Retirement anxiety deepens even as Americans project financial confidence

Americans may feel increasingly confident managing their finances independently, but concerns about retirement security and aging alone continue to weigh heavily on consumers, according to two new pieces of research.

Ameriprise Financial’s latest study found that 85% of single, divorced and widowed Americans feel confident handling finances on their own, while the same percentage said they worry about aging alone and navigating future financial and healthcare decisions without a partner or support system.

The research, titled “Flying Solo: Navigating Financial Autonomy,” examined the outlook of adults solely responsible for managing their financial lives. Respondents identified concerns including healthcare expenses, long-term care planning and maintaining independence later in life.

The findings come as Gallup data released this week showed retirement anxiety remains stubbornly high among working Americans.

According to the poll, 69% of non-retirees said they are very or moderately worried about not having enough money for retirement, matching the highest level recorded since 2022.

Workers vs. retirees

Gallup also found a notable divide between retirees and workers when it comes to retirement expectations. While 82% of retirees said they have enough money to live comfortably, only 45% of non-retirees expect to achieve the same level of financial security in retirement.

“Non-retirees' worry about meeting their retirement income needs ties the recent high point recorded in 2022,” Gallup said in the report.

Financial concerns were especially pronounced among lower-income households. Gallup found that 82% of non-retirees earning under $40,000 annually worry about retirement finances, compared with 55% of those in households earning at least $100,000.

Together, the studies highlight a broader tension in personal finance: Americans are projecting confidence in day-to-day money management while remaining uncertain about their long-term financial future.

For solo Americans in particular, retirement planning often extends beyond investment performance and savings goals to include questions around caregiving, housing and healthcare support.

Ameriprise said its findings suggest many financially independent adults are seeking guidance as they prepare for longer life expectancies and evolving retirement realities.

“The new study highlights how financially solo adults balance independence with the need for trusted financial advice,” the company said in announcing the findings.

Gallup’s research also showed Social Security continues to play a central role in retirement income planning. The organization found that 62% of retirees now identify Social Security as a major source of retirement income, a record high.

The findings come as financial advisors continue emphasizing retirement income strategies, long-term care planning and holistic financial guidance for clients navigating increasingly complex retirement challenges.