Nearly half of working Americans doubt they will ever be able to fully retire, according to a new survey. Retirement fears are running high, as evidenced by the 2026 Retirement Expectations Survey from Thrivent, which reveals that 47% of workers doubt they will be able to retire completely. Furthermore, only 58% of workers believe they will have sufficient funds to retire on their original schedule, while 36% expect to continue earning income well into their retirement years.
The survey, conducted by Ipsos in June, reached more than 2,000 American adults and highlights a pervasive sense of financial instability. “People are looking at retirement more as a transition than a finish line,” said Jason Rogoff, a financial adviser at Thrivent. He added, “We’re seeing people look at retirement just a little bit differently than they have in the past.”
These findings illustrate a broader lack of retirement confidence among employees in an era where Americans are expected to manage their own retirement savings, primarily through 401(k)s and IRAs. This anxiety is compounded by concerns over inflation, potential Social Security shortfalls, geopolitical conflicts, and the economic disruption posed by artificial intelligence. More than half of the surveyed workers fear these factors will negatively impact their retirement prospects.
Robert Brokamp, a senior retirement adviser at The Motley Fool, emphasizes the complexity of the situation. “Retirement is a big math problem,” Brokamp said. “And you either have to have a really good tool or a really good expert who can help you nail down the numbers.” He noted that more than a third of workers feel they are behind their peers in savings, and half report that simply thinking about retirement causes them anxiety.
When asked about the amount required for a comfortable retirement, only 23% of respondents suggested a figure under $1 million. While some surveys suggest a “magic number” of $1.2 million or higher, most Americans have nowhere near that much saved. Federal data indicates that only about half of Americans hold retirement accounts at all, highlighting a stark divide in financial preparedness.
Retirement saving remains significantly easier for the wealthy. According to the 2022 Survey of Consumer Finances, more than 90% of individuals in the top 10% by net worth maintain retirement accounts, with a median balance of $900,000. “We’ve all heard of the K-shaped economy,” Brokamp observed. “And I think there’s a K-shaped retirement trajectory.”
This disparity drives many to assume they will work indefinitely. While roughly three-quarters of workers plan to work for pay after retirement, according to the 2026 Retirement Confidence Survey from the Employee Benefit Research Institute, only 31% of actual retirees are currently working. Many find that returning to the workforce is difficult, and they eventually adjust to living on Social Security and modest savings.
To address these gaps, experts suggest consistent, small contributions. “We always say that it’s really important to put something away, to have some consistency, even if it’s a little bit,” Rogoff said. Even small amounts can compound significantly over time; for instance, a $1,000 contribution can grow into $15,000 over 27 years based on historical market performance.
A common rule of thumb is to save 10% to 15% of your salary in a retirement account, ideally invested in broad index funds. However, a comprehensive plan must account for various scenarios, including life expectancy and market volatility. “It’s very important to have a plan in place and one that’s adjustable based on the economy,” Rogoff stated.
For those who cannot afford a human financial adviser, Brokamp suggests using online retirement planners provided by firms like Thrivent, AARP, Fidelity, Charles Schwab, or Vanguard. These tools can help navigate the complex decision-making process that begins once a person stops working.
“You have so many decisions to make when you retire that you didn’t make when you were working,” Brokamp explained. “When you work, you’re just saving.” He also noted that building an emergency fund is a critical component of any retirement strategy, as it protects against the financial shocks that often derail long-term savings goals.
In a 2025 report, Investopedia estimated that the average U.S. family should maintain at least $35,000 in emergency savings to provide a buffer against unexpected costs. By combining consistent contributions with a flexible, well-researched plan, workers can better navigate the transition into their later years despite the prevailing economic uncertainties.
“The average person doesn’t know what ‘enough’ is,” Brokamp said.
Yet only 31% of retirees are actually working, the same survey found.
Saving for retirement does not require elaborate planning.
The goal is to set aside enough money to cover three to six months of expenses.
And that money should be in an accessible account, not a tax-sheltered retirement account, where early withdrawals can incur penalties.
