Americans Anticipate $1.8M Retirement
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retirement savingsSmartAsset
•Americans Aim for $1.8 Million to Retire: Tips to Reach That Goal
81% Informative
Americans believe they’ll need at least $1.8 million to retire, an increase from last year’s magic number.
Only about 37% of survey participants say they think it's “very likely” they will meet their retirement goals.
The average American household earns around $71,000 per year, this means retirement will cost more like $710,000 .
Charles Schwab has published its annual report on retirement savings.
According to their survey, investors expect it will cost $1.8 million to afford their own retirement, an increase from last year’s savings target.
In 2022 results, almost half of all respondents said they’re very likely to meet their retirement goals.
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