Americans Are Terrified of This Retirement Issue More Than Death
While many Americans can agree that dying right after you retire would be a major bummer, a new survey says that there's something even bigger keeping people of a certain age up at night.
According to the annual survey from the Allianz Center for the Future of Retirement, Americans are so lockstep in this one fear that it actually says a whole lot about how secure people feel in retirement. Keep reading to learn more about the new study.
Americans are Afraid of Running Out of Money in Retirement
When it comes to the big concerns bothering U.S. retirees, the Allianz Life Study says that running out of money tops the list of fears. "Americans are well aware that preparing to fund a decades-long retirement is a big undertaking," Kelly LaVigne, VP of consumer insights with Allianz Life, said in a press release about the study. "Rising costs and ongoing economic uncertainty are making many people wonder if their savings will run out. Setting money aside is an important step, but Americans also need a strategy to turn those assets into a reliable income stream that can last their lifetime."
Related: The Secret To Boosting Your Social Security Check by 30 Percent
This is a marked change from previous years, according to the findings, which note that the number of people who said they were afraid of outliving their savings has "increased significantly" over the past five years, rising 10 percent since 2022.
According to the findings, Gen X is most concerned, at 73 percent, with Millennials coming in at 69 percent, and Baby Boomers bring up the rear with 59 percent.
People Have Other Major Concerns About Retirement
While inflation and rising costs are obviously a big worry for people in retirement, it's hardly the only thing they are thinking about, according to Allianz Life. That's because there are two other fears hanging over American heads, including:
- 48 percent lack a written financial plan
- 53 percent say they worry about healthcare costs
- 57 percent say they are anxious about the market
- 57 percent say that they are worried about high inflation
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While some of these things are out of your control, there are steps you can take to shore up your retirement savings, including meeting with a financial professional to get a plan down in writing. Discussing your goals and creating a step-by-step plan to achieve them can go a long way toward easing some of these retirement fears.
Additionally, learning more about how Social Security can factor into your retirement can also be beneficial, since there are several things you can do before you retire to boost your benefits and ensure that you're getting the most money you can, like waiting until you are 70 to retire and making sure that you have at least 35 years of earnings for the Social Security Administration (SSA) to use when it calculates your final lifetime benefits when you reach full retirement age.
Disclaimer: This article is for informational purposes only and does not constitute financial advice.
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This story was originally published May 6, 2026 at 7:46 AM.