Retire comfortably: you may not need more than $1.2M.

Many Americans worry they must save more than $1.2 million for retirement, but surveys and studies cited in the article show retirees often spend the same or less than expected and that fixed income sources such as Social Security provide steady monthly cash flow.

Rising living costs and market swings have increased retirement-related worry. Nearly six in 10 U.S. adults surveyed by Goldman Sachs reported concern they may outlive their retirement savings. Some industry reports place the average retirement savings target above $1.2 million. The article notes that both spending patterns and fixed income sources can change how large a nest egg is needed. Key facts: - A Goldman Sachs survey found nearly six in 10 U.S. adults worry they may outlive their retirement savings. - Northwestern Mutual reports an average retirement savings target of about $1.26 million, which many people use as a benchmark. - The Employee Benefit Research Institute (EBRI) reports 55% of retirees say their retirement expenses are equal to or lower than they expected. - A 2025 study in Financial Planning Review found withdrawal rates near 2.1% for married couples 65 and older and about 1.9% for single retirees, and the article highlights that Social Security and other fixed income reduce reliance on large personal savings. Summary: These data points indicate that many retirees experience expenses that match or fall below expectations and that steady fixed income can supplement savings. Undetermined at this time.