Retirement should be a time for freedom, fulfillment, and enjoying life's milestones—but for many Americans, it has become an overwhelming source of stress. With longer lifespans and soaring living costs, the dream of retiring in your 60s is becoming harder to achieve. And while some people may enjoy working, very few want to do it forever.

Whether your retirement goals include travel, family time, or simply living comfortably, a solid plan is key. And for many, that plan extends beyond personal comfort to include ensuring their loved ones are also taken care of. Unfortunately, many Americans have little to no retirement savings. What's more, those savings can be vulnerable to lawsuits, medical bills, or creditor claims.

That's where strategic planning—rooted in savings, protection, and legacy-building—becomes essential.

How Much Do You Actually Need?

People are stressed about money, and rightfully so. According to Northwestern Mutual's 2025 study, the average American believes they'll need $1.26 million to retire comfortably. The problem? Most are nowhere near that target. Over half fear they'll outlive their savings, and most live with constant financial worry.

A review of eight major retirement surveys found anxiety levels ranging from 32% to 71%. Meanwhile, a 2024 AARP report revealed that 1 in 5 adults aged 50+ have zero saved for retirement. And per Allianz Life, fewer than half of Americans have a concrete financial retirement plan.

So, what's the magic number for you? That depends on your lifestyle, where you live, your health, and when you want to retire. General rules like the 80% rule (replace 80% of your annual pre-retirement income) or Fidelity's age-based multiples (e.g., save 6x your salary by age 50) can help guide you—but a personalized plan from your advisor is better than any one-size-fits-all rule.

Protecting What You've Saved

Not saving enough can make you dangerously dependent on Social Security—which was never meant to be your full retirement income. On average, Social Security covers just 40% of what you earned before retiring. That leaves a big gap that your own savings and investments need to fill.

But saving is just part of the puzzle. You also need to protect what you've built.

Some retirement accounts already offer strong asset protection. For example:

• 401(k)s and other plans covered by the Employee Retirement Income Security Act (ERISA) generally enjoy broad protection from creditors and lawsuits.

• IRAs offer varying levels of protection, depending on your state and whether they're inherited or not.

• Having the right trust structures or other planning vehicles in place can help shield your nest egg from unexpected legal and financial threats.

Your advisor can help you build a retirement strategy that protects your assets, adapts to your changing goals, and gives you the peace of mind to enjoy the future you're working so hard to create.

Book a Peace of Mind Planning Session