Retirement Insights: $2M Savings Exceeds $1.26M Comfort Benchmark

A 2025 study by Northwestern Mutual indicates that Americans believe $1.26 million is needed for a comfortable retirement. For those with $2 million in savings, applying the 4% rule would yield an annual income of $80,000, which could vary significantly based on lifestyle choices. The study highlights that 49% of millionaires without a financial advisor do not consider tax implications of withdrawals from retirement accounts. This lack of tax planning may lead to a potentially reduced retirement safety net, emphasizing the importance of proper financial advice.