Americans report needing $1.2 million to retire comfortably
According to Schroders' 2026 U.S. Retirement Survey, Americans believe they need to save $1.2 million to retire comfortably. However, most respondents feel this target is unattainable due to inflation and credit card debt. The survey of 1,500 investors found that only 30% expect to have at least $1 million in savings by retirement, while over half anticipate having less than $500,000. Many cited rising living costs—such as healthcare, utilities, insurance, and housing—as major obstacles. Participants are primarily enrolled in workplace retirement plans like 401(k)s but remain concerned about their financial security post-retirement. Some have taken loans from these accounts to cover personal emergencies or debt.
Topics: debt inflation retirement savings