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If workers’ estimates are right, many are likely to fall far short. Robert Kneschke / Shutterstock.com
American workers say they need $1.8 million to retire. But many are at risk of falling short of that lofty goal. A Charles Schwab survey of 1,000 nationwide 401(k) plan participants ranging in age from 21 to 70 asked how much money they would need saved to retire. The $1.8 million figure they cited on average was up a touch from the $1.7 million cited in last year’s study.
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