According to the EBRI/Greenwald 2026 Retirement Confidence Survey, only 61% of workers and 73% of retirees now feel confident they’ll have enough money for a comfortable retirement — the lowest levels in nearly a decade. Rising health care costs, debt, housing prices, and growing worry over the future of Social Security and Medicare are the biggest drivers behind the decline.
If you’ve been feeling less certain about your own retirement outlook, the data suggests you’re far from alone. Here’s what the latest retirement market concerns research shows, and how to respond to it.
Retirement Confidence Has Fallen to Its Lowest Point in Years
The Retirement Confidence Survey — now in its 36th year and the longest-running study of its kind — is conducted jointly by the Employee Benefit Research Institute (EBRI) and Greenwald Research. The 2026 edition, based on responses collected in January 2026, found a notable pullback in optimism:
- 64% of Americans overall said they feel confident they’ll have enough money to live comfortably in retirement.
- Worker confidence fell to 61%, down 6 percentage points from 67% in 2025 — the lowest reading since 2017.
- Retiree confidence fell to 73%, down 5 percentage points from 78% in 2025 — the lowest reading since 2015.
- Only about 21% of workers described themselves as very confident, rather than just somewhat confident.
As in past years, retirees remained more confident than current workers — a consistent pattern in the survey’s history — but both groups saw meaningful declines this year.
What’s Driving Renewed Retirement Savings Challenges
The 2026 survey points to a mix of near-term financial pressure and longer-term structural worry:
- Rising health care costs are one of the top-cited pressures for both workers and retirees.
- Mounting household debt is squeezing the amount people are able to set aside for savings.
- Elevated housing costs continue to strain budgets for both groups.
- Concerns about the future of Social Security and Medicare are especially pronounced: roughly 7 in 10 retirees and 4 in 5 workers said they’re worried the government will make significant changes to the retirement system.
- The share of workers actively saving for retirement dropped to 59%, down from 64% the year before.
The Gap Between Retirement Expectations and Reality
Beyond confidence levels, the 2026 survey highlights a persistent disconnect between what workers expect and what retirees actually experience:
- Workers expect to retire at a median age of 65, but retirees actually retired at a median age of 62 — and nearly half left the workforce earlier than they had planned, often due to health issues, layoffs, or caregiving needs.
- Americans estimate it takes roughly $1.46 million to retire comfortably, yet the median 401(k) balance is around $44,000 — underscoring why so many workers feel underprepared.
- Confidence remains strongly tied to plan participation: workers with money in a defined contribution plan, defined benefit plan, or IRA are far more likely to feel at least somewhat confident about retirement than those without any retirement plan.
What Workers Actually Want From Their Retirement Plans
Despite lower overall confidence, the survey found a genuine bright spot: most workers with access to a workplace retirement plan are satisfied with it. Still, when asked what would improve their plans, workers pointed to a few consistent priorities:
- More fund or investment options — cited by 37% of workers as the most valuable improvement
- Guaranteed lifetime income options after retirement — cited by 35%, reflecting growing interest in managing retirement income predictably rather than relying solely on a lump sum
- Clearer guidance on whether they’re on track, and how much income their savings will actually produce in retirement
Roughly 22% of workers said they would prefer to use retirement savings to purchase a product that guarantees monthly income for life — a meaningful share, though most workers still favor rolling savings into an IRA or keeping funds in their employer’s plan.
Retirement Income Strategies Worth Considering
Given these pressures, a few retirement income strategies can help offset growing uncertainty:
- Diversify income sources. Relying on a single source, like Social Security alone, leaves less room to absorb rising costs.
- Stress-test your plan against inflation and health care cost growth, not just market returns.
- Revisit your retirement age assumptions. Since many retirees leave the workforce earlier than planned, it’s worth building a plan that holds up even if retirement comes sooner than expected.
- Explore guaranteed income options if predictable monthly income would ease your own retirement planning concerns.
What This Means for Your Retirement Plan
For financial planning for retirement in an environment of declining national confidence, having a personalized plan — rather than relying on general assumptions — matters more than ever. For retirees and pre-retirees across Fort Myers and Southwest Florida, where cost-of-living pressures like housing and health care carry particular weight, a plan built around your specific income sources, spending needs, and Social Security timing can provide more retirement security than following broad national trends alone.
Frequently Asked Questions
Why did retirement confidence decline in 2026?
Rising health care costs, household debt, high housing prices, and growing concern about potential changes to Social Security and Medicare all contributed to declining confidence among both workers and retirees.
What percentage of Americans feel confident about retirement in 2026?
64% of Americans overall feel confident they’ll have enough money for a comfortable retirement, though this varies: 61% of workers and 73% of retirees reported feeling confident.
How does having a retirement plan affect confidence?
Workers with money in a workplace retirement plan or IRA are significantly more likely to feel confident about retirement than those without any retirement savings vehicle.
What retirement income strategy do most workers prefer?
Most workers prefer rolling savings into an IRA or keeping funds in their workplace plan, though a growing share — about 22% — are interested in products that guarantee monthly income for life.
Why do many people retire earlier than planned?
Nearly half of retirees left the workforce before their planned retirement age, often due to health issues, job loss, or the need to provide caregiving for a family member.
This article is for informational purposes only and does not constitute financial advice. Consult a qualified financial planning professional regarding your specific retirement strategy.
