Dr. Gleb Tsipursky – The Office Whisperer
Nirit Cohen – WorkFutures
Angela Howard – Culture Expert
Drew Jones – Design & Innovation
Jonathan Price – CRE & Flex Expert
For decades, retirement has been framed as the payoff for a lifetime of work. But new Clever survey data of 1,000 U.S. retirees suggests that for many Americans, that promise is breaking down — reshaping how long people work, how they retire, and whether they retire at all.
There is a widening gap between what Americans believe is required to retire comfortably and what most workers actually manage to save before leaving the workforce. Rising costs, delayed saving, and heavier reliance on Social Security are leaving many retirees financially exposed — and increasingly pessimistic about the future.
The Retirement Math No Longer Works
Retirees now believe a worker needs an average of $823,800 in savings and investments to retire comfortably in 2026 — up nearly $250,000 from what retirees thought was sufficient just a year earlier.
The reality is starkly different. The average retiree reports having $288,700 saved — barely one-third of the amount they believe is necessary. Fewer than one in four had even $500,000 saved when they stopped working, and nearly 30% retired with no savings at all.
This mismatch helps explain why 64% of retirees say the U.S. is facing a retirement crisis, and why confidence in long-term financial stability has dropped sharply year over year.
Saving Started Too Late for Most Workers
The data highlights a structural problem rooted in working years, not retirement itself. A majority of retirees did not begin saving until after age 30, and nearly one-third didn’t start until after 40 or later — missing decades of compound growth.
Most retirees say they underestimated how much retirement would cost, with 92% believing Americans broadly misunderstand the true price of retiring. More than half now say they simply didn’t save enough while working, often because of low wages, paycheck-to-paycheck living, or overreliance on Social Security.
Retirement Is Becoming Financially Fragile
Once retired, many Americans are struggling to stay afloat. Nearly half report difficulty paying at least some expenses, particularly groceries, utilities, insurance, and medical costs. A quarter are not confident they can afford their housing costs a year from now.
Cost pressures are forcing hard tradeoffs. Some retirees report skipping meals or delaying medical care to preserve savings. More than half prioritize protecting their finances over enjoying retirement at all.
Confidence is deteriorating quickly. Nearly half of retirees are not confident they can sustain their current quality of life for the rest of their lives — a sharp increase from last year.
More Retirees Consider Returning to Work
As financial pressure mounts, retirement is becoming less final. Nearly one in three retirees say they have considered returning to work, either part-time or full-time, to supplement income or slow the drawdown of savings.
This trend reflects how heavily retirees depend on Social Security. About 90% receive benefits, and for nearly one-quarter, Social Security is their only income source. On average, it makes up more than half of retiree income.
At the same time, more than half of retirees doubt Social Security will continue paying full benefits for the rest of their lives, fueling uncertainty and anxiety among older workers and retirees alike.
Early Retirement Comes With Lasting Costs
Most retirees stopped working earlier than planned, often before full retirement age. As a result, many permanently reduced their monthly Social Security benefits. Nearly one-third believe they claimed benefits too early — a decision they now regret as costs rise faster than expected.
Half of retirees now say it is not a good time to retire, sending a warning signal to late-career workers weighing when — or whether — to exit the labor force.
Gender Gaps Follow Workers Into Retirement
Financial inequality during working years carries directly into retirement. Women retirees report nearly $70,000 less in savings than men on average and are more likely to feel unprepared for emergencies or economic downturns.
Women are also more likely to report delayed saving, lower confidence, and greater reliance on fixed benefits — underscoring how wage gaps and caregiving interruptions compound over a lifetime.
A Workforce Warning, Not Just a Retirement Problem
While framed as a retirement issue, the data points to deeper labor-market challenges: stagnant wages, late access to retirement plans, rising living costs, and growing dependence on public benefits.
With confidence falling, savings short, and costs rising, retirement is increasingly less a reward for work than a financial cliff — one that many Americans now approach cautiously, delay entirely, or prepare to step back from after they’ve already retired.
