Content Detail

Prudential Research & Perspectives Our original research and thought leadership provide vital insights into important issues for our clients, financial professionals, policymakers, and the general public.

2018 Retirement Preparedness Survey

The U.S. retirement picture has changed radically over the past few decades. Fewer workers are eligible for a pension and instead need to save for their own retirements. Income is less predictable due to new employment models. And health care costs are increasing while people are living longer, which means that workers today don’t just have more responsibility to save for their own retirements – they also need to make those savings last longer.

Because they expect to rely less on Social Security and pensions, pre-retirees plan to have more sources of income in retirement than current retirees do according to a Prudential study, the 2018 Retirement Preparedness Survey: A Generational Challenge. Over half expect to work full- or part-time while in retirement.

Expected Sources Of Income In Retirement

Among the lessons retirees would pass on to today’s pre-retirees: save more, start saving earlier, and plan on retiring later. Tapping into financial wellness programs – many times offered through an employer – or working with a financial advisor can help younger workers create a customized retirement plan that will help them reach their goals.

To view the full report, download the 2018 Retirement Preparedness Survey: A Generational Challenge.