Two new research reports from Gallup and Ameriprise Financial underscore a persistent disconnect between Americans' short-term financial confidence and their long-term retirement security fears. The findings, released in early 2025, reveal that while many individuals feel capable of managing day-to-day finances, deep anxieties about retirement income and aging without support remain widespread.
Gallup's latest poll, conducted in January 2025, found that 69% of non-retirees said they are very or moderately worried about not having enough money for retirement. That figure ties the highest level recorded since 2022, when inflation and market volatility first spiked. Among retirees, however, 82% reported they have enough to live comfortably, a stark contrast to the 45% of non-retirees who expect to achieve similar financial security.
The worry is most acute among lower-income households. Gallup reported that 82% of non-retirees earning under $40,000 annually expressed concern about retirement finances, compared with 55% of those in households earning $100,000 or more. Social Security remains a critical pillar: 62% of retirees now cite it as a major income source, a record high in Gallup's tracking.
Ameriprise's study, titled Flying Solo: Navigating Financial Autonomy, surveyed single, divorced, and widowed adults who manage their finances alone. It found that 85% feel confident handling money independently, but an identical 85% worry about aging alone and making future financial and healthcare decisions without a partner. Key concerns include healthcare expenses, long-term care planning, and maintaining independence later in life.
Together, the reports highlight a broader tension in personal finance: Americans project confidence in daily money management but remain uncertain about their long-term financial future. For solo individuals, retirement planning extends beyond investment performance to include caregiving, housing, and healthcare support. Ameriprise noted that many financially independent adults are seeking guidance as they prepare for longer life expectancies and evolving retirement realities.
Advisors may find these trends relevant to their practices. The gap between retiree satisfaction and worker anxiety suggests a need for more realistic retirement planning conversations, especially for clients with lower incomes. For solo clients, holistic advice that addresses healthcare, housing, and support networks could be as important as portfolio management. A recent Northwestern Mutual and Guardian survey similarly found a gap between financial optimism and retirement readiness, reinforcing the theme.
Gallup's data also points to the enduring importance of Social Security. With 62% of retirees relying on it as a major income source—a record high—advisors may need to incorporate Social Security claiming strategies more prominently in retirement plans. The Fidelity study showing 43% of stock plan participants are first-time investors further suggests that many workers are new to long-term saving and may need extra guidance.
The findings come as the retirement planning landscape evolves. A Trump executive order mandating a new retirement portal for uncovered workers and the Saver's Match set for 2027 could expand access for lower-income households. For advisors, these developments underscore the opportunity to address both the confidence and the anxiety that Americans bring to retirement planning.
