Retirement Confidence Is Down in 2026: What It Means for Your Financial Future

Retirement confidence has taken a step back in 2026, leaving many workers and retirees feeling less certain about their financial future. After showing signs of improvement the year before, confidence levels have slipped as inflation, debt, housing costs, health concerns, and economic uncertainty continue to weigh on Americans preparing for, or already living in, retirement.

According to the latest Retirement Confidence Survey from the Employee Benefit Research Institute, only about three in five workers say they are confident they will have enough money to live comfortably in retirement. Retirees are more confident overall, with roughly three in four saying they feel confident about their retirement finances, but that confidence has also declined.

For many people, the biggest concern is simple: will their money last?

Inflation and Rising Costs Remain Major Concerns

One of the biggest factors affecting retirement confidence is the rising cost of living. Inflation continues to put pressure on household budgets, especially for workers who are still trying to save for retirement while also managing everyday expenses.

Workers are less confident than they were last year that they will be able to cover basic expenses in retirement, keep up with inflation, and handle unexpected emergency costs. This is especially important because retirement planning is not just about reaching a savings goal. It is about making sure your income, savings, and investments can support your lifestyle through changing market conditions, rising prices, and unexpected life events.

Housing costs are another major concern. More than seven in ten workers said they are concerned about housing costs rising and affecting their retirement finances. Retirees are concerned as well, though to a lesser extent.

Debt Is Making Retirement Planning Harder

Debt continues to be a major obstacle for many workers. According to the survey, 65% of workers say debt is a problem, with one in four calling it a major problem. Half of workers are carrying credit card debt.

That matters because debt can limit the amount people are able to save and invest for the future. High-interest debt, in particular, can make it difficult to build momentum toward retirement goals. For retirees, debt can also reduce financial flexibility and make it harder to live comfortably on a fixed income.

For anyone approaching retirement, managing debt should be part of the larger retirement conversation. Paying down debt, building emergency savings, and creating a reliable retirement income strategy can all work together to improve financial confidence.

Workers Expect to Retire Later Than Many Retirees Actually Did

Another important finding is the gap between when workers expect to retire and when retirees actually retired.

Workers continue to expect a median retirement age of 65. However, retirees report a median retirement age of 62. Many retirees say they left the workforce earlier than planned due to health issues or other circumstances beyond their control.

This is an important reminder that retirement does not always happen on your preferred timeline. Even if you plan to work until 65, 67, or 70, life can change. Health events, caregiving responsibilities, job changes, or economic conditions can force people to retire earlier than expected.

That is why it is important to build flexibility into your retirement plan. A strong plan should account for the possibility of retiring earlier than expected, while still preparing for the risk of living longer than expected.

Economic Uncertainty Is Still Weighing on Retirement Plans

Many workers and retirees are concerned about the possibility of a recession affecting their retirement plans. Workers are also concerned about potential changes to the American retirement system, health events that could prevent them from working, and the need to care for a loved one with a health condition or disability.

These concerns are understandable. Retirement planning can feel overwhelming when so many factors are outside of your control.

But while you cannot control inflation, market performance, government policy, or the economy, you can control how prepared you are. That includes reviewing your savings rate, understanding your investment strategy, managing risk, reducing unnecessary debt, and creating a plan for retirement income.

Why Guidance Matters

One of the most notable findings from the survey is that more than two in five workers and one in four retirees said they were unsure where to go for financial or retirement planning advice.

That uncertainty can create delays. People may wait to make decisions because they are not sure what to do next. They may delay investing, postpone retirement planning, or avoid conversations about Social Security, taxes, health care costs, and income needs.

The problem is that waiting too long can make retirement planning more difficult. Even small, consistent steps can make a meaningful difference over time.

Planning Can Help Restore Confidence

A retirement plan does not eliminate uncertainty, but it can help you feel more prepared for it. The goal is not to predict the future perfectly. The goal is to build a plan that can adjust as life changes.

That may include:

Reviewing your current retirement savings and income sources

Understanding how inflation could affect your future spending

Creating a strategy for Social Security

Managing investment risk based on your timeline

Planning for health care and long-term care expenses

Reducing debt before retirement

Building an emergency fund

Creating a sustainable withdrawal strategy

Retirement confidence often improves when people have a clearer picture of where they stand and what steps they can take next.

The Bottom Line

Retirement confidence is down in 2026, and many of the reasons are easy to understand. Inflation, debt, housing costs, health concerns, and economic uncertainty are real challenges for both workers and retirees.

But uncertainty does not mean you are powerless. With the right planning, regular reviews, and a strategy built around your personal goals, you can make more informed decisions and feel more confident about the road ahead.

If you are unsure where you stand or whether your retirement plan is built to handle today’s challenges, now is a good time to start the conversation.

IMPORTANT DISCLOSURES Broadridge Investor Communication Solutions, Inc. does not provide investment, tax, legal, or retirement advice or recommendations. The information presented here is not specific to any individual's personal circumstances. To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances. These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable — we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.

Advisory Services offered through Independent Solutions Wealth Management, LLC and Blackridge Asset Management, LLC, Registered Investment Advisers. Securities are offered through Peak Brokerage Services, LLC, Member FINRA/SIPC. Independent Solutions Wealth Management, LLC and Blackridge Asset Management, LLC are separate and independent entities from Peak Brokerage Services, LLC.