Only 3.2% of retirees have $1 million or more in retirement accounts, Federal Reserve data cited by Moneywise show. A 2026 Clever Real Estate survey found 40% say they need at least that much; a separate 2025 poll put the average target at $1.46 million.
Although 40% said they need at least $1 million, the 2026 survey’s average target across all respondents was $823,800. A separate Clever Real Estate survey put a typical U.S. retiree’s savings at $288,700; 29% of respondents said they had no retirement savings, while 23% reported more than $500,000 in savings and investments.
An Allianz study published in January 2026 found that 51% of U.S. adults had reduced or stopped retirement contributions in the previous six months. The article says targets vary by individual and suggests starting earlier and increasing IRA contributions; it lists 2026 annual limits of $7,500 for people under 50 and $8,600 for those over 50.
