Middle-class Americans are reaching the $1 million net worth milestone, but many don’t feel wealthy due to rising costs and limited cash flow, despite long-term gains in home values and retirement accounts.

Hitting $1 million doesn’t guarantee financial freedom, as inflation erodes its buying power and rising healthcare costs can quickly deplete savings for couples living into their 80s or 90s.

Many middle-class millionaires find their wealth tied up in assets like homes and retirement accounts, limiting immediate cash flow and flexibility in the face of rising living expenses.

Reaching $1 million is a starting point, not a finish line, requiring strategic decisions like downsizing, delaying Social Security, and utilizing payment systems to ensure lasting financial security in retirement.

Regular financial check-ins, conservative growth assumptions, and aligning spending with cash flow are key to converting net worth into sustainable income and building financial confidence for the long term.

Read more at Yahoo Finance: Why Middle-Class Earners Quietly Becoming Millionaires Can Still Feel Broke