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New York Life | July 31, 2026

New York Life’s latest Wealth Watch survey finds Americans are engaged with their finances, and increasingly focused on the strategies that translate effort into long-term security.

Key finding: New York Life’s 2026 Wealth Watch Midyear Outlook found that 61% of Americans have a financial strategy in place, up from 58% last year, yet just 52% are confident their retirement savings will last a lifetime, a 21-percentage-point drop from 2025. Americans who work with a financial professional and own protection products are nearly twice as likely to feel confident their assets will last throughout retirement.

Halfway through 2026, Americans are doing more with their finances. More than three-fifths (61%) have a financial strategy in place, up from 58% a year ago, and 79% say they have taken active steps to address their financial concerns. Yet the latest New York Life Wealth Watch Midyear Outlook survey, conducted in June 2026 among 2,207 nationally representative adults, reveals a gap between that effort and retirement confidence. Just 52% of Americans 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. That’s where having a comprehensive financial strategy, oriented to personal goals, can help provide greater clarity and confidence.”

Why are Americans planning more but feeling less confident about retirement?

The survey reflects a population that is engaged across multiple financial fronts. More than a third (37%) plan to make changes to their investment portfolio or strategy this year, and 56% have already updated their retirement strategy — with paying down debt (22%) and continuing to work while phasing into retirement (18%) among the most common adjustments.

Yet confidence in specific retirement outcomes has declined. Confidence in retiring at one’s desired age fell from 74% to 67% year over year, and 27% of those with a financial strategy say they feel confident in it.

Retirement timelines are also being reassessed. One in three Americans (34%) has delayed or plans to delay retirement, with nearly half of that group expecting to push it back by five years or more. The reasons include not having saved enough (46%), inflation (45%), and debt (30%). A growing share — 25%, up from 20% last year — also cite uncertainty around Social Security or pension eligibility ages as a factor in their decision.

“Having a strategy and feeling confident in it are two different things,” Madgett noted. “Most Americans who have a strategy are still uncertain whether it’s adequate — whether it accounts for inflation, whether their savings rate is right, whether they have the right protection in place. That’s where professional guidance makes a measurable difference.”

Gen Z is doing the work, and building strong financial habits

Younger Americans are demonstrating notable financial discipline under pressure. While 31% of Gen Z respondents say they have trimmed emergency savings to keep pace with rising costs, the highest rate of any generation, nearly half (47%) are still contributing to a 401(k), also the highest rate of any generation. The data suggests a generation that is deliberately protecting long-term retirement savings even when short-term budgets are stretched.

Gen Z is also the most active generation when it comes to financial education. Thirty-two percent report actively researching financial topics, and 22% use generative AI tools such as ChatGPT to do so, compared to just 3% of Baby Boomers. Their interest in protection products, such as life insurance, is equally strong: 62% express interest in future purchases, compared to 31% of Baby Boomers.

The combination of 401(k) participation, active research, and strong interest in protection signals a generation building financial habits that position them well for the long term, even as they navigate real near-term pressures, including a higher likelihood than any other generation of citing job loss as a financial concern (30%).

“Financial confidence isn’t just about what’s happening today — it’s also about feeling prepared for what’s ahead,” Madgett said. “Americans are looking for strategies that help them stay resilient and focused on their long-term goals.”

How does working with a financial professional effect retirement confidence?

One of the most striking findings in this year’s survey is the gap in retirement confidence between Americans who work with a financial professional and own protection products and those who don’t. 86% of the former group are confident their assets will last throughout retirement, compared to 43% of those without a financial professional or protection products, a 43-point difference. Protection products in this context include solutions such as life insurance and long-term care insurance that help safeguard financial plans against unexpected events like a health crisis, disability, or the early death of an income earner.

The gap extends across every dimension the survey measures. Americans with a financial professional are far more likely to feel hopeful (43% vs. 17%), prepared (31% vs. 8%), and excited (29% vs. 9%) about retirement. They are also significantly less likely to cite financial concerns: 51% cite higher costs of living as a top worry, compared to 65% of those without a financial professional.

Behaviorally, the difference is equally pronounced. Those with a financial professional are more likely to be staying current on the economy (37% vs. 20%), making changes to their financial strategy (35% vs. 27%), and increasing the share of their income going to savings (32% 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,” Madgett said. “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.