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Older Americans Worry They Can’t Make Their Savings Last


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Most Americans near retirement fear whether their investments are enough to stop working for the rest of their lives.

Insurance company Global Atlantic just released its 2025 Retirement Outlook Survey. Of the more than 1,000 investors aged between 55 and 75, two in three “are concerned about their income lasting their lifetime, with 30% saying they are extremely or very concerned.”

The research also reveals:

  • 46% of investors don’t think their investments are safe from “market downturns.”
  • One in three receiving pension benefits believe inflation will impact their pension income.
  • 56% say “protecting assets is more important than growth.” 

If these respondents – who have between $250K and $2 million in investable assets and regularly consult financial professionals – are worried, imagine how everyone else hoping to retire one day feels right now.

Emily LeMay, Co-Head of Individual Markets at Global Atlantic, confirms the growing sentiment among soon-to-be retirees.

 “As economic pressures grow and a record number of Americans head toward retirement, there is rising concern that many could face uncertain futures if retirement security is not adequately addressed,” LeMay says.

Rising medical costs and inflation take a toll

Rising healthcare costs and constant inflation are two of the main reasons behind these fears.

The survey revealed that 90% of these older investors worry about the growing expenses for healthcare, while 89% are keeping an eye on inflation, which can chip away at spending power over time.

Even solid savings can feel less secure with unexpected medical bills and everyday price hikes.

After analyzing 5 million retirement accounts, Vanguard found that a record 4.8% of people with 401(k) plans had to take hardship withdrawals last year. However, dipping into retirement savings can lead to major consequences.

“If you’re asking yourself, ‘Should I take out an early 401(k) withdrawal?’ the answer is no,” says CPA, author, and Debt.com founder Howard Dvorkin. “When you take money out before the defined withdrawal date, you’re not only paying a penalty but also missing out on future growth. It’s just not worth it.”

Social Security: Not the safety net it once was

There’s another layer to the worry: 76% of investors actively seek ways to compensate for impending Social Security shortfalls by talking to their financial advisors about alternative income options.

The insecurity about Social Security comes from warnings from the Social Security Administration, which says that trust fund reserves might be finished by 2037. Once that happens, taxes may only pay out around 76% of scheduled benefits.

This extensive cut in Social Security payouts is not good news for the 35% of investors who rely on that money to pay for expenses during retirement.

In addition to medical costs, inflation, and Social Security’s likely expiration date, investors are also dealing with the pressure of a volatile stock market.

Global tariffs add to investors’ panic

Recent moves to impose global tariffs have stirred up a lot of uncertainty in the markets. These tariffs – the kind America hasn’t seen since the rise of industrialism (and poverty) in the Gilded Age – have led to drops in major stock indexes like the S&P 500 over the past week.

JP Morgan recently released a revised version of its “economic outlook” due to President Trump’s tariff policies. Analysts with the global brokerage raised their “recession forecast” from 40% to 60%.

The tariff announcements have investors on edge, adding to the growing worry about whether current retirement savings will hold up amid wider economic troubles. In the Global Atlantic survey, 87% said they are “somewhat concerned” about the stock market’s unpredictability.

3 practical tips for retirement security

Financial experts like Dvorkin recommend being proactive about your retirement planning for those feeling the stress of these uncertain times. Here are a few simple tips to help secure your retirement funds:

  1. Reassess risk: Take a good look at your investment choices. Understand what risks you’re taking on and be ready to adjust your strategy as needed.

  2. Review time: Consider how many years actually remain in the workforce. This will help determine how aggressive savings and investing should be in the meantime.

  3. Diversify portfolios: Spread money across different types of investments. A mix of stocks, bonds, and other assets can help prevent one area from taking a big hit.

Dvorkin urges investors to do their research and be flexible.

“You may have to make more money, work a little longer, or restructure your investments,” Dvorkin advises. “With the right strategies, you can still retire with some peace of mind.”

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