The survey of 2,000 U.S. adults reveals a disconnect between rising life expectancies and long-term financial preparation. While 48% of respondents report having a roadmap for their 60s, that figure drops to 41% for the following decade and falls further for those entering their 80s. This decline persists even among high-net-worth individuals and business owners, who remain notably more concerned about maintaining income stability in their later years.
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Longevity Gap: Americans Falling Short on Retirement Income Planning
Only 34% of Americans have a clear strategy for generating income past age 80, according to new research from The Guardian Life Insurance Company of America. While nearly half of adults prepare for their early retirement years, planning efforts diminish significantly as life expectancy continues to climb across the United States.
Nancy DeRusso, head of client solutions at Guardian, notes that many individuals focus on saving targets while neglecting the mechanics of long-term distribution. "Many know how much they are trying to save, but far fewer have a clear answer for how they will turn those savings into income over 20 or 30 years," DeRusso said. The research underscores a widespread desire for certainty, with 64% of respondents identifying guaranteed income as the primary driver of retirement confidence. Despite this, more than half of all adults have never consulted a financial advisor, leaving a significant gap in professional guidance for managing risks like unpredictable healthcare costs and evolving caregiving responsibilities.
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