“Americans Believe They Will Need $1.46 Million to Retire Comfortably,” Advisor Magazine
Quote:
“Today, as Northwestern Mutual designates April 1 ‘4/01K Day,’ the leading financial services company is announcing that Americans’ ‘magic number’ to retire comfortably in 2026 climbed to $1.46 million – $200K more than last year and in line with 2024 estimates. This increase comes as 46% of Americans say they don’t expect to be financially prepared for retirement and nearly half (48%) believe it is somewhat or very likely they will outlive their savings.”
LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform:
Center-corporate-member Northwestern Mutual paints a bleak retirement picture. One wonders if Americans would be more prepared for retirement if government hadn’t promised them Social Security since 1935 and Medicare/Medicaid since 1965. What’s worse than their current unprepared condition is the impending collapse of those promised props. No wonder this announcement came on April Fool’s Day.