Planning for retirement is difficult, especially when you don’t know how much you’ll actually need. In the United States, the average retirement age is 62, and the average amount you’ll need to retire comfortably is $1.26 million, according to a Northwestern Mutual 2025 study. Keeping in mind that this age and amount will vary depending on each person’s situation, it’s hard for someone who is currently 37 to predict how much they’ll need to save to retire in 2050.
To get an idea of what the future of retirement might look like, I turned to ChatGPT and asked: How much will it cost to retire in 25 years? Its answer: $2.6 million or more.
