Nearly half of working Americans doubt they will ever be able to fully retire, according to the 2026 Retirement Expectations Survey from Thrivent. The findings, based on data from more than 2,000 adults surveyed by Ipsos in June, paint a sobering picture of the modern American workforce. Among the key findings, 47% of workers expressed doubt about their ability to retire completely, while only 58% believe they are on track to retire on their original schedule.
The data suggests that retirement is increasingly viewed as a fluid transition rather than a definitive finish line. “People are looking at retirement more as a transition than a finish line,” explained Jason Rogoff, a financial adviser at Thrivent. “We’re seeing people look at retirement just a little bit differently than they have in the past.” This shift is occurring against a backdrop of widespread concern regarding inflation, potential Social Security shortfalls, geopolitical conflicts, and the economic impact of artificial intelligence, with over half of respondents citing these factors as threats to their future security.
Experts suggest these findings illustrate a broader lack of retirement confidence in an era where the burden of saving has shifted largely to the individual. With the decline of traditional pensions, Americans are expected to manage their own retirement assets, primarily through 401(k) plans and IRAs. This transition places the onus of complex financial calculations on the worker, often without adequate guidance.
“Retirement is a big math problem,” said Robert Brokamp, a senior retirement adviser at The Motley Fool. “And you either have to have a really good tool or a really good expert who can help you nail down the numbers.” The difficulty of this task is compounded by the fact that many Americans feel behind their peers in savings, with half of all workers reporting that the mere thought of retirement causes them anxiety.
The survey also highlighted a significant disconnect between perceived needs and actual preparation. When asked how much they would need to retire in comfort, only 23% of respondents chose a figure under $1 million. This aligns with recent industry estimates, such as a 2025 Investopedia report suggesting families should maintain at least $35,000 in emergency savings, while other surveys place the “magic number” for retirement at $1.2 million or higher.
Brokamp noted that the disparity in savings highlights a “K-shaped” retirement trajectory. “We’ve all heard of the K-shaped economy,” he said, suggesting that while the wealthy continue to build significant balances—with the top 10% of net-worth households holding a median of $900,000 in retirement accounts—many others struggle to save anything at all. Federal data confirms that only about half of Americans currently hold any retirement accounts.
Despite the anxiety, many workers plan to bridge the gap by working indefinitely. Roughly three-quarters of workers intend to continue working for pay after their official retirement date, according to the 2026 Retirement Confidence Survey from the Employee Benefit Research Institute. However, the reality is often different, as only 31% of current retirees are actually employed, suggesting that returning to the workforce later in life can be far more difficult than anticipated.
Thrivent recommends that workers prioritize consistency to mitigate these fears. Even small, regular contributions can compound significantly over time; for instance, a single $1,000 investment can grow into $15,000 over 27 years, depending on 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. “Small, consistent retirement contributions will have a very meaningful impact over time.”
For those looking for a baseline strategy, experts often suggest saving 10% to 15% of one’s salary in broad index funds. However, a comprehensive plan must account for variables such as life expectancy, market volatility, and specific retirement timelines. “It’s very important to have a plan in place and one that’s adjustable based on the economy,” Rogoff added.
If hiring a human financial adviser is not feasible, Brokamp suggests utilizing online retirement planners offered by institutions like Fidelity, AARP, Vanguard, Charles Schwab, and Thrivent. These tools can help workers navigate the complexities of post-career life.
“You have so many decisions to make when you retire that you didn’t make when you were working,” Brokamp noted. “When you work, you’re just saving.” The transition requires shifting from an accumulation mindset to a distribution strategy, which involves managing withdrawals and tax implications.
Finally, advisers emphasize the importance of emergency savings as a foundational element of any retirement plan. By maintaining a liquid buffer, workers can avoid tapping into their retirement accounts when unexpected financial shocks occur, ensuring that their long-term savings remain intact for their intended purpose.
Retirement fears are running high, according to the 2026 Retirement Expectations Survey from Thrivent, the financial services company.
Only 58% of workers think they’ll have enough money to retire on schedule.
36% of workers expect to continue earning income in retirement.
“The average person doesn’t know what ‘enough’ is,” Brokamp said.
But most Americans have nowhere near that much money saved for retirement.
Among people in the top 10% by net worth, more than 90% have retirement accounts, and the median balance is $900,000, according to the 2022 Survey of Consumer Finances.
Saving for retirement does not require elaborate planning.