The new magic number for retirement is $1.46 million. Here’s what it tells us.

It would take $1.46 million to retire comfortably, according to a recent survey of 4,588 adults released Tuesday by financial-services company Northwestern Mutual..

And over $1 million more than the average survey participants nest egg. . The rising magic number reveals more about retirement anxiety than retirement planning, said Teresa Ghilarducci, an economist at the New School for Social Research in New York City..

Retirees with little financial background have to figure out how to make their nest eggs last for as long as several decades, a task BlackRock Chief Executive Larry Fink called an impossible math problem" in an annual letter to shareholders last week that raised alarms about a retirement crisis..

The actual size of the nest egg you need depends on factors including your income, marital status, expected longevity, where you plan to live in retirement, and whether you want to leave money to heirs, Rupprecht said..

By the time older millennials, around 37 to 41, now earning a median salary reach retirement, Vanguard estimates they will be able to replace almost 60% of their income with Social Security and savings from sources including their 401(k)s and individual retirement accounts..