A retirement savings balance tells you where you are today. What you do next can help shape where you go from here.
In “2026 Reality Check: The Median Millennial Retirement Balance Is Just $47K — Here’s What It Takes To Hit $1M by 65,” featured in AOL, journalist Nicole Spector explores how millennials can build their retirement savings through consistent contributions and long-term investing. The article examines how the time remaining until retirement affects the savings needed to work toward a $1 million goal.
Steven Rogé, our Chief Investment Officer and CEO, contributed realistic ways to make saving a regular, growing habit. He highlighted a 15% savings rate as a meaningful target that can help people build momentum, particularly when they need to make up for lost time. He also discussed automatic contribution increases, often called auto-escalation. When available through an employer’s retirement plan, this feature can raise the contribution rate by one percentage point each year. Those gradual increases can make it easier to save more over time without requiring a large adjustment all at once.
His perspective brings the discussion back to manageable actions: establish a consistent savings habit and build on it each year. While retirement needs vary from person to person, those steps can help turn a distant goal into something millennials are actively working toward.
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R.W. Rogé & Company, Inc. is an independent, fee-only financial planning and investment management firm serving clients locally and virtually across the country, with Long Island, New York, and Beverly, Massachusetts office locations. R.W. Rogé & Company, Inc. was founded on a “client first” culture and proudly commits to acting in your best interest as a fiduciary. We have helped clients Plan, Achieve, and Live® the life they want since 1986. To learn more about how we do this, as well as our process, explore our detailed overview of services and approach.
