A new survey from Gallup found a widening gap between how retirees feel about their finances and how working Americans expect retirement to look for them.
More than four in five retirees (82%) said they have enough money to live comfortably, while just 45% of nonretirees expect they will be financially comfortable once they stop working.
The 37-point gap is now one of the largest recorded in Gallup’s long-running retirement tracking.
Retirement Anxiety Remains High
Nearly seven in 10 nonretirees said they are worried about not having enough money in retirement.
Concern was highest among lower-income workers, though anxiety stretched across most demographic groups. Even among workers with retirement savings plans, a majority still said they worry about retirement finances.
Retirees reported significantly lower levels of concern about outliving their savings.
Workers Expect to Rely Less on Social Security
The survey also found major differences between how retirees actually fund retirement and how younger workers expect to fund theirs.
Current retirees overwhelmingly rely on Social Security as a major income source. Nonretirees, however, are placing more emphasis on 401(k)s, IRAs, personal savings, and continued work later in life.
About one in five nonretirees expect part-time work to become a major source of retirement income, despite only a small percentage of current retirees relying on it today.
Americans Expect to Work Longer
Nearly 60% of employed Americans said they plan to continue working part time during retirement.
On average, nonretirees expect to retire at age 66, several years later than the average retirement age reported by current retirees.
The findings highlight a growing future-of-work challenge as more workers anticipate longer careers, delayed retirement, and greater dependence on personal savings to maintain financial stability later in life.
