Americans Say They Need $1.46 Million to Retire. Average Savings Are a Fraction of That

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What does it take to have a comfortable retirement? About $1.5 million.

That’s what Americans believe they’ll need, according to an annual Northwestern Mutual survey. Trouble is, the average amount Americans have actually set aside for retirement—$88,400—is a far cry from that lofty target, according to the survey.

Inflation, although cooling...

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