial services company offering banking, commercial banking, investing, and related services including consulting, and wealth management advisory services to retail and institutional clients. The company has an impressive market cap of $114.10 billion.
It reported its second-quarter results in July 2024, beating its earnings expectations with a reported EPS of $0.73, exceeding the expected $0.717.
Its Q2 net income was $1.3 billion, or $0.66 per diluted share.
Excluding $175 million in transaction-related and restructuring costs, the adjusted net income for Schwab was $1.5 billion. The company's profit dropped by 2% due to higher interest payments on client deposits and borrowings.
The company's Q2 earnings report, which missed ne.