Americans Think They'll Need $1.46 Million to Retire Comfortably. Are They Right?
No matter what type of retirement you want, it's fair to assume that you'll need some amount of savings to fund it. But just how much money should you be aiming to sock away? That's a tough thing to figure out, which is why so many people struggle to come up with their so-called "retirement number."
For years, people would throw around $1 million as an optimal savings target. A new survey by Northwestern Mutual, however, finds that Americans think they need $1.46 million in savings to live comfortably once +r careers come to an end. That's an increase from 2023, when U.S. adults landed on $1.27 million as their ideal retirement savings target.
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Source Fool.com
