Americans seek financial stability, prioritize retirement confidence

New York Life  |  July 14, 2026

Americans with a financial professional are nearly twice as likely to feel prepared for what's ahead.

NEW YORK - Amid economic uncertainty, Americans are adjusting budgets, revisiting strategies and planning for the future. Yet their confidence in long-term financial security is falling, according to the latest New York Life Wealth Watch Midyear Outlook survey.

The survey found that 61% of Americans have a financial strategy in place, up from 58% a year ago, and 79% have taken steps to address their financial concerns. Yet just 52% are confident their retirement savings will last a lifetime, a 21-percentage-point drop from 73% in 2025.

“The findings show that Americans remain committed to their financial futures, even in the face of ongoing uncertainty,” said Sean Madgett, vice president and head of Planning & Practice Solutions at New York Life. “People are adjusting budgets, revisiting financial strategies and actively looking for ways to stay on track. At the same time, the sharp decline in retirement confidence suggests many Americans are questioning whether those efforts will be enough to achieve their long-term goals. That’s where having a comprehensive financial strategy, oriented to personal goals, can help provide greater clarity and confidence.”

How Americans are Navigating Financial Pressure

Americans are actively engaged in managing their finances, yet the results of that engagement are not yet translating into a sense of security, particularly for retirement.

Key findings include:

• 61% have a financial strategy in place, up from 58% a year ago, though only 27% say they are confident in that strategy. 
• 79% have taken action to address financial concerns, with the most common steps being making changes to their financial strategy (31%) and staying up-to-date on the economy (29%).
• 37% plan to make changes to their investment portfolio or strategy this year.
• Confidence in retiring at one’s desired age fell to 67% from 74% last year.
• More than half (56%) have already changed their retirement strategy, with paying down debt (22%) and continuing to work while delaying retirement (18%) among the most common adjustments.

Rethinking Retirement Timelines

For a growing share of Americans, the start of the retirement they envisioned is moving further into the future. One in three (34%) have already delayed retirement or plan to, and nearly half (46%) of that group expects to push it back by five years or more.

Among those who have delayed or plan to delay retirement:

• 46% say they haven’t saved enough.
• 45% cite inflation as a driver.
• 30% are trying to pay off debt.
• 25% point to changes in benefits such as Social Security or pension eligibility ages, up from 20% last year. Among Gen Z respondents who are delaying retirement, that figure rises to 34%, the highest of any generation.

Feelings about retirement reflect that strain. While hopeful remains the most common sentiment (29%), stressed (24%), worried (24%) and anxious (22%) are nearly as prevalent. Only 19% describe themselves as prepared.

Gen Z’s Financial Balancing Act

Gen Z is seeking financial education, while navigating financial pressure.

Among Gen Z respondents:

• 31% have cut back on emergency savings to keep up with rising costs, the highest rate of any generation. Even as they trim their safety net, nearly half (47%) are contributing to a 401(k), the highest rate of any generation, suggesting many younger Americans are protecting their long-term savings even when it means sacrificing short-term financial cushion.
• Gen Z is more likely than any other generation to cite job loss as a top financial concern (30% vs. 23% of Millennials, 21% of Gen Xers and 5% of Baby Boomers).
• Yet Gen Z and Millennials are doing the most financial research: 32% and 31%, respectively, report actively researching financial topics, compared to 23% of Gen Xers and 21% of Baby Boomers. Notably, Gen Z is also far more likely to use generative AI tools to research financial topics (22%) than baby Boomers (3%).
• They also indicate the most interest in protecting themselves: 62% of Gen Z and 58% of Millennials are interested in purchasing protection products, compared to 49% of Gen Xers and 31% of Baby Boomers.

“Financial confidence isn’t just about what’s happening today, it’s also about feeling prepared for what’s ahead,” Madgett said. “Whether it’s building retirement savings, protecting against unexpected events or navigating changing economic conditions, Americans are looking for strategies that help them stay resilient and focused on their long-term goals.”

A Powerful Combination

Across nearly every measure in the survey, Americans who work with a financial professional report meaningfully better financial outcomes and outlooks than those who don't.  

Among Americans who work with a financial professional and own protection products:

• 86% are confident their assets will last throughout retirement, compared to just 43% of those without a financial professional or protection products, a 43-point gap.
• They are far more likely to feel positive about retirement: hopeful (43% vs. 17%), confident (38% vs. 12%), prepared (31% vs. 8%), and excited (29% vs. 9%).
• They are significantly less likely to report financial concerns: 51% cite higher costs of living as a top worry, compared to 65% of those without a financial professional, 38% cite saving for the future as a concern, vs. 46% of those without a financial professional.
• They are also more likely to be taking action: 37% are staying up-to-date on the economy (vs. 20%), 35% are making changes to their financial strategy (vs. 27%), and 32% are increasing the percentage of their income going to savings (vs. 14%).

"The data makes clear that having a financial professional and the right planning strategy and solutions in place isn't just about peace of mind,” continued Madgett. “For anyone who recognizes themselves in the more anxious side of these findings, that's precisely where a conversation with a financial professional can make a meaningful difference."

ABOUT WEALTH WATCH                                                 

Wealth Watch is a recurring survey from New York Life that tracks Americans’ financial goals, progress toward those goals and feelings about their ability to secure their financial futures, identifying key themes and trends that are emerging about topics like retirement planning, the role of protection-oriented solutions and the importance of financial guidance.

SURVEY METHODOLOGY

This poll was conducted June 5-7, 2026 among a sample of 2,207 Adults. The interviews were conducted online, and the data was weighted to approximate a target sample of Adults based on gender, age, race, educational attainment, and region. Results from the full survey have a margin of error of plus or minus 2 percentage points.

ABOUT NEW YORK LIFE

New York Life Insurance Company (www.newyorklife.com), a Fortune 100 company founded in 1845, is the largest¹ mutual life insurance company in the United States and one of the largest life insurers in the world. Headquartered in New York City, New York Life’s family of companies offers life insurance, disability income insurance, retirement income, investments, and long-term care insurance. New York Life has the highest financial strength ratings currently awarded to any U.S. life insurer from all four of the major credit rating agencies.²

1 Based on revenue as reported by “Fortune 500 ranked within Industries, Insurance: Life, Health (Mutual),” Fortune magazine, 6/3/2026. For methodology, please see https://fortune.com/ranking/fortune500/#methodology .

2 Individual independent rating agency commentary as of 10/28/2025: A.M. Best (A++), Fitch (AAA), Moody’s Investors Service (Aa1), Standard & Poor’s (AA+).

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