The survey highlighted variations in generational perceptions of required retirement wealth. Gen Z and millennials anticipated needing over $1.6 million, followed closely by Gen X. Baby boomers, closest to retirement, set the lowest bar at $990,000, possibly due to familiarity with spending habits and realistic expectations. This generational disparity aligns with Larry Fink's call to reform the US retirement system, noting the shift from defined benefits to defined contributions has introduced income uncertainty in retirement planning.

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