{"id":29416,"date":"2026-04-02T22:19:44","date_gmt":"2026-04-02T22:19:44","guid":{"rendered":"https:\/\/fundspaid2u.com\/?p=29416"},"modified":"2026-04-02T22:19:44","modified_gmt":"2026-04-02T22:19:44","slug":"americans-say-they-need-1-46m-to-retire-up-from-last-year-study-finds","status":"publish","type":"post","link":"https:\/\/fundspaid2u.com\/?p=29416","title":{"rendered":"Americans say they need $1.46M to retire, up from last year, study finds"},"content":{"rendered":"
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The “magic number” that Americans believe they need to have\u00a0saved for retirement<\/u> jumped from a year ago as some express anxiety about their retirement savings.<\/p>\n

Northwestern Mutual released a study on Wednesday which found that the amount of retirement\u00a0savings<\/u> Americans think they need to retire comfortably rose to $1.46 million.<\/p>\n

That figure is an increase of $200,000 from last year’s edition of the report and is in line with the estimated magic number from 2024, the firm noted.<\/p>\n

“The new ‘magic number’ reflects a convergence of factors \u2014 from persistent inflation and longer life expectancies to uncertainty about the future of Social Security,” said John Roberts, chief field officer at Northwestern Mutual.\u00a0<\/p>\n

TRUMP ADMIN PROPOSES OPENING 401(K)S TO PRIVATE EQUITY, CRYPTO<\/u><\/strong><\/p>\n

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For Americans with a relatively high net worth, defined as having $1 million or more in\u00a0investable assets<\/u>, the magic number is even higher at $2.67 million, on average.<\/p>\n

“Retirement is increasingly complex, and Americans are responding by setting higher expectations for what they’ll need. What matters now is pairing those expectations with a thoughtful, comprehensive financial plan that will enable them to reach their unique goals,” Roberts said.<\/p>\n

The report found that 46% of Americans say they don’t expect they will be financially prepared for retirement, and 48% said it’s somewhat or very likely they will outlive their savings. It also found that just 23% of Americans with retirement savings said they have only one year or less of their current income set aside.<\/p>\n

LARRY FINK CALLS FOR SOCIAL SECURITY REFORM, SAYS INVESTING A PORTION OF FUNDS COULD STRENGTHEN THE PROGRAM<\/u><\/strong><\/p>\n

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The report notes that while there isn’t a universal retirement number for all Americans, Northwestern Mutual recommends that people plan to replace about 80% of their pre-retirement income.<\/p>\n

It also detailed several other\u00a0retirement rules of thumb<\/u> for Americans to consider as they think about how much they should save for retirement.<\/p>\n

The so-called “25x rule” suggests that a person should save about 25 times their expected annual savings. Using the $1.46 million “magic number” from the study, that would be sufficient to generate about $58,000 in annual retirement income, the report said.<\/p>\n

NEW PROPOSAL WOULD CAP SOCIAL SECURITY BENEFITS AT $100K FOR WEALTHY COUPLES<\/u><\/strong><\/p>\n

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Another rule of thumb is the $1,000-a-month rule, which states that for every $1,000 of desired monthly retirement spending, there should be $300,000 in savings. For example, with $1.46 million in retirement savings, it would yield about $4,800 in retirement income per month.<\/p>\n

“These rules of thumb can certainly give Americans a ballpark estimate for their own\u00a0wealth management<\/u> goals. But they don’t factor in the big risks to retirement \u2013 like increasing healthcare costs or a long-term care event,” Roberts said.\u00a0<\/p>\n

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“They also don’t consider any unique estate planning goals that Americans hope to provide to the next generation,” he added, noting that developing a financial plan with an advisor can be beneficial.\u00a0<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The “magic number” that Americans believe they need to have\u00a0saved for retirement jumped from a year ago as some express anxiety about their retirement savings. Northwestern Mutual released a study on Wednesday which found that the amount of retirement\u00a0savings Americans think they need to retire comfortably rose to $1.46 million. That figure is an increase<\/p>\n","protected":false},"author":1,"featured_media":29417,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[41],"tags":[],"class_list":{"0":"post-29416","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-news"},"yoast_head":"\nAmericans say they need $1.46M to retire, up from last year, study finds - FundsPaid2U<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fundspaid2u.com\/?p=29416\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Americans say they need $1.46M to retire, up from last year, study finds - FundsPaid2U\" \/>\n<meta property=\"og:description\" content=\"The “magic number” that Americans believe they need to have\u00a0saved for retirement jumped from a year ago as some express anxiety about their retirement savings. 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