And for those still on the path to seven figures, a good advisor can help you get there.

If you have a portfolio of $250,000 or more, platforms like WiserAdvisor can connect you with vetted professionals who specialize in this kind of planning.

Simply answer a few questions about your savings, retirement timeline and overall investment portfolio.

From there, WiserAdvisor reviews its network to match you — for free — with up to three vetted, reputable advisors aligned with your specific needs.

You can then schedule no-obligation consultations with your matches to determine who is the best fit for your long-term goals.

WiserAdvisor is a matching service and does not provide financial advice directly. All matched advisors are third parties and specific financial results are not guaranteed.

Read More: Millionaires under 43 hold only 32% of their wealth in stocks. Here's where their money is actually going

The smartest thing you can do

Given the potential pitfalls, it may be a good idea to keep your net worth a secret from nearly everyone. And if you are approached for a loan, you can simply say your funds are tied up in long-term investments and difficult to liquidate.

The less you disclose, the fewer expectations you'll need to manage.

This seems to be the preferred strategy for most Americans. A 2023 survey conducted by Empower showed that 62% of U.S. adults do not talk about money at all (3). All told, 63% of them don't discuss personal finances with their family and 75% do not raise the subject with their friends.

While mum's the word among friends for most Americans, it's important to be honest with yourself about your wealth.

Remember that $1 million can be a huge milestone, but it's not a silver bullet. You still need a disciplined savings and investment plan to keep things on track. Especially if your 'magic number' is significantly higher than $1 million. And it very well might need to be. Using the 4% rule, a nest egg of $1 million only amounts to $40,000 per year.

One way to keep yourself honest and on top of your finances is to monitor your money at a glance.

Monarch Money puts all your finances under one roof, from your banking statements to your investments. You can also add separate or joint accounts to your dashboard, which can be great for tracking grocery runs for couples or helping your child get used to big-picture financial planning as parents. The app is also well reviewed. Forbes ranked Monarch Money as their best budgeting app for 2025, as did the Wall Street Journal.

And the best part? Monarch Money offers a seven-day free trial so you can see if it's right for you. If you like what you see, you could then get 50% off your first year with code WISE50 .

The right portfolio allocation mix for you

As of 2025, 62% of Americans own stocks, according to data from Gallup (4). However, volatility in the market since the beginning of this decade shows how critical it is to be well-diversified in your investments, especially as you approach retirement. A downturn in the market could leave you with significantly less cash for your golden years.

In spite of this, many Americans rely solely on their stock market investments through 401(k)s and IRAs for their retirement savings. Especially as the Magnificent Seven dominate the market and account for approximately 34% of the S&P 500, a downturn in tech and AI could seriously damage a stock-heavy portfolio (5).

Here are some alternatives to create a better balance in your retirement investments.

Think outside the box

Picking investments that behave independently of the stock market helps shield your portfolio should the market hit a particularly rough patch. But knowing what to pick isn't always easy.

With Willow Wealth , eligible investors can diversify beyond publicly traded stocks and bonds through private-market opportunities spanning real estate, private equity, private credit, art and litigation finance.

Minimum investments start as low as $5,000. You can select individual deals or opt for diversified funds , including funds managed by institutional firms such as Goldman Sachs, Carlyle and StepStone.

More than 500,000 members have invested over $6 billion (1) through Willow and the platforms it has acquired.

Private investments can require long holding periods, carry higher fees and result in losses. See how Willow can put your money to work across a wider range of assets .

Diversify with real estate

Another inflation-resistant alternative investment you could consider is real estate. This vertical includes a wide variety of property types for investors, including apartments, industrial properties and even commercial units.

But finding and sourcing these kinds of deals can be tricky for everyday investors.

Accredited investors can now tap into this opportunity through platforms such as Lightstone DIRECT , which gives you access to single-asset multifamily and industrial deals.

Lightstone DIRECT's direct-to-investor model ensures a high degree of alignment between individual investors and a vertically-integrated, institutional owner-operator — a sophisticated and streamlined option for individual investors looking to diversify into private-market real estate.

With Lightstone DIRECT, accredited individuals can access the same multifamily and industrial assets Lightstone pursues with its own capital, with minimum investments starting at $100,000.

— With files from Vishesh Raisinghani.

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Article Sources

We rely only on vetted sources and credible third-party reporting. For details, see our ethics and guidelines .

Northwestern Mutual ( 1 ); J.G. Wentworth ( 2 ); PR Newswire ( 3 ); Gallup ( 4 ); The Motley Fool ( 5 ); CNBC ( 6 ); Fortune ( 7 ); Willow Wealth ( 8 );

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.