Retirement Goals Far Exceed Savings for Most Americans

• Americans believe they need $1.46 million saved to retire comfortably, but actually have less than $89,000 saved on average • The $1.46 million "magic number" for retirement is 15% higher than last year and 53% higher since 2020 • 50-59 year olds think they need $1.74 million saved but only have $115.7k; 40-49 year olds think $1.3 million but have $91.5k • Only 40% of "Gen X" workers know exactly how much they will need to retire • New York and New Jersey ranked among the worst states to retire due to high cost of living and housing prices