8% no retirement plans, 61% dont know how much theyll need

8% no retirement plans, 61% dont know how much theyll need8% no retirement plans, 61% dont know how much theyll needWhile research has found that 21% of American adults have nothing saved for retirement, new findings show that the Golden Years arent in the cards for everyone, and many arent even sure how much theyll need to get there.A new survey from Bankrate showed that 61% of Americans dont know how much money theyll need for retirement, while 8% of Americans dont plan to retire at all.How much cash Americans think theyll need for retirementThe research shows that a large majority people have no idea$250,000 or less 8%$250,000- $1 million 15%More than $1 million 8%Dont know 61%Never plan to retire 8%Bankrate noted that because of rounding, the total isnt 100%, and that less than 1% refused to answer the question.How people learn about retirementAlmost half of the respondents seemingly get their retirement advice from unusual placesPersonal financial adviser 26%Family member or fri end 21%Online retirement calculator 11%Bank or financial institution 10%Expert commentary/article 8%Robo-adviser 1%None of these 46%Bankrate noted that participants could choose multiple options, and that 2% refused to answer.Saving for retirement The age breakdownBaby Boomers and members of the Silent Generation think theyll need the same amount of cash to retire. These are the median values they gaveMillennials $800,000Generation X $1 millionBaby Boomers $500,000Silent Generation $500,000How much people think Social Security will entdeckung their retirementMost Americans think Social Security will be a help to themAll of retirement 6%Most of it 11%About half 20%A little 46%None 15%Wherever you stand on these data points, youll eventually have to decide whether or not you plan on retiring from the workforce and plan accordingly. Just dont make that decision too late.