A recent survey by Northwestern Mutual reveals that Americans now believe they need $1.46 million to retire comfortably, a notable increase from $1.25 million in 2022. The survey, conducted in January 2026, indicates that nearly half of non-retired adults feel unprepared for retirement, with concerns about outliving their savings. The typical household aged 65-74 has only about $200,000 saved, far below the perceived retirement target. Experts suggest a more realistic goal is to save 10 times one's annual income by age 67, translating to approximately $800,000 based on the median income of $83,730. Generation X faces significant challenges, with only 13% having saved the recommended amount, while many plan to continue working after retirement. In contrast, Generation Z appears to be on a better savings trajectory, having started saving at an earlier age, which may help them build a more secure retirement.