$1 Million Is Needed For Retirement, But Is It Feasible? | WYPR

$1 Million Is Needed For Retirement, But Is It Feasible?

Aug 29, 2019

Many of us have heard that one million dollars is the magic benchmark for retirement savings. But according to a recent survey from Charles Schwab, many Americans believe that one million dollars in savings is inadequate.  Based on responses from 1,000 401k plan participants nationwide, Americans believe they will need $1.7 million to retire.  Many people will fail to achieve even the smaller $1 million in retirement savings threshold.