The 'magic number' Americans say they need to retire comfortably is $1.46 million—how to catch up if you're behind
#retirement savings #$1.46 million #catch up #financial strategies #investment #comfortable retirement
📌 Key Takeaways
- Americans report needing $1.46 million to retire comfortably, a significant increase from previous estimates.
- Many individuals are behind on retirement savings and need strategies to catch up.
- The article provides actionable advice for boosting retirement funds, such as increasing contributions and adjusting investment strategies.
📖 Full Retelling
Data from Northwestern Mutual shows that Americans say they need a bigger number to retire, and they're having trouble getting there.
🏷️ Themes
Retirement Planning, Financial Preparedness
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Related Stories Save and Invest Money coach maxes their Roth IRA at the start of every year: It's 'non-negotiable' Save and Invest This common money move can be a silent wealth killer—what to do instead Work How a 'calendar purge' could transform your routine, career coach says Earn How much one parent needs to earn so the other can stay home, by state Psychology and Relationships A psychologist's hack for actually keeping your New Year's resolutions Save and Invest The 'magic number' Americans say they need to retire comfortably is $1.46 million—how to catch up if you're behind Published Tue, Apr 7 2026 12:29 PM EDT Ryan Ermey Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email Dejan Krstevski | Istock | Getty Images No two people's financial needs in retirement are exactly the same. But Americans, on average, seem united about something: They'll need to save more to retire than they previously thought. U.S. adults say they'll need $1.46 million, on average, to retire comfortably, according to Northwestern Mutual's 2026 Planning and Progress study . That's a 15% jump from the $1.26 million they said they'd need in the report's 2025 edition. "The new 'magic number' reflects a convergence of factors — from persistent inflation and longer life expectancies to uncertainty about the future of Social Security," John Roberts, chief field officer at Northwestern Mutual, said in a statement. The data also reveals that many Americans fear their savings aren't up to snuff. Among non-retirees, 46% say they don't expect to be financially prepared to retire when the time comes. By mathematical measures, that figure may overestimate some people's preparedness. As a rule of thumb, Fidelity recommends savers have four times their annual salary saved by age 45 and eight times saved by age 60 to be "on track" to retire. DON'T MISS: The leadership skills that can help you stand out at work Among Gen Xers — generally, those curr...
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