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401(k) Participants Believe $1.7 Million is the Magic Number for Retirement, but Their Investing Behavior May Leave Them Short

Jun 11, 2019 - Business Wire

New research from Schwab Retirement Plan Services finds that although 401(k) participants believe they need $1.7 million, on average, to retire, many are not investing enough to reach that goal. The nationwide survey of 1,000 401(k) plan participants also reveals the outsized role of the 401(k) in Americans' financial lives, with most (58%) saying it is their only or largest source of retirement savings.

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