If you have been feeling uneasy about your financial future, you are far from alone. A new national survey finds that only 64 percent of Americans feel confident they will have enough money in retirement. That number is down from last year.
The 2026 EBRI Retirement Confidence Survey is now in its 36th year. It is the longest-running survey of its kind, conducted jointly by the Employee Benefit Research Institute and Greenwald Research.
The drop in confidence touched everyone. Workers fell 6 percentage points, down to 61 percent. Even people who are already retired saw their confidence slip, dropping 5 points to 73 percent.
What Is Fueling the Worry
The survey points to several overlapping concerns. Inflation is at the top of the list for both workers and retirees. The 4 percent annual withdrawal rate, long considered a safe standard, is not stretching as far as it once did.
Social Security uncertainty is another major driver. According to U.S. News, 7 in 10 retirees and 4 in 5 workers believe the government will make significant changes to Social Security. Many Americans are not confident the program will deliver the same benefits in the future.
Medicare confidence took a hit too. Trust in the program fell from 70 percent to 62 percent as premiums and co-payments went up while coverage went down. Younger workers in particular are worried Medicare will not meet their needs when they need it most.
Debt is also piling up. Federal Reserve data reported by Investopedia shows the median debt for retirees is around $32,050. Credit cards are the most common source of that debt, while mortgages carry the highest balances.
Four Steps Worth Taking Now
Feeling anxious makes sense given everything that is happening. But there are practical moves you can make to feel more in control of your situation.
- Work with a financial planner to map out your retirement goals and get a clear picture of where you stand.
- Revisit your Social Security claiming strategy if you have not yet reached full retirement age, timing matters.
- Review your Medicare plan options each year during open enrollment to make sure your coverage still fits your needs.
- Focus on what you can control, like paying down debt and building up your emergency fund.
You may not be able to fix everything at once. But having a realistic look at your money and a real plan for managing it can go a long way toward easing the worry. Knowledge and a clear direction are the best tools you have right now.