Retirement Goals Far Exceed Savings for Most Americans
- Americans believe they need $1.46 million saved to retire comfortably, a 53% increase from 2020
- But the average retirement account balance is only $88,400 currently
- There is a $1.37 million gap between target and actual retirement savings
- Americans expect to live longer retirements and believe Social Security benefits may be cut
- Most Americans don't calculate their retirement needs but guess based on a "feeling"
