Retirement survey findings
In 2022, we completed a survey to learn how Americans aged 50+ are thinking about retirement. The survey results showed that inflation, recession and healthcare costs continue to be top concerns when it comes to retirement. Learn more through the data below.
4 out of 5 Americans over age 50
are worried about inflation in retirement.
84% of pre-retirees are worried about inflation
76% of retirees are worried about inflation
76% of retirees are worried about inflation
71% of respondents are worried about a recession.
65% of respondents are worried about rising healthcare costs.
65% of respondents are worried about rising healthcare costs.
Many Americans age 50+ expect to work in retirement.
62%
of retirees are changing their budget due to inflation.
1/3
of pre-retirees (31%) say it’s unrealistic for them to retire without working at least part time.
55%
55% of pre-retirees expect to work part time in retirement to cover day-to-day expenses vs. just 15% of retirees
Why do respondents expect to work in retirement?
40% need the money.
39% would like to have more financial options and larger safety net.
43% enjoy the social aspect of working part time.
39% would like to have more financial options and larger safety net.
43% enjoy the social aspect of working part time.
67% of respondents say a steady income is the most important objective when making retirement plan financial decisions.
Only 19% own an annuity, which can provide this type of steady income throughout retirement.
The threat of inflation continues to be top of mind for Americans both approaching and already in retirement. In this economic environment, it’s more important than ever to revisit your retirement plan with an advisor and consider a more holistic set of products that can guarantee income, help protect against market volatility and inflation. This approach can help shift the focus to a more predictable retirement with a lifestyle of your choosing.” -Chris Blunt, F&G President and CEO
Survey Methodology
This Xcelerant Survey was conducted online by Directions Research, independently recognized as one of the nation's leading business decision insight firms. The survey was fielded from April 25 to May 6, 2022, among a demographically balanced nationally representative sample of 1,266 U.S. adults 50 years of age and older who have sole or shared financial decision-making responsibility for their household, are retired or plan to retire, and own financial products valued at $10,000 or more.
To ensure consistent and accurate representation of the U.S. general population 50 years of age and older, data are weighted to match the U.S. Census data by the following variables: sex, age, geographic region, race/ethnicity, and education. Weighting factors for each respondent are developed through a custom algorithm.
About Directions Research
Directions Research, founded in 1988, is a privately held firm based in Cincinnati, Ohio, with regional offices around the country, conducting work globally. It combines a highly experienced staff with a unique mix of innovative and proven approaches to answer pressing business issues. Directions is a member of the Insights Association and is committed to quality through the use of trusted sample partners and standard quality control processes.
Directions Research's authorization is required for any publication of the research findings or their implications. Directions Research has exercised its best efforts in the preparation of this information. In any event, Directions Research assumes no responsibility for any use which is made of this information or any decisions based upon it.
