The amount of savings that a majority of Americans believe they need to retire comfortably has declined by $200,000 in 2025, according to an April 21 CNBC report.
According to a survey from Northwestern Mutual that polled 4,600 adults in January, the number sits at $1.26 million, down from $1.46 million in 2024.
In 2023 and 2022, the majority of Americans expected to need $1.27 million and $1.25 million, respectively, to retire comfortably.
In the fourth quarter of 2024, 401(k) and individual retirement account balances reached the second-highest averages on record, according to the report. However, since the beginning of the year, the S&P 500 is down 10% year to date and the Nasdaq has dropped 15%.
In 2024, just about half of U.S. workers (54%) expected to be financially ready for retirement, while 51% expected to outlive their retirement savings.
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