The new American retirement fear: working until you die | Fortune
In a strained economy, more Americans suspect their worst retirement fear is coming true—that they won't get to retire at all.
Growing Retirement Anxiety
A WalletHub poll released at the end of August shows that 43% of Americans anticipate having to work for the rest of their lives. The same survey found that 39% feel nervous when they think about retirement, while 29% expect to rely on family members for financial support after they stop working.
Long‑standing Concerns
Gallup data indicate that a majority of U.S. adults have expressed worry about insufficient retirement savings every year since 2001, keeping retirement as the nation’s top financial concern for more than two decades, ahead of medical expenses and other money issues. The latest surge of unease arrives as households grapple with renewed inflation pressures, which have again become a central financial worry.
Rising Costs of Essentials
Price increases are most evident in basic items. The American Automobile Association reported that the national average price for a gallon of regular gasoline rose to $4.27 this week, a 13‑cent jump in just seven days. Meanwhile, the Bureau of Labor Statistics showed that ground beef cost $6.89 per pound in July, marking a 9.4% rise compared with a year earlier.
Inflation and Market Volatility
The National Institute on Retirement Security (NIRS) released a report in August stating that 61% of Americans fear they will not achieve financial security in retirement. Of those, 73% cite inflation as a key factor, and 62% point to market volatility. The Employee Benefit Research Institute’s 2026 Retirement Confidence Survey mirrors this trend, showing a six‑point decline in workers’ confidence that they will have enough to retire comfortably, now at 61%.
Debt Undermines Savings
Debt further strains retirement preparation. NIRS found that 74% of respondents view debt as a problem, and 77% say it hinders adequate retirement saving. WalletHub’s findings align, with 53% of participants indicating that paying down debt takes precedence over contributing to retirement accounts. These dynamics help explain why nearly four in ten Americans approaching their 60s lack any retirement account, as previously reported by Fortune.
Importance of Benefits
Despite the pressures, retirement benefits remain highly valued. NIRS reports that 75% of current workers consider retirement benefits a very or extremely important factor when evaluating job opportunities, and 41% say these benefits have grown in importance over the past year.
Perception of a Crisis
Public perception of a looming crisis is rising. NIRS data show that 80% of Americans now believe the country faces a retirement crisis, up from 67% in 2020. Half of WalletHub respondents doubt that the average American can retire comfortably. TIAA chief executive Thasunda Brown Duckett described the nation’s roughly $4 trillion retirement shortfall as “a real crisis,” warning that about 40% of people risk exhausting their savings.
Changing Workforce Dynamics
Employment among older adults is shifting. Nearly 20% of individuals aged 65 and older are still working, almost double the proportion from 35 years ago. For many, the prospect of working indefinitely stems from financial necessity rather than personal choice.
New Financial‑tech Concerns
The NIRS report also highlighted emerging worries about newer investment options. Fifty‑three percent of Americans oppose the inclusion of cryptocurrency in employer‑sponsored retirement plans, and 77% view such crypto options as risky. Additionally, 45% expressed discomfort with artificial intelligence delivering financial advice, even though a majority have used AI tools.
Outlook on Retirement Security
“Americans are telling us that retirement security is becoming harder to achieve as they struggle with the affordability of everyday life,” said Dan Doonan, executive director of NIRS. “Housing, healthcare, debt and other expenses are competing with the need to save for retirement. At the same time, Americans are confronting new questions about AI and cryptocurrency as the retirement landscape becomes increasingly complex.”
Source: fortune.com · 2026-09-13