New Survey Illuminates the Retirement Confidence Gap

May 1, 2026

Man and woman sitting at the kitchen table looking at documents.

Gen X are the next generation approaching retirement – and new data shows that they are also the most anxious about their retirement readiness.

ACLI’s latest Financial Resilience Survey shows that 59% of Gen X are “not very” or “not at all” confident about their retirement savings, with Millennials close behind.

However, there’s good news. The survey also confirms that financial planning helps boost retirement readiness, particularly among middle-class Americans. Middle-class households with life insurance are significantly more likely to feel confident about retirement (56%) compared to those without (44%).

Despite the advantages of financial planning and life insurance, a sizable portion of middle-class households remain uninformed – 41% haven’t looked for information or guidance about planning for retirement in the past year. Of those who haven’t looked for information, 56% lack confidence that they will have enough savings to live comfortably throughout retirement. Of those who seek retirement guidance, 58% feel confident in their retirement savings.

Financial professionals provide tools to help families kickstart their financial planning however they prefer, though most middle-class households rely on digital sources (30%) rather than a financial advisor or insurance agent (20%).

Life insurers can help close the retirement readiness gap by providing products that bring middle-class families peace of mind when they need it most.

Financial Strength Retirement Security

Andrew Melnyk

Andrew Melnyk is Vice President, Research and Chief Economist at the American Council of Life Insurers (ACLI). He holds a doctorate in economics and is a Certified Business Economist. His functions at ACLI include authoring white papers; managing the production of statistical publications; and managing ACLI’s Research Department. Prior to joining ACLI in 2005, he held positions in academia, government, and the private sector, both in the U.S. and abroad.