Americans said they need to save $1.2 million to retire comfortably, according to Schroders’ 2026 U.S. Retirement Survey. But most think they cannot achieve the target due to inflation and cr
Americans said they need to save $1.2 million to retire comfortably, according to Schroders’ 2026 U.S. Retirement Survey.
But most think they cannot achieve the target due to inflation and credit card debt. 51% of the participants said they will have less than $500,000 when they retire, including 24% who expect less than $250,000 in savings by retirement. Only 30% expect to have $1 million in savings before retiring.
Notably, all the survey respondents are participating in a workplace retirement plan (e.g., 401k, 403b, or 457).
Related: 'Rich Dad Poor Dad' author issues stark warning on looming 'retirement disaster'
In fact, 81% of plan participants are at least slightly worried about running out of money in retirement.
55% claimed to be unable to save 10% of their paycheck for retirement due to rising expenses. 33% said their credit card debt is higher than their retirement savings. 69% said soaring healthcare, utility, insurance, and housing costs have put retirement out of reach for their generation.
74% of the workplace retirement plan participants said it's the most important retirement asset they depend on. Many reported taking loans from these plans to clear debts, personal emergencies, etc.
The participants also revealed how their plans have allocated assets:
The survey was conducted by 8 Acre Perspective among 1,500 U.S. investors nationwide aged 30-79, including 382 retired Americans, during March 20-Apr. 15, 2026.
Though none of these workplace retirement plans have allocated assets to innovative financial instruments like cryptocurrencies due to their risky profile, Michael Milmeister, co-founder and CEO of the Bitcoin broker Stormrake, believes it's a mistake.
In a conversation with TheStreet Roundtable in May, Milmeister argued that not holding Bitcoin in your portfolio is a risk even for those approaching retirement.
He recommended a 5%-10% Bitcoin allocation as a starting point for most investors. In contrast, BlackRock recommends only a 1%-2% allocation.
Most of the investors consider Bitcoin to be extremely risky, but Milmeister said,
"Not having Bitcoin in your portfolio is hugely risky. You could be missing out on an asset that's growing faster than anything else. Not having it at all, that's the biggest problem."
Bitcoin wasn't worth even $500 in its initial years but is worth $64,580.12 today.
However, it is currently trading 50% lower than the record high price of $126,080 it hit on Oct. 6, 2025, a reflection of its highly volatile nature.
In August 2025, President Donald Trump signed an executive order asking federal agencies to expand access to alternative assets such as cryptocurrencies in retirement plans.
When the Labor Department sent its proposal in response to the order, it didn't explicitly approve the inclusion of crypto assets in 401(k)s. Instead, it focused on how fiduciaries evaluate investment options regardless of their nature.
Related: Economist who predicted 2008 crypto crash expects a much bigger selloff in Bitcoin
