Fewer than two-thirds of Americans are confident they have enough money to live comfortably throughout retirement.
"Retirement confidence has clearly softened this year, and the data show why," said Craig Copeland, director of wealth benefits research at EBRI. "Americans are contending with a mix of immediate financial pressures and long-term uncertainty. Many workers are struggling with debt, inflation and rising housing and health care costs, while retirees are increasingly worried about the future of Social Security and Medicare. Together, those pressures are making it harder for people to feel secure about their retirement."
EBRI's 2026 Retirement Confidence Surve found that retirement confidence declined among both workers and retirees, while worries about inflation, debt, health care costs, housing expenses and possible changes to the retirement system added to financial anxiety. Among the highlights of the survey:
- Concern about changes to the retirement system remains high. Seven in 10 retirees and 4 in 5 workers are concerned that the government will make changes to the retirement system. Confidence in the future value of Social Security and Medicare benefits also declined.
- Financial well-being weakened, and emergency readiness slipped. Fewer than 2 in 5 workers and half of retirees rated their household financial wellbeing as at least very good.
- Debt remains a major obstacle, especially for workers. Two-thirds of workers said debt is a problem for their household, and one-quarter described it as a major problem. Half of workers have credit card debt, and nearly one-third have more than $25,000 in non-mortgage debt.
- Health care costs continue to strain Americans before and during retirement. Nearly 6 in 10 workers said the cost of health care is hurting their ability to save for retirement, while 2 in 5 retirees said health care expenses in retirement have been higher than expected.
- Housing costs are another growing source of pressure. Seven in 10 workers and half of retirees are concerned that rising housing costs will affect their retirement.
- Workers increasingly expect to retire later and keep working in retirement. Although the median expected retirement age for workers remained 65, a growing share said they don't plan to retire. Nearly one-quarter of workers adjusted their target retirement age in 2025, with most moving it later.
- Many Americans still don't know where to turn for retirement guidance. More than 2 in 5 workers and one-quarter of retirees said they don't know where to go for financial or retirement planning advice.
- Workers show strong interest in guaranteed income options. More than four in five workers expressed interest in purchasing a guaranteed monthly income product with retirement savings. Two-thirds said they are interested in a Social Security bridge annuity that would provide income until age 70.
- Retirees say life in retirement is generally good but not without strain. Although a majority of retirees described their standard of living as at least good, fewer than half rated it as excellent or very good. Two in five said their overall expenditures in retirement have been higher than expected.
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