Retirement Feels Out of Reach for 1 in 5 Americans, Survey Finds

More than one in five Americans believe it will “take a miracle” to retire securely, according to a new survey highlighting widespread concerns about financial readiness for retirement. Despite recent gains in the S&P 500 boosting optimism, many workers remain uneasy about savings shortfalls, inflation, and potential cuts to government benefits.

Natixis Investment Managers surveyed 750 Americans earlier this year and found that 21% lack confidence in their retirement prospects. Top concerns included insufficient savings and rising costs eroding purchasing power. Experts stress that creating and following a savings and investment plan can help close the gap.

“They don’t need a miracle, they need a plan,” said Dave Goodsell, executive director of the Natixis Center for Investor Insight. “You really gotta focus in on what you’re doing and be honest about what your future cost might be, what kind of lifestyle you’re going to have.”

Man holding cash | Source: Pexels

Katie Klingensmith, chief investment strategist at Edelman Financial Engines, said, “It is always the right answer to put all of the assets together and invest them according to a plan.” She emphasized starting early, reviewing goals regularly, and avoiding emotionally driven changes.

Online tools such as investor.gov, Boldin, and Empower can help Americans run scenarios to check progress toward retirement goals. Many, like Boldin founder Stephen Chen’s clients, also share their plans with financial advisors for second opinions.