Even during Financial Wellness Month, it’s clear that confidence about retirement isn’t universal.

Recent surveys show striking differences across generations, with older adults generally feeling more secure about their financial future than younger savers ¹.

Understanding these differences can help both retirees and pre-retirees take practical steps toward a more predictable and resilient retirement plan.

Generational Confidence in Retirement

According to the Employee Benefit Research Institute, 78% of current retirees report feeling “somewhat” or “very” confident that they will have enough money to maintain their lifestyle ².

By contrast, only 54% of pre-retirees in their 50s and early 60s express similar confidence, and younger generations report even lower levels.

These gaps often reflect:

• Accumulated savings: Retirees have had decades to build assets and adjust spending habits.
• Experience with planning: Older adults tend to have refined income strategies, optimized withdrawals, and established tax-efficient plans.
• Market exposure and risk tolerance: Younger savers may be more exposed to market volatility and uncertain economic conditions, affordable housing, and access to healthcare, which can erode confidence.

What This Means for Pre-Retirees

Low confidence isn’t a reason for concern—it’s an opportunity to act.

Pre-retirees can strengthen their retirement outlook by focusing on:

1. Regular plan reviews: Assess progress toward savings and income goals annually.
2. Tax-efficient strategies: Consider Roth conversions, Health Savings Accounts, and asset location for long-term efficiency.
3. Risk management: Align your investment mix with your time horizon, goals, and tolerance for market fluctuations.
4. Contingency planning: Include liquidity for emergencies and potential long-term care needs.

Even incremental steps can increase both confidence and control over your retirement path.

What Retirees Can Do Now

For those already in retirement, confidence doesn’t mean complacency.

Key considerations include:

• Income consistency: Ensure withdrawals align with both lifestyle and tax strategy.
• Flexibility: Adjust your spending and investment allocation as market and life circumstances change.
• Regular check-ins: Meet with a financial professional at least once a year to review income, investments, and risk management.

By taking deliberate, thoughtful steps, retirees can protect assets, maintain independence, and enjoy a more secure financial future.

Key Takeaways

Retirement confidence varies by generation, but thoughtful planning can help anyone move toward a stronger outlook.

Regardless of where you are in your journey:

• Stay proactive: Annual reviews and small adjustments can compound into meaningful results.
• Prioritize clarity: Understanding your income, expenses, and goals improves both confidence and control.
• Focus on flexibility: Preparing for unexpected costs, market swings, and life changes is just as important as saving.

Regardless of your age, consistent and purposeful action builds the foundation for a financially secure retirement.

Sources:
1. Employee Benefit Research Institute, “Retirement Confidence Survey 2025”
2. Vanguard, “U.S. Retirement Outlook: Our 2025 Report Recap”