2026 Annual Retirement Study key insights

Why retirement security feels elusive for many Americans, plus opportunities for financial professionals

Retirement planning today is no longer just about saving and investing. It’s shaped by a growing set of risks – including inflation, market volatility, rising health care costs, and longevity – leaving many Americans unsure of how to adequately prepare.

The latest insights from the Allianz Center for the Future of Retirement®’s 2026 Annual Retirement Study* show what Americans worry about most, and where confidence breaks down. The study points to clear opportunities for financial professionals to help clients manage risk, prepare for uncertainty, and build strategies for reliable retirement income.

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48% don’t have a written financial plan

Saving for retirement is not the same as planning for retirement. Still, the majority of Americans think that contributing to a retirement account is enough – and don’t know what else they should do to prepare.

Many Americans are saving, but without a documented strategy, they risk falling short of their retirement goals. A written retirement plan, built with the help of a qualified financial professional, can help create structure, accountability, and confidence.

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63% say juggling multiple financial goals makes it hard to prioritize

Most Americans say saving for retirement is one of their top financial priorities. At the same time, the majority say they are not saving as much as they would like. Americans say everyday financial pressures often pull attention elsewhere, making it harder to stay focused on the future.

What competes for attention:

  • Daily expenses
  • Housing costs
  • Debt
  • Health care needs

Balancing present-day financial needs with long-term retirement goals is critical to achieving lasting financial stability.

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67% now worry more about running out of money than dying

For many Americans, the greatest concern about retirement isn’t mortality – it’s longevity.

What’s driving the fear of running out of money:

  • Inflation
  • Rising health care costs
  • Uncertainty around Social Security

As these risks compound, Americans are looking for reassurance that their money will last. This growing concern reinforces the importance of helping clients understand longevity risk and building strategies designed to support sustainable income over time.

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59% worry that keeping most of their retirement savings in the stock market risks significant losses

Many Americans have conflicting feelings about putting their retirement savings in the stock market. They worry about falling behind without the growth potential, but remain wary of market risk.

This tension is driving interest in potential solutions that offer more stability and risk management.

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77% say guaranteed income would ease retirement spending anxiety

About one in three retirees say it felt wrong to start drawing down on retirement assets after decades of saving -- about half of them say it was due to fear of outliving their savings. Some even worry about regretting spending too much money early on in retirement.

Potential solutions that provide predictable income and balance growth potential with a level of protection can help clients spend with confidence while preserving long‑term security.

Allianz Center for the Future of Retirement® conducted the 2026 Annual Retirement Study in January 2026 with a nationally representative sample of 1,000 respondents age 25+ with an annual household income of $50K+/$75K+ (single/married) OR investable assets of $150K+.

The Allianz Center for the Future of Retirement® produces insights and research as a part of Allianz Life Insurance Company of North America.

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