A worker earning the median salary of $64,220 would need about $1.03 million for a 20-year retirement, nearly double what Americans expect to have saved.
ST. LOUIS, July 7, 2026 /PRNewswire/ — American workers expect to retire with just $515,000, roughly half of the million-plus figure financial experts recommend, according to a new report from Clever Real Estate, a St. Louis-based real estate company.
The typical worker currently has just $210,000 set aside, and nearly two-thirds (65%) know they are already behind.
As a result, 54% of working Americans worry they will outlive their savings, and 81% are concerned they won’t be able to retire when they want to. In fact, nearly 1 in 10 workers (9%) don’t think they will ever be able to retire.
Many Americans are saving less than they did in previous years. More than a third of workers (38%) have reduced their retirement contributions in the past 12 months, including 46% of Gen Z and 42% of millennials.
Nearly 1 in 5 workers (18%) have never saved for retirement at all, citing high living costs (48%) and low income (38%) as the most common reasons.
Social Security offers little reassurance, with 66% of working Americans saying they’re worried it will run out before they retire. Still, 63% plan to rely on it.
The vast majority of workers (86%) have regrets about their retirement savings, most often starting to save too late (35%). Nearly two-thirds (63%) didn’t begin saving until they were at least 30 years old, and 31% didn’t start until they were 40 or older.
Although 31% of working Americans wish they’d contributed more to their retirement savings throughout their career, nearly half (42%) don’t think their income is high enough to adequately save.
Notably, 89% of homeowners are currently saving for retirement, while just 63% of non-homeowners are doing the same. Working homeowners have $285,000 saved, six times more than non-homeowners ($45,000), and they expect to retire with $600,000 in total savings, compared to $170,000 for non-homeowners.
More than half of homeowners (58%) plan to use their home to fund retirement. However, 87% say housing costs hurt their ability to save, led by property taxes (49%), home insurance (43%), and utilities (40%).
Most workers (83%) worry they’ll have to lower their standard of living in retirement, yet the majority won’t give up current spending on subscription services (69%), travel (67%), and nonessential shopping (65%), even if it would help them retire more comfortably.
Read the full report at: https://listwithclever.com/research/saving-for-retirement/
About Clever Real Estate
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 4,279+ customer reviews. Since launching in 2017, Clever has reached over $16.3 billion in real estate sold, matched over 235,000 customers with realtors, and saved consumers over $240 million on commission fees. Clever’s network spans over 13,000 agents across all 50 states.
CONTACT:
Nicole Lehman
Clever Real Estate
418175@email4pr.com
724-719-0406
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SOURCE Clever Real Estate
