Many workers doubt they can retire fully, survey finds
A Thrivent Ipsos survey of over 2,000 US adults finds that 47% doubt they can retire completely, while 58% expect to have enough to retire on schedule. The study highlights anxiety over savings and concerns about inflation, Social Security, conflicts, and AI.
Key takeaways
- Nearly half of respondents doubt they can retire completely.
- A majority expect to retire with adequate funds, but a substantial minority anticipate continuing work in retirement.
- Fears about inflation, Social Security gaps, geopolitical conflict, and AI impacts are widespread among workers.
What Happened
A new Retirement Expectations Survey conducted by Thrivent and Ipsos in June surveyed more than 2,000 American adults. The results indicate that 47% of workers doubt they will be able to retire completely, while 58% believe they will have enough money to retire on schedule. Additionally, 36% expect to continue earning income in retirement. The study notes workers’ fears extend to inflation, potential Social Security shortfalls, global conflict, and the economic impact of AI, with more than half of respondents worried that each of these factors could harm retirement.
The survey portrays retirement as a transition rather than a final goal, a view echoed by financial professionals quoted in the report. One adviser described retirement math as challenging, emphasizing the need for effective tools or expertise to determine savings adequacy.
Why It Matters
The findings reflect a broader pattern of retirement insecurity among workers, alongside a growing expectation that personal savings will play a central role. The report notes that more than half of workers fear several macro factors will affect retirement, highlighting uncertainty about achieving financial security in later life. The data align with ongoing concerns about how individuals will bridge gaps in retirement funding amid shifting economic conditions.
Background
Context provided in the article points to a long-standing concern about insufficient retirement savings in the United States. Federal data cited in the report indicates that about half of Americans have retirement accounts. Among the top 10% by net worth, more than 90% have retirement accounts, with a median balance around $900,000 based on the 2022 Survey of Consumer Finances. The piece also references other studies noting a frequently cited “magic number” for retirement savings and contrasts those estimates with the broader population’s actual holdings. A separate retirement confidence survey by the Employee Benefit Research Institute shows a large portion of workers expect to work after retirement, though actual retirees who work are fewer, illustrating a gap between expectation and experience.
Key Facts
- 47% of workers doubt they will be able to retire completely.
- 58% think they’ll have enough money to retire on schedule.
- 36% expect to continue earning income in retirement.
- Survey conducted by Ipsos in June; Thrivent funded the study.
- Sample size: more than 2,000 American adults.
- Over half of workers fear inflation, Social Security shortfalls, conflict in the Middle East, and the economic impact of AI will hurt retirement.
- Fewer than half of Americans have retirement accounts; among top 10% by net worth, >90% have accounts with a median balance of about $900,000 (2022 data).
- About three-quarters of workers plan to work for pay after retirement (EBRI 2026); only ~31% of retirees are actually working.
- Only 23% of respondents chose a savings figure under $1 million as enough to retire comfortably.
What Happens Next
The report includes three practical tips intended to bolster retirement savings, such as saving regularly and recognizing how small contributions can grow over time. These recommendations are framed as ways for workers to improve long‑term retirement readiness, given the math and uncertainty highlighted by the survey.
Sources reviewed
Project Chintan independently synthesized and analyzed information cross-checked across the sources listed above.
