Retirement Saving Statistics: Are You Saving Enough?

Financial experts say we ought to start saving in our 20s if we want to enjoy a comfortable, worry-free retirement.

How realistic is that? Are we responsible enough to invest in our futures, or are we mainly concerned with living in the present and surviving on a day-to-day basis? In order to find out exactly where America stands on this matter, we’ve taken a look at some of the latest and most relevant available numbers.

Key Retirement Savings Statistics for 2026 - Editor's Choice

• 34% of Americans have less than $1,000 in retirement savings in 2026.
• 58% of people in the United States now admit they have no idea how much they need to save for retirement.
• People in the United States now feel the best age to retire is 65.
• 29% of US retirees have no savings in 2026.
• 38% of Americans are using the assistance of AI to help them plan for retirement in 2026.

34% of Americans have less than $1,000 in retirement savings in 2026.

(Forbes Advisor)

When we look at the overall data, 36% of Gen Zers have less than this amount in savings, followed by Millennials at 33%.

In 2026, Americans say that they need $1.61 million to retire comfortably.

(Northwestern Mutual)

This figure has grown by a staggering 65% since 2020, and by 10% since 2025 alone.

49% of retirees in the US worry that they’ll outlive their savings as of 2026.

(Clever Real Estate)

What's more, some 46% stated that they would rather die than run out of money, a slight increase from 2024 levels.

In 2026, people in the United States feel that the best age to retire is 65.

(MassMutual)

The average actual retirement age in 2025 was 63.

82% of Americans expect to work past 65 years of age because they don’t have enough retirement funds according to 2026 data.

(Northwestern Mutual)

Just over half of people would continue working after 65 simply because they choose to do so. People who will have to work out of necessity are generally concerned about how much money they have saved up or distrust the social security system’s ability to provide enough for them.

Of those who would continue working by choice, 55% enjoy their jobs, 49% want more income, and 42% simply want to remain social.

Only 4% of Gen Zers are primarily saving for retirement in 2026.

(Forbes Advisor)

The latest data shows that only a tiny minority of young people in the US are saving for retirement. After the Gen Z population, just 10% of Millennials are primarily saving for their retirement, down from 11% in 2024.

The average amount an adult in the US has saved for retirement in 2025 was $91,200.

(Northwestern Mutual)

This represented a slight increase from $88,400 in 2024.

Just 32% of Americans have plans to minimize the taxes they paid on retirement savings in 2026.

(Northwestern Mutual)

Among those that have plans, the main strategy is making strategic withdrawals from traditional and Roth IRA accounts in order to remain in a lower tax bracket.

47% of Americans in 2026 say that they wish they started saving for retirement earlier.

(Empower)

What's more, some 51% of respondents say that they would prefer a longer retirement with less money than to retire later in life.

There were over 495 thousand IRA and 620 thousand 401(k) millionaires in the United States by Q4 2025.

(Fidelity Investments)

This is a record number by all accounts, surpassing the 418 thousand IRA and 544 thousand 401(k) millionaires recorded in 2024. IRA millionaire accounts grew by 6.2%, and 401(k) accounts grew by 11.4% year-over-year.

The average 401(k) balance at the start of 2026 is $315,500.

(Empower)

The numbers for those aged 50 or older are at $612,400.

38% of Americans are using AI to help them plan for retirement in 2026.

(Empower)

This is a significant jump from the 21% recorded in 2024. Americans are increasingly adopting artificial intelligence to consult regarding financial and savings matters.

95% of US retirees in 2026 believe that people underestimate how much money they'll need to retire comfortably.

(Clever Real Estate)

The vast majority of retirees state that a person needs $620,000 to retire comfortably in 2026, up from $580,000 in 2025 and $540,000 in 2024.

29% of retirees in the US have no savings in 2026.

(Clever Real Estate)

Out of those, 59% state that the reason they have no retirement savings is due to the fact that they are living from paycheck to paycheck.

61% of pre-retirees in 2025 increased their savings in order to better prepare for retirement.

(MassMutual)

The same survey found that 69% of respondents placed a higher emphasis on taking care of their health, while 62% contributed more money to their retirement account in order to better prepare for retirement.

58% of retirees in 2025 spent less than they did before retiring.

(MassMutual)

In a similar manner, 61% of pre-retirees anticipate having to cut down on their spending once they are retired.

The average debt among retirees who have debt is $21,800 in 2026.

(Clever Real Estate)

The same data shows that 67% of retirees still have non-mortgage debt, with 35% owing $10,000 or more.

In 2025, women had less than 28% the median retirement savings of men.

(Prudential Financial)

Women are also nearly three times as likely to delay retirement for caregiving duties.

84% of Americans in 2026 state that the country is in a retirement crisis.

(The National Institute on Retirement Security)

This is a staggering increase from 79% in 2024.

55% of retirees in 2026 believe that their fellow retirees rely too heavily on government assistance instead of their own personal savings.

(Clever Real Estate)

On the other hand, 83% of them state that the government should do more to help retirees.

62% of American workers feel significantly behind on their retirement savings in 2026.

(Bankrate)

Out of those, 39% state that they feel significantly behind.

18% of workers are now utilizing Health Savings Accounts (HSAs) specifically as a long-term retirement investment vehicle in 2026.

(Devenir)

This represents a 5% increase from 2024 as more employees recognize the triple-tax advantage of these accounts.

12% of Millennial and Gen Z investors in 2026 have allocated at least 5% of their retirement portfolio to digital assets.

(Investopedia)

Despite ongoing market volatility, younger generations are consistently integrating cryptocurrency into their long-term strategies.

14% of eligible workers aged 60–63 maximized their higher catch-up contributions in 2025.

(Vanguard)

Following the implementation of SECURE 2.0 Act changes, these savers contributed an average of $11,250 in additional funds. This legislative shift has allowed those in the red zone of retirement to aggressively narrow their savings gaps during their peak earning years.