Healthcare tops retirees’ 2026 money worries, survey reveals

Healthcare expenses are emerging as the dominant financial concern for retirement-age Americans, reflecting retirement planning conversations that are shifting beyond portfolios and toward health, lifestyle, and purpose.

A quarterly national survey of investors who are near or already in retirement from the Oath Money & Meaning Institute shows that medical costs now eclipse all other money-related fears, although most retirees remain optimistic about the year ahead and report stable or improving financial conditions despite political and economic uncertainty.

Among respondents, 81% placed healthcare costs in their top three financial worries for 2026, followed by concerns about having insufficient savings at 67%, unexpected expenses at 52%, and housing costs at 39%.

When looking back, 42% said their greatest regret was not taking better care of their physical health earlier in life. Only after that came money-related reflections, with 34% saying they wish they had worried less about finances. Another 26% would have invested more time in family and social relationships, while 24% felt they should have better planned how to use their free time in retirement.

Smaller but meaningful groups also reported wishing they had sought professional financial advice sooner (19%), developed more hobbies (18%), or prioritized mental and emotional health earlier (12%).

More than one third (37%) said their top goal for 2026 is improving physical health or fitness, while just 3% cited saving more money. Simplifying life (15%) and strengthening social ties (11%) also ranked ahead of financial objectives.

Happiness and optimism are rising

Despite widespread healthcare cost concerns, nearly three quarters of respondents described their outlook for 2026 as positive.

Physical health (73%), mental health (72%), and personal or family events (71%) were the strongest drivers of outlook, outranking the economy (69%) and politics (68%). This suggests that non-financial factors increasingly shape retirees’ sense of security.

Happiness levels also climbed sharply. Forty percent reported being happier than a year ago — double the share from Oath’s Q4 2025 survey. Only 12% said they are less happy, while 48% feel unchanged.

From a financial standpoint, 46% said their situation has improved over the past year and 43% reported stability. Only 12% noted deterioration.

However, gender differences persist. Men were more likely to report financial improvement (53% versus 38% of women), while women were twice as likely as men to say their financial situation worsened (16% versus 8%). Advisors working with female retirees may need to address confidence, planning gaps, and income security more proactively.

Retirement isn’t slowing people down. Nearly half (46%) said they are busier than expected, while 31% emphasized the importance of social connections. Meanwhile, 38% highlighted the satisfaction they find in hobbies, family time, and personal goals — reinforcing that emotional and lifestyle planning are as important as financial readiness.

Retirement investors can learn a lot from folks who are already retired, and they are telling us that happiness in retirement is less about wealth and more about how they spend their time, connect with family, and care for their health,” said Rod Yancy, Founder of Oath and the Oath Money & Meaning Institute. “The industry has spent decades helping people save, but this research shows retirees also need guidance on building a life - from maintaining relationships and health to finding a purpose, as those are the non-financial aspects that makes those savings truly meaningful.”