Americans are thinking about retirement income, yet many still do not feel fully prepared for retirement. LIMRA’s research reveals why: retirement confidence is driven by more than assets alone.
Consumers who actively plan, seek guidance, educate themselves, and develop confidence in sustainable income sources are significantly more likely to feel prepared for retirement.
Approximately 4 in 10 pre-retirees do not consider themselves highly prepared, highlighting a meaningful gap between retirement awareness and retirement readiness.
Even among consumers who feel financially prepared, concerns about inflation, healthcare costs, and outliving savings remain widespread. Consumers increasingly want predictable income and greater certainty about their financial future.
Planning matters. Among pre-retirees without a retirement plan, only 40% report high retirement preparedness, compared with 79% of those who spend 10 or more hours annually reviewing and updating their retirement plans.
This report provides financial professionals with a clear view of where clients feel confident, where they feel vulnerable, and where the greatest opportunities exist to help bridge the gap between thinking about retirement and being truly prepared for it. Retirement confidence is built, not assumed.
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