The Blubber

Northwestern Mutual’s 2025 Planning and Progress Survey reveals how much people across generations have saved for retirement—among those who have savings at all. And based on those savings levels, it’s clear that many are behind:

• Millennials (ages 29–44): 22% have saved less than their annual income, and only 45% have saved three times their income or more. That means at least one in five millennials is significantly behind, and many older millennials are well off track when it comes to retirement goals.
• Gen Xers (ages 45–60): Just 26% have six times their income saved—the benchmark often recommended at that age. Nearly three-quarters of Gen X may be falling short of that target.
• Boomers (ages 60–67): Only 28% have saved at least 10 times their final salary, which is typically advised by retirement age.

These numbers reflect only those who do have retirement savings. Given that an estimated 25% to 35% of adults have saved nothing at all, the overall picture is likely worse.

Falling behind? There’s still time to catch up.
If your savings aren’t where they should be, you’re not alone—but you can take steps now to get on track. Set a clear retirement goal based on your timeline, and automate your contributions to ensure you’re moving toward it steadily.

It might mean reducing other expenses and increasing your savings rate gradually, but investing consistently is critical—Social Security alone likely won’t be enough. The earlier you begin, the more manageable the process becomes. Start building your future today.

A hidden Social Security bonus many miss
Most people underestimate how much more they could receive from Social Security with a few smart moves. One little-known strategy could boost your benefits by as much as $22,924 a year.

Learning how to optimize your benefits could mean a more comfortable retirement, with the peace of mind you’ve been hoping for. Consider exploring your options now to make the most of what you’ve earned.