Retirement experts suggest saving $1-1.5 million, but BlackRock’s survey shows Americans think they need over $2 million. Even Gen-Xers are falling short, with 62% saving less than $150,000. Fink explains the shortfall is due to investing differences, with pensions typically outperforming 401(k)s by 0.5% annually, resulting in 14.5% more money over 40 years.

Investing in private assets like infrastructure can significantly boost retirement savings. Fink notes that private assets have historically outperformed traditional investments, providing extra years of retirement. However, many plan providers are still unfamiliar with including private assets in 401(k) plans, limiting their accessibility to investors.

Read more at Yahoo Finance: Billionaire BlackRock CEO Larry Fink Says ‘Almost No One Is Close’ To Saving The Nearly $2.1M Americans Claim They Need For A Comfortable Retirement