A new study reveals that many Americans feel anxious and uncertain when it comes to planning for their retirement years. With 46% of respondents reporting that they lack confidence in having enough money saved, employers have an opportunity to step up with more robust retirement benefits to attract and retain talent.

When Did They Start Saving?

Of those surveyed who are saving for retirement, 30% started putting money aside between ages 18 and 29. Another 28% began their retirement contributions in their 30s, while 16% started in their 40s and just 8% began at age 50 or older.

With nearly half not confident in their retirement savings, starting early is key. However, over 30% haven’t begun saving at all, pointing to a need for accessible retirement plans.

Feelings of Anxiety and Uncertainty

For 31% of Americans, thinking about retirement causes feelings of anxiety. Another 12% reported feeling scared when pondering their golden years.

With 61% expecting to work past retirement age and 39% anticipating they will need to work until they die, there is a sense of uncertainty about when retirement will become a reality.

While 30% feel motivated to save, the prevalence of anxiousness points to a need for retirement literacy education. Employers can help ease uncertainty by clearly communicating benefit options.

Threats to Retirement Goals

From past financial decisions (26%) to the ups and downs of the stock market (20%), survey respondents feel retirement goals are vulnerable. Another 20% see dependence on social security benefits as a threat, with the same percentage citing an unpredictable job market.

With so many Americans anxious about retiring, employers have an opportunity to boost hiring and retention by offering robust retirement benefits that provide stability amid variables out of workers’ control.

Debt Management Takes Priority

While saving for the future is important, survey findings revealed paying off debt takes priority for most. Over 60% said it’s more vital to pay down what they owe versus contribute to a retirement account.

Still, over 40% reported thinking about retirement often or all the time. This points to an opening for financial education around strategically budgeting and building emergency savings while tackling debt.

Rethinking Benefits

With most survey respondents starting retirement savings in their 30s yet still feeling anxious, the data indicates a need for more robust offerings targeting younger workers. Enhanced matching, early vesting, financial literacy programs, and auto-enrollment can provide this.

Creative solutions like student loan debt benefits also grab millennial and Gen Z attention while encouraging healthier retirement habits long-term. With confidence low, employers have an opportunity to innovate on benefits, addressing recruitment, retention, and financial wellness simultaneously. Companies acting now to improve their packages stand to draw top talent seeking security.

For more Employee Benefits resouces, contact INSURICA today.

Copyright © 2025 Smarts Publishing. This is not intended to be exhaustive nor should any discussion or opinions be construed as legal advice. Readers should contact legal counsel or an insurance professional for appropriate advice.