American Workers Now Say They Need More Than $1 Million To Retire Comfortably
View Source | April 17, 2023 5:23 pm
- Most American workers believe they will need well over $1 million to retire comfortably, even as less than half expect to reach their savings goals, according to a survey from Schroders released earlier this month.
- Americans older than 45 told the investment management firm that they would need an average of $1.1 million by retirement age, even as only 21% expect to save more than $1 million, a decrease from 24% in last year’s edition of the survey.
- Some 59% said they expect to have less than $500,000 saved, while 27% said they would have less than $250,000 saved.
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