Americans say they need $1.2 million to retire. Most are too deep in debt to get there.

With the projected retirement nest egg of $1.2 million, many Americans are anxious about their financial future as they struggle with significant debt. Over 80% of them are concerned about running out of money during retirement, often feeling sleepless over it. This widespread anxiety stems from the fact that most are burdened with debt that makes saving such a large sum nearly impossible. This financial stress highlights a critical issue in retirement planning, underscoring the need for better financial education and strategies to help people achieve a secure retirement.