InvestmentNews reported on October 30 that a new HSBC survey puts the retirement savings target for affluent Americans at $2.6 million. The outlet said these investors have saved only about half of what they say they need, a gap it framed as one for advisors to address.
According to the HSBC research, conducted by Ipsos, the US target is up 26% from a year earlier. The survey covered 9,993 affluent and high-net-worth investors across 10 markets, aged 21 to 69. Affluent respondents were required to have at least $100,000 in investable assets, and high-net-worth respondents at least $2 million. Fieldwork ran online from January 6 to February 6, 2026, with Ipsos Asia Limited working on HSBC's behalf. The release was datelined New York, October 21, 2026, and distributed via Business Wire.
US respondents have saved 52% of their goal on average, according to HSBC. Baby boomers have saved 74%, Gen X 55%, Gen Z 45% and Millennials 42%. InvestmentNews calculated a shortfall of roughly $1.25 million from the $2.6 million target and the 52% saved figure. That calculation is the outlet's own and does not appear in HSBC's release.
A separate HSBC release, also dated October 21, 2026 and issued from London, gave a global view: across the 10 markets, the perceived cost of retirement is US$1.26 million, and investors hold 49% of that amount on average. That figure was up 20% from a year earlier. The global numbers are not the same measure as the US figures and should not be compared directly with them.
Racquel Oden, US Head of International Wealth and Premier Banking at HSBC, said in the release that a comfortable retirement is becoming more expensive, even for wealthy households. InvestmentNews also reported that 64% of American respondents who have not yet retired plan to leave work in stages or on a flexible timetable. The same report said 76% of US respondents want expert guidance and 75% want flexible wealth products.
For context, InvestmentNews cited a Northwestern Mutual estimate of $2.67 million on average for Americans with more than $1 million in investable assets. HSBC also released a multi-retirements study in September 2025, in which 37% of US respondents said they planned to take a mini retirement lasting six to 12 months. The September 2025 study had a sample of over 10,000 affluent adults in 12 markets, which means its results cannot be compared head to head with the 2026 survey.
HSBC is one of the world's largest banking and financial services organisations, founded in 1865. Its holding company, HSBC Holdings plc, is headquartered in London and listed in London, Hong Kong and New York. The group says it serves around 41 million customers in 56 countries and territories. The retirement figures are results from HSBC's own survey, and the sources reviewed do not describe any follow-up research or policy changes planned in response.