Survey reveals 33% of U.S. workers hold more credit card debt than retirement savings, undermining $1.2 million target.
U.S. workers now say they need $1.2 million to retire comfortably, up from prior benchmarks, according to a July 2026 survey. Yet 33% of respondents carry more credit card debt than retirement savings, highlighting a growing gap between goals and reality.
The $1.2 million figure marks a rising trend, with other surveys citing even higher targets like $1.46 million. Meanwhile, 51% of workers expect to retire with under $500,000, less than half the stated goal. High credit card APRs near 21% further strain savings, as debt repayment competes with retirement contributions.
Only 30% of workers believe they will reach $1 million in savings, underscoring persistent financial challenges amid inflation and rising costs.