Could the ‘Seinfeld’ Crew Actually Afford Retirement in New York?
Written by
Stacy Sare Cohen
Edited by
Brendan McGinley
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services - our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our products and services review methodology.
20 Years
Helping You Live Richer
Reviewed
by Experts
Trusted by
Millions of Readers
NBC’s hit series Seinfeld, created by Larry David and Jerry Seinfeld, disrupted the American sitcom. It ran for nine seasons from 1989 to 1998, generating nearly $1 billion in revenue through NBC airings, syndication and in 2021, a $500 million Netflix deal. That’s a lot of passive income!
Audiences have continuously tuned in to watch this quirky, neurotic and analytical crew — Jerry Seinfeld, George Costanza, Elaine Benes and Cosmo Kramer — talk about “nothing” as they navigate relationships and everyday life in New York City through the lens of economics.
Let’s imagine if these characters were real-life New Yorkers. Could the “Seinfeld” crew actually afford retirement in the Big Apple? Here’s how their lives might look at age 65, and whether any of them are still friends in retirement.
Jerry Seinfeld Became a Billionaire
Jerry Seinfeld, playing himself, had the most stable income of the crew, thanks to steady stand-up comedy gigs and TV appearances. In retirement, his net worth is estimated to be $1 billion, according to Bloomberg.
His character likely invested 30 years of maximum 401(k) and IRA contributions, as well as index funds and bonds, and owned real estate in the Hamptons and Tuscany — and let’s not forget his mortgage-free apartment on the Upper West Side in Manhattan, worth $5.5 million, that he bought in the 1990s for $400,000. Between Social Security, his investment portfolio, real estate and Seinfeld royalties at age 69, he’s a billionaire.
Elaine’s Rent-Controlled Apartment Affords Her Frugal NYC Living
While Elaine (Julia Louis-Dreyfus) didn’t earn Jerry’s kind of money, she did have a rent-controlled apartment and steady employment. She climbed the ladder to executive status in the publishing industry and received investing tips from an ex-boyfriend who was a financial advisor (the romance didn’t work out, of course) to consolidate her 401(k)s into an IRA and contribute regularly.
In retirement, her 401(k) and IRAs are worth $950,000, and she has an additional brokerage account with $200,000 in extra savings. With part-time consulting work and $3,000 a month from Social Security, as well as her investments, her total annual retirement income is $85,000. With a rent-controlled apartment under $2,000 per month, she can afford a modest Manhattan lifestyle.
George Costanza Lives in Queens With Kramer
George (Jason Alexander) had chances to build a healthy nest egg, but his spotty employment, paranoia and poor decision-making got the best of him. After George got fired from the New York Yankees in 1997, he cashed out most of his 401(k). For a while, he moved in with his parents until Estelle kicked him out after catching her son “treating his body like an amusement park” with a Glamour magazine again.
During retirement, George engages in consulting work and holds a part-time position as an outreach coordinator for a marine biologist on Rockaway Beach, Queens. He lives in a rent-stabilized brownstone in Queens owned by Kramer. George’s annual retirement income is $60,000 and includes a monthly Social Security check of $1,800, a brokerage account of $75,000 and some money in his 401(k), making his total net worth around $500,000.
Kramer Becomes an Accidental Landlord
Cosmo Kramer (Michael Richards) never had steady employment, a 401(k) or an IRA, but what he did have was luck. It happened one night in Atlantic City when he slipped and fell on a winning bingo card. (It was fate, Jerry.)
Kramer walked away with $40,000 and surprised everyone when he made a down payment on a run-down brownstone in Queens, although Jerry thought Queens was a bad idea.
The neighborhood has been gentrified, and his brownstone is now worth $2 million. He earns $60,000 a year in rental income from tenants, including his good friend George Costanza, and hosts Kenny Rogers chicken barbecue parties on the roof where you’ll find an organic garden with medical marijuana.
He’s still talking about clearing out the furniture and making levels. (Jerry still doesn’t believe he’ll do it.) Kramer’s retirement income includes a $700 monthly Social Security check, pieced together from Screen Actors’ Guild credits and other short-term jobs, as well as the stint he worked at H&H Bagels before his 12-year strike. His annual retirement income is approximately $68,400, and his net worth is $2 million.
More From GOBankingRates
