Overview
- BlackRock reports Americans say they need about $2.1 million to retire comfortably, yet 62% surveyed had under $150,000 saved.
- New snapshots highlight modest cushions: Transamerica finds a $126,000 median for current retirees, and a recent NIRS analysis shows a $955 median across all workers.
- Roughly half of U.S. households nearing retirement have no 401(k) or IRA savings, according to Federal Reserve data reported by Fortune.
- Older Americans are increasingly earning paychecks in retirement, with 19.5% of people 65 and over in the labor force in 2024, as rising costs and healthcare pressures strain fixed incomes.
- Social Security’s trust fund faces depletion in the mid‑2030s, risking 20%–25% benefit cuts without congressional action, while firms expand guaranteed‑income options and experts urge personalized planning.