Overview

• A new Northwestern Mutual survey finds Americans peg a comfortable retirement at $1.26 million in savings.
• Using the traditional 4% guideline, $1.26 million produces about $50,400 in the first year of withdrawals.
• A conservative 3% draw from $1.5 million yields roughly $45,000 a year, which with the average Social Security benefit of just over $24,000 totals about $69,000.
• Investopedia reports that amount is not enough in 22 states, with Hawaii estimated to require nearly $130,000 a year to retire comfortably.
• Advisors cite inflation, healthcare costs and surprise expenses as key risks and urge personalized planning, bigger cushions or ongoing income for early retirees.