Retirement Savings Concerns Rising Among Current, Pre-Retirees

MetLife’s “2026 Paycheck or Pot of Gold Study,” released on Tuesday, found that 58% of pre-retirees worry about running out of money in their defined contribution plan during retirement and 51% of current retirees who have money remaining in their DC plan have the same concern.

The study showed a 9 percentage points increase in concern from pre-retirees—workers aged 50 to 75 currently enrolled in a workplace defined contribution plan—from the 2022 study findings and an increase from current retirees by 10 percentage points compared to 2022.

Due to these concerns, 46% of pre-retirees said they believe they will need to cut down on spending and 44% of current retirees said they already have. When asked which expenses they expect to spend the most on during retirement, 73% of pre-retirees and 60% of retirees said day-to-day living expenses, not including housing.

In fourth place among the nine answer options was a combined option for medical expenses and long-term care costs, with 50% of pre-retirees expecting it to eat at their DC plan savings and 29% of retirees saying it already does.

Likewise, a recent report from HealthView Services found that health care costs posed a threat to retirement budgets, with the long-term inflation rate for health-related costs projected to be 5.8%, more than twice the 2.4% projected rate of Social Security’s cost-of-living adjustments.

The report’s data show that an average, healthy 65-year-old couple will see a rise of $38,510 in health care costs for traditional Medicare programs commonly chosen by advised clients—including Parts B, D, Medigap (Plan G), dental premiums and all out-of-pocket costs—by the time they reach the age of 85. Assuming the couple’s average life of 88 for males and 90 for females, total expected health care costs would equal $661,812 in today’s dollars—$955,411 in future costs.

“Economic volatility, rising costs and increasing longevity are reshaping the retirement landscape,” said Roberta Rafaloff, MetLife’s vice president and head of institutional income annuities, in a statement. “Even diligent savers are finding their retirement outlook disrupted. Without reliable income streams to anchor their finances, retirees face an elevated risk of outliving their savings.”

Both studies found that due to the anxiety associated with properly saving for retirement, there is an increased interest in guidance from experts in planning for retirement.

MetLife’s study found that 96% of pre-retirees sought guidance, up from 86% in 2022. Similarly, retirees’ interest in professional guidance on retirement increased to 90% from 81% in 2022.

“Given the complexity of retirement health care choices, Americans planning for retirement need expert help from advisers,” said Michael Daley, HealthView Services’ head of research and marketing, in a statement. “Actuarial cost projections … are the starting point for building retirement plans that account for health care needs.”

HealthView’s report drew on information from 530 million health care cases and government data.

MetLife’s survey was conducted in the U.S. by the Harris Poll. The study involved 1,007 retirees—adults aged 50 to 75 years old who were retired, had a balance of at least $25,000 in a defined contribution plan when they retired, and withdrew all or a portion of that balance or received monthly annuity payments of at least $500 from a DC plan. The study also involved 1,015 “pre-retirees”—adults aged 50 to 75 who were employed full-time, planned to retire within five years, and were currently enrolled in an employer’s DC plan. The survey was conducted from October 8 through 31, 2025.