00:00There's a new magic number that you should have in savings in order to retire comfortably.
00:041.46 million bucks. That is a lot. And it is a $200,000 increase over the previous threshold.
00:12But here's the real problem. As if you couldn't guess, only about half of Americans feel ready
00:17to hit that mark according to a recent survey. Frankly, half feels generous if you ask me.
00:23The increased figure comes from Northwestern Mutual's 2026 Planning and Progress study.
00:28So why the big change? Because everything is so damn expensive right now. My words, not theirs.
00:35The company says the need for more inflated savings accounts is actually due to a confluence of issues.
00:40Inflation, longer life expectancies, and uncertainty about Social Security were among some of the biggest factors.
00:46The age-old math around retirement savings says that on average, Americans need to replace about 80%
00:51of their pre-retirement income in their golden years. The survey says half of Americans believe
00:55they will outlive the money they have in the bank. And 36% say they haven't even tried to remedy
01:01the
01:01situation. Gen X is the most nervous about it. One in five of those asked said that they were delaying
01:06retirement over those concerns. And as a millennial, I can tell you, we are nervous too. Now, there is a
01:12lot
01:13more to dig into here. So I will link to the post article. No matter what your age, it is
01:17totally worth a read.
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