"Retirees believe Americans who plan to retire comfortably in 2026 will need an average of $823,800 in savings and investments. That figure surged from $580,310 in 2025 an increase of nearly $250,000 in a single year. Forty percent believe $1 million or more is required. And the reality of what this group actually saved looks far different. Retirees report average savings of $288,700 barely one-third of what they believe new retirees need and down from $308,040 last year."
"Fewer than one in four retirees (23%) had at least $500,000 saved when they retired, while 29% say they had no retirement savings at all. Women report significantly lower balances, averaging $261,763 compared with $330,305 for men, the survey showed. Nearly two-thirds of retirees (64%) say the U.S. is in a retirement crisis, while only 41% believe retirement will be possible for the typical American in 25 years."
"Almost half (48%) are not confident they can sustain their current quality of life for the rest of their lives, while 23% are unsure they can do so for even the next year. About half of retirees (51%) say they have no plan if their savings run out and 43% say they would prefer to die rather than face that outcome. About 55% prioritize preserving their finances over enjoying retirement."
Retirees expect Americans retiring comfortably in 2026 will need an average of $823,800, up sharply from $580,310 in 2025, and 40% say $1 million or more is required. Actual retiree savings average $288,700, down from $308,040, with only 23% having at least $500,000 and 29% having no retirement savings. Women average $261,763 versus $330,305 for men. Sixty-four percent view the U.S. as in a retirement crisis and only 41% think retirement will be possible for the typical American in 25 years. Financial insecurity has led many retirees to skip care, skip meals, and lack contingency plans.
Read at www.housingwire.com
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