Americans Say They Need $1.46 Million to Retire—Few Are Anywhere Near It
By Leila Sheridan
Published on April 5, 2026.
A study by Northwestern Mutual has found that Americans believe they need significantly more money to retire, but most are not near it. The "magic number" for retirement savings has risen to $1.46 million in 2026, up roughly $200,000 from last year. This increase is attributed to persistent inflation, longer life expectancy, and uncertainty about how technologies like artificial intelligence could impact the job market. However, despite this, the median retirement savings for American workers are only $955,000, far below the target.
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