Retirement Goals Skyrocket as Savings Plummet, Widening 'Reality Gap' for Americans

Americans believe they need $1.46 million to retire comfortably, up 15% from 2023 and 53% since 2020, far outpacing inflation.

The average retirement savings has dropped to $88,400, leaving a gap of $1.37 million between goals and reality.

Gen Z started saving for retirement at 22, a decade earlier than Boomers, hoping to retire by 60 instead of the average 65.

11,000 Americans turn 65 every day, but only half of Boomers and Gen X feel financially prepared to retire.

Just 30% of people have a tax-efficient retirement plan, missing opportunities to preserve thousands in nest eggs.