Retirement may seem far away for millions of US employees, but you don’t have to think about your golden years – and how much money you will need to live well.
The average age of retiring for US workers is 62 for US workers StudyAnd many Americans consider at least 4 1.46 million for comfortable retirement, according to northwestern mutual Report
Naturally, professionals of different races have different ideas about retirement savings goals and workforce for exemplary age.
Related: These 5 US states can benefit the worst in US retirement. How do your numbers compare?
Of Charles Schwab Annual Surveys Of the 401 (K) participants, who set up data for 1,100 US workers, provide retirement confidence, income requirements, investment trends, savings habits and maximum insights in 2025.
Only one -third of the respondents feel “very likely” to achieve their retirement saving purpose.
In generations, respondents refer to inflation because the main obstruction is obstructing their capacity for retirement (57 %). According to the report, monthly costs (38 %), stock market volatility (33 %), unexpected costs (32 %), credit card loans (26 %) and other common challenges are other common challenges.
Related: How much do you need to retire comfortably in your state? This is a defect.
Schwab survey shows that the average retirement age is 66 years old in 2025, but on average, it vary in each generation group: General Z expects to retire at the age of 62, thousands of years at the age of 65, General X and 69 years old at the age of 65.
This year, participants say they will need some less money saving for retirement in 2024: $ 1.6 million instead of $ 1.8 million. Additionally, respondents, average, expect the retirement saving that will continue for 22 years in 2024 over 23 years.
“Inflation and market volatility is in mind, which can make it difficult to develop long -term retirement strategies,” said Lee Mc Ado, Managing Director of Schwab Retirement Plan Services. “It is encouraging to see that most researchers are preferring consistency in terms of their contribution rates and is largely refusing to drown their retirement. It is a positive sign that they are focused on their future.”
Retirement may seem far away for millions of US employees, but you don’t have to think about your golden years – and how much money you will need to live well.
The average age of retiring for US workers is 62 for US workers StudyAnd many Americans consider at least 4 1.46 million for comfortable retirement, according to northwestern mutual Report
Naturally, professionals of different races have different ideas about retirement savings goals and workforce for exemplary age.
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