Skip to navigationSkip to main contentSkip to right columnADVERTISEMENTMoneywiseSun, July 5, 2026 at 4:10 PM GMT+2 9 min readUlza/ ShutterstockMoneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below.If you have $2 million in retirement savings, congratulations. That's well above the $1.26 million that Americans believe is needed to retire comfortably, according to a 2025 Northwestern Mutual study (1).At this point, you have probably overcome the challenge of saving enough. Now, your next mission is wealth preservation. Higher taxes and the wrong lifestyle choices can quickly erode what seems like a huge treasure trove.Top PicksDave Ramsey warns nearly 50% of Americans are making 1 big Social Security mistake —