President Donald Trump signed an executive order on May 1 to expand retirement account access for workers who do not have retirement plans through their jobs, and told supporters that young savers who build up $465,000 by age 65 would be wealthy. [1]
Trump said the figure would mean, in his words, that they would be rich. Financial advisers pushed back, saying inflation and longer lifespans make that sum far less impressive in retirement than Trump suggested. Barry Glassman, a certified financial planner, said that while $465,000 could be a healthy retirement sum, it would be worth less than $200,000 in today’s dollars after 30 years of 3% inflation and would not make someone rich. Winnie Sun, co-founder and managing director of Sun Group Wealth Partners, said the lump sum looks more like a “modest paycheck” once converted into retirement income. [1]
The order comes as about 56 million Americans lack access to workplace retirement plans. Trump’s administration said the Treasury Department must launch TrumpIRA.gov by Jan. 1, 2027, to connect workers to low-cost individual retirement accounts. [1]
The debate also comes against the backdrop of ordinary savings levels that fall far below Trump’s benchmark. The average 401(k) balance at the end of 2025 was about $168,000, while the median was around $44,000. The average IRA balance was about $137,000, according to Fidelity Investments. Using the 4% withdrawal rule, a $465,000 nest egg would produce roughly $18,600 a year at the start of retirement. [1]
