Meanwhile, People in their 30s might not be close to their retirement savings goals yet, but they still have plenty of time to catch up.
On average, Americans believe they’ll need about $1.46 million to retire comfortably, according to Northwestern Mutual’s “2024 Planning and Progress” study. For millennials, most of whom are in their 30s, that number is slightly higher at around $1.6 million.
However, many people in their 30s have saved far less than this.
The median 401(k) balance for