To retire comfortably, plan participants say they need $1.2M
According to Schroders’ 2026 U.S. Retirement Survey, Americans currently participating in a workplace retirement plan (e.g. 401k, 403b or 457 plan) think they will need to save $1.2 million to retire comfortably. However, rising costs, credit card debt and competing expenses appear to be putting this target out of reach for many, as 51% expect to have less than $500,000 saved by retirement — including 24% who say they will have less than $250,000 saved. Just 30% believe they will reach the $1-million milestone before retiring. This savings shortfall has 81% of plan participants at ...