Larry Fink has a blunt message for Americans: you haven’t saved enough to retire comfortably, the billionaire BlackRock CEO wrote in his 2025 annual shareholders letter.
BlackRock, the world’s largest asset management firm with $14 trillion in assets under management, surveyed 1,000 registered voters, asking how much they’d need to retire comfortably, and the average response was roughly $2.1 million.
“That’s a lot. More than I was expecting,” Fink wrote. And “almost no one is close,” considering 62% of those surveyed had less than $150,000 saved for retirement. That figure is only about 7% of what they think they need to retire comfortably.
Fink, 73, has long warned about America’s retirement crisis, with one of his other main arguments being the security system will fail because life expectancy is rising. Plus, retirement and needing senior care gets expensive.
“When you’re retired, you’re basically living on a fixed income,” Rita Choula, senior director of caregiving with the AARP Public Policy Institute, previously told Fortune. “If you have not factored in an additional $7,000, $8,000, $9,000 a year for your fixed income, that can have a big impact.”
