You’re in the top 1% US boomers if you can shout ‘no’ to these 3 questions — how bulletproof is your nest egg?

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With roughly $85 trillion in aggregate assets, baby boomers are widely considered to be the wealthiest generation in history, according to the Washington Post (1). But this enormous fortune is far from evenly distributed and millions of boomers are facing a precarious retirement.

In fact, the median net worth for households led by someone between the ages of 65 and 74 was just $409,900, according to Fidelity's analysis (2) of the latest Federal Reserve Survey of Consumer Finances. In other words, nearly half of all boomers are not even halfway to the seven-figure club.

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So, if you're part of this cohort and wondering where you stand, here are three questions that could help you determine if your retirement is absolutely bulletproof and ahead of the pack.

1. Is your nest egg below $17.9 million?

Perhaps unsurprisingly, the threshold for being in the top 1% of the wealthiest generation is staggering. According to DQYDJ's analysis (3) of the Federal Reserve SCF, you would need a net worth of roughly $17.87 million to be in the top 1% of households led by someone between the ages of 60 and 64.

In short, you'll need to be a multimillionaire to break into the top 1%.

However, the bar is significantly lower at just $3 million if you're trying to get into the top 10% of this age cohort. That's nearly double the number ($1.46 million) most Americans said they would need to retire comfortably in 2026, according to Northwestern Mutual (4).

2. Do you still have a mortgage (or any debt)?

Even with a multi-million-dollar nest egg, your retirement could be uncomfortable if you're swimming in debt. Unfortunately, for many boomers, this is their reality in 2026.

Baby boomers have an average of $191,650 in mortgage and $25,812 in total nonmortgage debt, according to Experian data cited by CNBC (5). That's a significant burden at any age, but it's particularly concerning for retirees on a fixed income.