"BlackRock CEO Larry Fink says Americans are dramatically underprepared for retirement - and the numbers paint a grim picture. In his 2025 annual shareholder letter, Fink, 73, told Americans they "haven't saved enough to retire comfortably." BlackRock manages about $14 trillion in assets, more than half of which are for retirement."
"The firm conducted a recent survey of 1,000 registered voters in late January and found that, on average, people think they need around $2.1 million to retire. However, 62% of those surveyed had less than $150,000 saved for retirement, or about 7% of what they believe they will need."
"According to Fidelity, the suggested retirement savings target at age 30 is about the amount of your annual salary. By age 40, that number jumps to three times your annual salary, and by age 50, it should be six times your annual salary. So, for example, if you earn $100,000, an on-track target at age 40 is $300,000 in retirement savings."
BlackRock manages roughly $14 trillion in assets, with more than half allocated for retirement. A BlackRock survey of 1,000 registered voters in late January found the average perceived retirement need was about $2.1 million, while 62% reported having under $150,000 saved, roughly 7% of that target. Fidelity recommends retirement-savings benchmarks by age: about one year of salary by 30, three times by 40, six times by 50, and roughly ten times by 67 if saving 15% annually. Vanguard reported an average retirement account balance of $148,153 in 2024, and Northwestern Mutual placed the retirement "magic number" at $1.26 million.
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