CEO of The World’s Largest Investment Firm Managing $14 Trillion Says You Haven’t Saved Enough for Retirement: ‘No One Is Close’

Entrepreneur

by Sherin Shibu

February 19, 2026

AI-Generated Deep Dive Summary

Larry Fink, CEO of BlackRock—the world’s largest investment firm managing $14 trillion in assets—has issued a stark warning: Americans are nowhere near prepared for retirement. According to a recent BlackRock survey of 1,000 registered voters, most respondents believe they need about $2.1 million to retire comfortably. However, only 62% have saved less than $150,000, which is roughly 7% of the amount they think they’ll need. Fink emphasizes that this gap between savings and required amounts highlights a critical problem: “almost no one is close” to being financially ready for retirement. The survey reveals alarming statistics about American’s financial readiness. While the average respondent believes $2.1 million is needed for a comfortable retirement, only 62% have less than $150,000 saved. This disparity underscores a widespread lack of preparedness. Fink’s warning aligns with guidelines from Fidelity Investments, which suggests that individuals should aim to save at least six times their annual salary by age 50 and ten times their salary by retirement age. These benchmarks are far from being met by most Americans. For those in the startup ecosystem, this issue matters because it directly impacts economic stability and consumer behavior. Insufficient savings can lead to delayed retirements, reduced spending among older adults, and increased reliance on government programs, which could strain public resources and affect broader economic conditions. Startups relying on a strong middle-class consumer base must be aware of these trends, as they may influence market dynamics and investment opportunities in the long term.

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Originally published on Entrepreneur on 2/19/2026