Retirement Savers Confront $1.28 Million Goal and Fear Missing It by Saving Only $500K

fcafotodigital / Getty Images “Forget what the average American needs as their goal and determine what your goal needs to be,” said Lawrence Sprung, a Hauppauge, New York-based chartered financial planner. Key Takeaways According to a new survey, Americans think they'll need $1.28 million to retire comfortably, yet about half will struggle to reach $500,000. You shouldn't get caught up in what others think they need. Set your own target based on your own situation. Financial planners advise people wh ...