Retirees Say $824,000 Is Needed to Retire Comfortably -- but Average Just $289,000 in Savings

About 40% of retirees say it takes at least $1 million to retire, and 92% believe people underestimate the cost of a comfortable retirement.

ST. LOUIS, Jan. 13, 2026 /PRNewswire/ -- The typical American retiree currently has just $288,700 in savings but believes $823,800 is needed to retire comfortably in 2026, according to a new report from Clever Real Estate, a St. Louis-based real estate company.

That estimate has risen sharply from last year, when retirees said an average of $580,310 was enough to retire. Meanwhile, the average retiree's savings is $20,000 less than last year ($308,040), and nearly a third (29%) report having no retirement savings at all.

Nearly two-thirds of retirees (64%) say the U.S. is in a retirement crisis, and fewer than half (41%) believe retirement will be possible for the typical American in 25 years.

The majority of retirees (55%) say they're prioritizing preserving their finances over enjoying retirement, with 67% spending more than they planned on groceries and 60% spending more than expected on insurance.

Nearly half of retirees (48%) aren't confident they can financially sustain their quality-of-life long term, while 23% doubt they can do so even for the next year.

In an effort to save money, 14% of retirees have gone as far as avoiding medical appointments and 12% have skipped meals.

A majority of retirees (51%) have no plan if their savings run out, and 43% say they'd prefer to die than have that happen.

A year into the Trump administration, 55% of retirees say they feel more pessimistic about the U.S. economy, compared to 24% who feel more optimistic.

About 59% say their retirement strategy isn't keeping up with added costs from tariffs, and just 14% say they trust the government to act in their best interest on retirement policy.

Roughly half (49%) of retirees say a significant drop in their home value would impact their long-term financial plan, and 25% aren't confident they'll be able to afford their current housing costs a year from now.

With 90% of retirees feeling that retirement communities are unaffordable, roughly three-quarters (73%) say they'd do everything possible to stay in their home — even if they could barely afford it.

Although 45% of retirees believe their home is the only thing allowing them a comfortable retirement, 73% admit they couldn't afford a home in today's market.

Read the full report at: https://listwithclever.com/research/retirement-statistics

About Clever
Clever Real Estate's content reaches over 10 million readers annually, and its nationwide agent matching service has a 5.0-star Trustpilot rating across 3,800+ customer reviews. Since launching in 2017, Clever has reached $14.9 billion in real estate sold, matched 193,000+ customers with realtors, and saved consumers over $220 million on commission fees. Clever's network spans 18,000 agents across all 50 states.

CONTACT: 
Nicole Lehman
Clever Real Estate
[email protected] 
724-719-0406

SOURCE Clever Real Estate