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  1. Retirement
  2. Retirement Planning

Americans Now Think They'll Need a Record $1.46 Million to Retire Comfortably

By: Mary Ellen Cagnassola
Mary Ellen Cagnassola, expert in Social Security, retirement, housing, and Reporter at Money
Mary Ellen Cagnassola
Reporter | Joined May 2024
Mary Ellen (M.E.) Cagnassola is a Money reporter covering all things Social Security and retirement. She strives to translate stodgy policy news and research into engaging, informative stories that help readers navigate their retirement.
See full bio
Editor: Julia Glum
Julia Glum, expert in the IRS, taxes, credit scores, saving, colleges, mobile payment apps, and News Editor at Money
Julia Glum
News Editor | Joined February 2018
Julia Glum joined Money in 2018 and specializes in covering financial trends that affect everyday Americans' wallets. She also writes Dollar Scholar, a weekly newsletter that teaches young adults how to navigate the messy world of money.
See full bio
Published: Apr 03, 2024 5 min read
A tall stack of money, and a man reaching up for it.
Money; Getty Images

What’s the magic number you need in savings to have a comfortable retirement? Americans now predict they’ll require $1.46 million to bankroll their third acts: the highest estimate on record, according to research released Tuesday.

That's yet another uptick in the sum of money U.S. adults think they'll need to retire, according to wealth management company Northwestern Mutual’s 2024 Planning & Progress study. But their actual retirement savings are far from their expectations of how much retirement will cost.

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