Americans say they feel good. They picture retirement as a season of travel, family time, and finally pursuing the hobbies they shelved during their working years.
And according to a new survey, most report that their personal sense of prosperity has held steady or improved over the past six months – even as their confidence in the economy, the stock market, and the political environment has eroded sharply.
But set against that optimism, numbers from Northwestern Mutual and Guardian Life Americans show that Americans are living longer, anticipating more from their later years – and falling significantly behind in their preparation for both.
In Northwestern Mutual's inaugural Personal Prosperity Index, developed with research firm Ipsos, nearly three-fourths of the 2,545 American adults surveyed describe themselves as feeling prosperous today. The index yielded an average score of 68 out of 100 – "good, but not exceptional," according to the insurance and retirement giant – with 28% of Americans reporting that their sense of prosperity had improved over the previous six months and just 18% saying it had declined.
What drives that sense of thriving? It's not the economy or financial markets. Household income and finances each ranked as influential for 36% of respondents, just edging out relationships with loved ones at 35% and emotional health at 31%. By contrast, the investment climate registered as a meaningful factor for only 16% of Americans, and the national economy – which has shown resilience, but is still probably not as great as some would hope – for just 25%.
While that inward orientation has a coherent logic, it also presents a real vulnerability. Half of working Americans say money and finances are their top source of stress, according to Guardian Life's 15th Annual Workplace Benefits Study, also released this spring. Focusing on those feeling like their emotional health is deteriorating, fully half said financial stress was the primary driver – ahead of work stress, health concerns, and relationship difficulties.
"Financial anxiety is an epidemic in America – and it casts a shadow over many other aspects of life," said Tim Gerend, chairman, president, and chief executive of Northwestern Mutual. "When half of adults say money worries are the primary strain on their mental well-being, it's a wake-up call."
The stakes attached to those financial anxieties are rising with life expectancy. By Guardian's polling, the average American is looking to live to age 91, well past the current US life expectancy of 79. The population of Americans aged 65 and older reached 61.2 million between 2023 and 2024, accounting for 18% of the total US population. The average retirement age has increased by roughly three years over the past three decades, and most Americans now plan to spend about two decades fully retired.
Yet Guardian's report, which surveyed 2,000 full-time working Americans in early 2026, found only 13% feel on track to save enough for the retirement lifestyle they want. Nearly half (45%) say they are somewhat or very far off track. Among workers aged 45 and older, 55% say they regret not starting to save sooner, and 53% regret not having saved more.
"Americans are living longer and envisioning fuller, more active lives in the years ahead, but our research shows there's a growing gap between those aspirations and how people are preparing today," Guardian Chairman and CEO Andrew MacMahon said in a statement.
Practically speaking, younger Americans are more financially strained. Only 59% of Gen Z respondents to the Northwestern Mutual survey said they have enough money to cover the basics plus a little extra, compared with 79% of Baby Boomers. More than half of Gen Z and millennials report being financially dependent on their parents, according to Guardian's report. Millennials register the sharpest financial stress, with 55% citing money worries as the top driver of declining emotional well-being – more than any other generation.
Younger generations are also falling behind on some health measures. Guardian found that 59% of Baby Boomers report being very good or excellent at keeping up with routine doctor appointments, compared with just 34% of Gen Z and millennials. Thirty-seven percent of Boomers say they maintain a healthy diet, against 29% of younger cohorts. Nearly 19% of employees across all ages say they have skipped or avoided doctor visits due to cost pressures, and 12% have foregone routine screenings such as mammograms or colonoscopies.
Older Americans face a different set of pressures. Boomer respondents in the Northwestern Mutual survey reported the sharpest deterioration in daily costs, with 78% saying costs of basic necessities have gotten worse over the previous six months. And while Americans aged 65 and older were generally more upbeat – 66% say they feel optimistic all or most of the time – about one in three older adults reports experiencing loneliness and isolation, which has been linked to mortality risk comparable to smoking up to 15 cigarettes a day.
Both studies point to a clear correlation between professional financial guidance and overall well-being – a finding that carries direct implications for advisors.
Northwestern Mutual's Personal Prosperity Index found that Americans who work with a financial advisor, hold investments, and carry insurance score an average of 76 on the prosperity index, compared with 66 for those without an advisor; that gap held even among those with less than $1 million in investable assets. Among respondents who reported high financial wellness to Guardian, 61% work with a financial advisor, and 65% say they are very good at living within their means.
The retirement savings target itself has grown considerably. According to Northwestern Mutual's 2026 Planning & Progress Study, Americans now estimate they will need $1.46 million to retire comfortably – up $200,000 from 2025. Meanwhile, 46% do not expect to be financially ready for retirement, and nearly half believe it is likely they will outlive their savings.
Research increasingly shows that longevity planning gaps extend well beyond savings levels, encompassing housing stability, access to care, and social support — areas where advisors are being called to expand their scope. More than one in five workers say they would be unable to cover expenses for even a month without a paycheck, and the median emergency savings among full-time workers stands at just $2,500, according to Guardian's study.
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