US retirees think you need $830,000 for retirement – are you ready? Three tips to get your nest egg in shape

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A solid financial plan is the key to a comfortable retirement, but are you sure you have enough squirreled away for retirement?

A 2025 survey by Clever Real Estate asked 100,000 retired Americans how much they believe new retirees need to invest and save to live comfortably in retirement – and the answer was “hitting” $823,800 (1).

For some opinions, in 2024, Clever Real Estate did the same study, but the respondents thought that they would only need $580,310 (2).

The change in perspective is $243,490 – in just one year.

A dramatic change like that shows that America’s retirees are clearly worried about their future prospects. In fact, 92% of retirees in the study said the average person has an estimate of how much money is needed to retire safely.

That level of agreement is rare in the survey world. But are they right to think that they will retire unprepared?

Here’s why it’s important to have a retirement plan — and tips on how to start creating one today.

Before you start, it is important to know that their destruction by darkness does not come from nowhere. It is based on experience.

That’s because more than half (51%) of retirees surveyed by Clever Real Estate said they personally don’t have a plan for when their retirement savings will run out — and 43% said they’d rather die than lose money.

If that’s not enough to motivate you, the numbers support the importance of having a retirement plan. Research from T. Rowe Price found that people with a plan had four times the wealth at retirement compared to those without (3).

So, having a plan pays off. And it’s not just about numbers.

“A lot of retirement planning focuses on asset accumulation – and it’s important,” according to Allianz Life Vice President of Consumer Insights, Kelly LaVigne (4). “But it’s important to understand how those resources will be able to pay for your life after retirement.”

In other words, it’s about peace of mind.

“The retirement income system will help reduce the number of ongoing decisions you need to make,” he added.

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If you’re looking for that peace of mind when it comes to starting a retirement plan, a good first step would be to consult a financial advisor.

A financial advisor can help crunch the numbers and build a strategy that works for you. But hiring an advisor can be a lifelong commitment, one that can make or break your retirement.

That’s why finding reliable trainers is so important.

Now, finding the right advisor is easier than ever with Advisor.com, a platform that connects you with a vetted financial expert near you for free.

Just enter a few details about your finances and goals, and Advisor.com’s AI-powered matching tool will connect you with an expert who best fits your needs based on your unique financial goals and interests.

Once you’ve matched with an advisor, you can schedule a free, no-obligation consultation to discuss your retirement goals and long-term financial plan.

Even with the help of a financial advisor, you may not know how much you need – and you’re not alone.

According to a survey conducted by Allianz Life in 2025, approximately 45% of Americans do not know how much they need to save for retirement (5). They are basically “taking it in” and hoping for the best.

That is why it is important to write things down.

A written financial plan can sharpen your focus and help you define your goals. Once you have that in mind, you can also start deciding how to get there by calculating the monthly or annual savings rate (6).

And yet, despite these benefits, the Transamerica Center for Retirement Studies found that only 29% of workers in America have a written retirement plan (7).

If you’re looking for an edge, then putting your plan into writing might be it.

Knowing how much money you need to save for retirement is another part of the equation. Knowing how much you are spending is another. Improving your financial future often starts with a better budget.

A quick daily check-in on your accounts can show you exactly where your money is going.

An app like Rocket Money can easily flag recurring subscriptions, upcoming bills and unusual charges by pulling in transactions from all your linked accounts.

This can help you reduce unnecessary expenses, and then you can transfer the money you have to your retirement fund. No spreadsheets, no guesswork, no stress. Small steps like this can make a big difference over time.

Rocket Money’s intuitive app offers a variety of free and premium tools. Free features include subscription tracking, bill reminders and budgets, while premium features – such as automatic savings, net worth tracking, customizable dashboards and more – make it easy to stay on top of your retirement contributions and overall financial goals.

Once you have a written plan and budget in place, you may be wondering about how much you can withdraw from your savings to get your golden years.

Nearly half of Americans are in the same boat, with 45% saying they don’t know the best way to get out of their retirement savings, according to Allianz Life. Also, even time-tested methods like the 4% rule are being tested from the likes of investment firms such as Morningstar (8).

And ignorance is not bliss when it comes to retirement savings.

“If you don’t know how you’re going to draw from your retirement assets for income, then you’re not ready for retirement,” says LaVigne.

That’s why it might be a good idea to make sure you’re maxing out your guaranteed income, which for most Americans means Social Security benefits.

According to the Social Security Administration, the average monthly payment is US $2,071, as of January 2026 (9). And while that may seem like a lot, it’s enough for 27% of retirees to rely on it as their only income and more than half of the income of 67% of retirees (10).

Figuring out how much you’ll be getting in benefits can help you plan for your retirement. It also helps to take some time when you apply to start receiving them.

In addition to that, you can seek other benefits, such as Medicare.

If you want to educate yourself about all the benefits available to you in retirement, you may want to consider joining senior-oriented organizations like AARP.

As one of America’s most trusted agencies, they can help you find discounts on everything – from prescription and dental plans to travel, entertainment and insurance.

AARP members get tips that can help you make the most of Social Security, choose the right Medicare plan and file for other government benefits — potentially saving you thousands.

Even better, if you sign up with AARP today and get 25% off your first year.

An emergency fund is a good idea regardless of your age. But it’s especially important for retirees.

That’s one very good reason: the sequence of the risk of return. This refers to a situation where a market decline during retirement forces you to sell assets at low income rates, draining your portfolio to the point where it cannot recover.

Having an emergency fund for 18 to 24 months can help mitigate that risk. If that market pulls back this time, it could help protect your nest egg.

“An emergency fund is your superpower for retirement,” says Patti Black, a financial advisor at Savant Wealth Management in Birmingham, AL (11).

“It protects you from financial problems, taking out expenses like medical or dental emergencies, home or car damage, and family disasters.”

A high-yield account like the Wealthfront Cash Account can be a great place to grow your emergency cash, offering both competitive interest rates and easy access to your money when you need it.

A Wealthfront Cash Account currently offers an outstanding APY of 3.30%, and new customers can earn an additional 0.75% during their first three months up to $150,000 for a total APY of 4.05%. This is more than 10 times the national deposit savings rate, according to the FDIC’s February report.

With no minimum fees or account fees, plus 24/7 withdrawals and free home wire transfers, your money is always available. Additionally, Wealthfront Cash Account balances of up to $8 million are FDIC insured through system banks.

But as you approach retirement, it’s always important to remember that risks still occur after retirement, or even after your death for those left behind.

That’s why other options like life insurance are important.

If you want to make sure your family isn’t hit with unexpected costs after your death, consider signing up for term life insurance from Ethos.

As a licensed third-party insurance administrator, Ethos has partnered with some of the industry’s top insurance carriers, such as Banner Life, TruStage Financial and Ameritas Life Insurance. The platform offers easy and affordable coverage for a fixed period of time – usually between 10 and 30

Ethos gives you the flexibility to choose coverage from $2,000 to $100,000. Premiums start at just $900 per month and are guaranteed throughout the term.

You can get coverage in just 10 minutes online or over the phone, with no medical exams or blood tests required.

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Clever Real Estate (1), (2); T. Rowe Price (3); Allianz Life (4), (5); PFG Hidden Treasures (6); Transamerica Institute (7); Morningstar (8); Social Security Administration (9); Senior Citizens League (10); AARP (11)

This article provides information only and should not be taken as advice. It is provided without warranty of any kind.