Most Older Workers Rethinking Retirement Amid Rising Financial Anxiety

More than two-thirds (70%) of Americans older than 50 who have not yet retired are reconsidering or postponing their retirement plans, according to new data from F&G Annuities & Life’s third annual Retirement Reconsidered survey. The findings reflected deepening concerns about financial security in an increasingly uncertain economic climate. F&G, which offers annuities, life insurance and pension buyout services, reported that the share of pre-retirees delaying retirement has surged to 23%—a 14-point increase from last year.

Nearly half (48%) cited fears they will not have enough money to retire, while 44% blamed inflation and rising costs of living. Other top concerns included the need for greater financial flexibility (42%) and the risk of a potential market downturn (34%).

This erosion of retirement confidence reflects a broader wave of financial anxiety affecting Americans across life stages. According to a recent quarterly survey by Equitable—a financial services organization that provides advice, protection and retirement strategies—only 42% of respondents reported feeling prepared to navigate ongoing economic uncertainty. More than two-thirds said they worry that unpredictable conditions such as inflation, tariffs and market volatility could derail their long-term goals.

The Guidance Divide

Yet a striking difference emerges, depending on individuals’ experience working with a financial adviser. Equitable’s survey showed that nearly six in 10 respondents who consult a financial professional say they feel prepared to manage today’s economic challenges—compared with just 30% of those going it alone. Those with advisers also reported being far more likely to adjust their financial plans: 54% plan to rebalance investments or change their product mix, compared with just 36% of those not hiring professional help.

This aligns with F&G’s findings that, despite retirement planning becoming more complex, nearly half of respondents—especially Gen Xers—are doing it without a financial adviser. While 75% said they consult a spouse and 53% that turn to an adviser, 38% admitted they would not ask anyone for guidance. That means 47% overall—and 54% of Generation X—are navigating a potentially life-defining transition without professional insight.

“Americans are navigating a financial fog—concerns about tariffs, geopolitical uncertainty, market volatility, and lingering recession fears have left many second-guessing their next move toward a secure financial future,” said Nick Lane, president of Equitable, in a statement. “In today’s constantly shifting environment, working with a trusted financial professional can help individuals build a plan and move forward with confidence.”

‘Unretirement’ on the Rise

For some, according to the F&G survey, the impact of this uncertainty is more dramatic: not just a delay in retirement, but a reversal. Nearly one in three retiree respondents (29%) said they are considering “unretiring” and reentering the workforce. Among Gen X retirees, that figure jumped to 54%—nearly double the rate of Baby Boomers (28%).

Their motivations are both financial and emotional: 42% said they miss the intellectual challenge of work, and 40% said they are looking for more financial flexibility. While inflation remained a factor for 36%, many also reported wanting to avoid a loss of purpose or structure in retirement.

An Opportunity for Advisers

The combined data from F&G and Equitable point to a growing advice gap—and a major opportunity for financial advisers. As economic conditions evolve and retirement timelines stretch or shift, Americans are increasingly in need of support. Yet many are hesitant or unsure where to turn.

In a time of heightened financial anxiety, retirement may no longer follow a predictable path—and navigating it well may depend on having the right guide.

“Financial professionals have an opportunity to help more Americans aim for an ‘A’ in retirement,” says Chris Blunt, CEO of F&G. “By guiding individuals to align their financial plans with the kind of life they truly want, they can make a significant difference in both confidence and outcomes.”