Overview
- The $1.46 million figure, reported Tuesday in Northwestern Mutual’s 2026 study, is up roughly 15% from last year’s $1.26 million.
- Surveys show rising anxiety about outliving savings, with about 40% to 48% of adults saying they may fall short of what they need to retire.
- Retiring before 65 creates a health insurance gap before Medicare, and typical individual premiums for a 61‑year‑old run about $700 to $1,000 per month before subsidies.
- Advisers flag sequence‑of‑returns risk for new retirees and recommend cash buffers covering several years, delaying Social Security for larger checks, and keeping spending flexible.
- Many savers lag far behind the target, as only about half of households under 35 have retirement accounts and the typical balance is roughly $18,800.