{"id":46165,"date":"2025-08-05T03:58:17","date_gmt":"2025-08-05T03:58:17","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/46165\/"},"modified":"2025-08-05T03:58:17","modified_gmt":"2025-08-05T03:58:17","slug":"heres-how-much-money-needed-for-comfortable-retirement-average-adult-not-close-to-that-2","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/46165\/","title":{"rendered":"Here&#8217;s how much money needed for comfortable retirement; average adult not close to that"},"content":{"rendered":"<p>UNDATED (WKRC) &#8211; A new study showed people believe they need well over $1 million to retire comfortably but it also revealed the average amount United States adults have saved is not even close to that number.<\/p>\n<p>Financial services company, Northwestern Mutual Financial Planning and Life Insurance Company<a href=\"https:\/\/news.northwesternmutual.com\/planning-and-progress-study-2025\" target=\"_blank\" title=\"https:\/\/news.northwesternmutual.com\/planning-and-progress-study-2025\" class=\"themeColorForLinks\" rel=\"nofollow noopener\">, does an annual research study<\/a> that explores the way U.S. adults make financial decisions, including how much Americans actually save.<\/p>\n<p>The 2025 study found that U.S. adults believe they need $1.26 million to retire comfortably by age 65. That projected number has gone up considerably since 2020, when the expected amount to retire then was reportedly $951,000. <\/p>\n<p>Among Americans who have retirement savings, one in four (25%) say they have just one year or less of their current annual income put aside for it. Furthermore, 52% have three-times their current annual income or less saved. The majority (54%) believe they will not be financially prepared for retirement when the time comes.<\/p>\n<p>More than half (51%) of Americans think it&#8217;s somewhat or very likely they will outlive their savings, according to the study.<\/p>\n","protected":false},"excerpt":{"rendered":"UNDATED (WKRC) &#8211; A new study showed people believe they need well over $1 million to retire comfortably&hellip;\n","protected":false},"author":2,"featured_media":42751,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[15322,45,49,48,30388,133,2517,2154,30389,131,132,1705,5551,795],"class_list":["post-46165","post","type-post","status-publish","format-standard","has-post-thumbnail","category-personal-finance","tag-americans","tag-business","tag-ca","tag-canada","tag-comfortable","tag-finance","tag-financial","tag-income","tag-northwestern-mutual","tag-personal-finance","tag-personalfinance","tag-retirement","tag-savings","tag-study"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/46165","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=46165"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/46165\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/42751"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=46165"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=46165"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=46165"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}