A significant portion of the American workforce is grappling with the growing concern that complete retirement may never be a reality. According to the 2026 Retirement Expectations Survey conducted by Thrivent, nearly half of all working Americans doubt they will ever achieve a state of full retirement. The study, which gathered data from more than 2,000 American adults through Ipsos in June, highlights a shift in how individuals perceive their future.
Jason Rogoff, a financial adviser at Thrivent, noted that people are increasingly viewing retirement as a period of transition rather than a definitive finish line. This perspective comes during a period marked by worker anxiety surrounding persistent inflation, potential Social Security shortfalls, geopolitical conflict in the Middle East, and the economic implications of artificial intelligence. More than 50% of survey respondents indicated that each of these factors creates fears that their retirement plans will be negatively impacted. “We’re seeing people look at retirement just a little bit differently than they have in the past,” Rogoff said.
Experts suggest these findings reflect a broader decline in retirement confidence, particularly as the responsibility for saving has shifted onto individual employees through 401(k) plans and IRAs. Robert Brokamp, a senior retirement adviser at The Motley Fool, described retirement as a complex mathematical challenge, emphasizing that success often requires either a high-quality tool or expert guidance to navigate the numbers. “And you either have to have a really good tool or a really good expert who can help you nail down the numbers,” Brokamp added.
The survey data further reveals that more than one-third of workers feel they are behind their peers in saving for retirement, while half of all workers admitted that even thinking about the subject induces anxiety. When asked about the financial requirements for a comfortable retirement, only 23% of participants believed they could succeed with a figure under $1 million. Brokamp pointed out that many individuals struggle to define what constitutes enough, noting that while some industry estimates place the necessary “magic number” for retirement at $1.2 million or higher, the average person remains uncertain. “The average person doesn’t know what ‘enough’ is,” Brokamp said.
The financial landscape appears split, with Brokamp characterizing it as a “K-shaped retirement trajectory.” Data from the 2022 Survey of Consumer Finances supports this disparity, showing that over 90% of individuals in the top 10% of net worth hold retirement accounts, with a median balance of $900,000. In contrast, many others fear they will have to continue working indefinitely. While the 2026 Retirement Confidence Survey from the Employee Benefit Research Institute found that roughly 75% of workers plan to work for pay after official retirement, only 31% of current retirees are actually doing so. Returning to the workforce in retirement can be difficult, and many retirees find they can get by on Social Security income and modest savings.
To help navigate these challenges, Thrivent suggests that even modest, consistent contributions can yield significant results over time. For instance, a single $1,000 contribution could grow to $15,000 over 27 years, based on historical market performance. “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, noting that small, consistent contributions have a meaningful impact over time. Financial experts recommend aiming to save 10% to 15% of one's salary in broad index funds, though a full retirement plan is far more complex, requiring adjustments based on the economy, retirement timing, and life expectancy.
Establishing an emergency fund covering three to six months of expenses is also considered a critical component of a retirement plan, as it protects against financial shocks that might otherwise derail long-term savings goals. This money should be kept in an accessible account rather than a tax-sheltered retirement account to avoid early withdrawal penalties. In a 2025 report, Investopedia estimated that the average U.S. family should aim for at least $35,000 in emergency savings, though any amount is better than none.
Related Articles
Meet Md. Rubel Rana
As a core contributor to Worlddincidents.com, Rubel Rana brings a unique perspective to the world of journalism. Whether it’s deep-diving into historical trivia or covering the latest global headlines, Rubel Rana is committed to delivering high-quality, high-impact articles. Their writing blends meticulous research with a compelling voice, helping readers stay informed and curious about the world around them.