Posted 4/3/2024, 1:30:00 PM
Retirement Savings Goals Rise, But Reality Falls Short for Most Americans
- Americans think they need $1.46 million saved to retire comfortably, up 15% from $1.27 million last year
- Reality check Americans have saved an average of just $88,400 for retirement currently
- Baby Boomers think they need $990,000 saved; Millennials put the figure at $1.65 million
- Millennials started saving for retirement 10 years earlier on average than Boomers
- Fidelity recommends saving 10 times your annual salary by age 67 to cover 45% of income in retirement
