Nearly half of Americans who have not retired yet doubt their full retirement is possible, according to a recent study. A survey by financial services firm Thrivent showed that 47% of non-retirees question their ability to completely stop working. Financial experts link this skepticism to rising anxiety over economic conditions, including the impact of artificial intelligence (AI) on jobs in the coming years.
Why Retirement Security Matters
Retirement security has emerged as a significant concern for many Americans. Inflation and rising housing costs are straining household budgets. The traditional retirement model, where workers leave the labor force in their mid-60s, is becoming outdated. Many now expect to work, at least in some capacity, well beyond traditional retirement age. The evolving view on retirement is shaped by current economic pressures.
Drew Powers, founder of Powers Financial Group, noted, “Workers in office settings might feel they can extend their careers due to advancements in medicine. Yet, the vanishing middle class makes retiring comfortably seem less achievable.”
Current Economic Realities
According to Thrivent’s 2026 Retirement Expectations Survey, 58% of non-retirees are confident about retiring from their primary careers as planned. However, doubt lingers about the nature of retirement. Only 47% believe they will fully retire. Thrivent adviser Jason Rogoff highlighted, “Americans today face a broader range of questions about work, the economy, and retirement than a few years ago.”
Many Americans focus more on immediate financial needs than future planning. Thrivent found that 64% prioritize current expenses over retirement savings. Michael Ryan of MichaelRyanMoney.com emphasized that rising costs affect the ability to save, with half of the workers reducing retirement savings recently.
Thrivent identified rising costs and economic uncertainty as key issues affecting retirement expectations. AI’s growth also shapes views on long-term financial security. Ryan stated, “People aren’t giving up on retirement—they’re struggling to fund it. Many plan for part-time work or consulting in retirement, indicating a shift in the retirement goal.”
The AI Factor
The survey revealed that non-retirees, particularly among Gen Z and millennials, are concerned about AI’s impact on job availability. Sixty-three percent of Gen Z and 59% of millennials worry AI-related job reductions could affect their retirement prospects. Comparatively, 49% of Gen X and baby boomers share this concern.
Kevin Thompson, CEO of 9i Capital Group, suggested, “If AI replaces workers who fund Social Security through payroll taxes, we must reconsider these programs’ funding. Discussions on potential ‘machine tax’ or new funding models will soon be unavoidable.”
Even retirees express worry; 30% said AI-driven workforce changes had affected their retirement negatively, up from 20% the previous year.
Future Implications
As Congress debates the future of Social Security and retirement programs, retirement preparedness will remain a crucial concern. While many workers believe in timely retirement, more are preparing to work longer due to necessity or a redefined notion of retirement.
Alex Beene, a financial literacy instructor at the University of Tennessee at Martin, noted, “Higher costs, longer lifespans, insecure Social Security, and disappearing pensions lead many to assume they’ll work during retirement. The economy is adapting to aging by integrating part-time and flexible work.”
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