Eight in ten Americans now believe the United States is in the grip of a retirement crisis, according to a new survey from the National Institute on Retirement Security (NIRS). The figure, released in the organization's Retirement Insecurity 2026: Americans' Views of Retirement report, marks the highest level since NIRS began tracking the measure, surpassing the 67% recorded in 2020.
The survey, conducted online by Greenwald Research between October and November 2025, polled 1,203 adults aged 25 and older. It found that 68% of respondents say preparing for retirement is getting harder, up from 58% in 2020, with 45% describing it as "much harder," compared with 31% six years earlier. Nearly eight in ten (79%) agree that the average worker cannot save enough on their own for a secure retirement.
"Americans are telling us that retirement security is becoming harder to achieve as they struggle with the affordability of everyday life," said Dan Doonan, executive director of NIRS, a Washington, D.C.-based nonprofit research organization.
Debt and affordability pressures
When asked to identify the biggest personal obstacles to saving, respondents cited debt repayment (41%), high housing costs (39%), unexpected emergency expenses (30%), and healthcare or medical bills (25%). Thirteen percent pointed to a lack of access to a workplace retirement plan, while 12% cited childcare costs. At the macro level, 74% say debt is a personal problem preventing adequate retirement savings, and 77% say debt broadly undermines the country's ability to prepare for retirement.
Inflation and healthcare costs in retirement each registered as a concern for 91% of respondents, followed by long-term care costs (89%) and wages failing to keep pace (88%). These figures arrive as middle-class retirement savings lag amid persistent debt, inflation, and caregiving responsibilities, a trend advisors have observed over the past two years.
The savings reality is sobering: 47% of respondents have less than $100,000 set aside for retirement, and 18% report having no retirement savings at all. More than half said they did not begin saving until after age 30. The knowledge gap compounds the savings gap—only 9% correctly identified how much annual income $100,000 in savings would generate using standard withdrawal guidelines, roughly $4,000 in the first year.
Skepticism toward AI and crypto
The report also captures growing ambivalence about emerging financial technologies. While 63% of Americans say they have used an AI tool in some capacity, nearly half are uncomfortable with AI delivering financial advice. Sixty-one percent have not used AI for financial or retirement planning questions. Among those open to using AI, budgeting was the most cited potential use (38%), followed by investing (34%) and retirement planning (32%).
The results suggest a gap between general AI adoption and trust in its application to high-stakes financial decisions—a distinction with direct implications for advisory firms exploring AI-assisted planning tools. Meanwhile, 77% of respondents described cryptocurrency in retirement plans as risky, and 53% oppose employers offering it as an investment option. These findings land as regulatory debates over crypto options in 401(k) plans continue, with the Department of Labor's guidance remaining a live issue for plan sponsors and advisors.
Pensions gain ground
Despite the broader pessimism, the NIRS data reveals a continued and strengthening preference for defined benefit structures. Seventy-six percent view pensions favorably, and 69% say pensions help workers achieve retirement security more effectively than 401(k)-style defined contribution plans, up from 65% in 2020. More than half (57%) would choose a job with a pension over an otherwise identical role offering a 401(k), and 84% of workers without pension access say they would be more likely to stay with an employer that offered one.
For advisors, the findings underscore the importance of addressing debt and emergency savings in retirement planning, as well as the need to educate clients on sustainable withdrawal rates. The survey's data on AI and crypto also suggests that while clients may be curious about new tools, trust remains a barrier—an area where advisors can add value. As retirement plan defaults still rely on age-based target date funds, the broader shift in sentiment may prompt plan sponsors to reconsider their offerings.
