Retirement savings anxiety affects older Americans, survey shows

A survey by Prudential Financial reveals significant anxiety among older Americans regarding the spending of their retirement savings. According to the 2026 Retirement Pulse survey, conducted among more than 3,000 American adults aged 50 and older, only 14% of respondents feel comfortable spending money on leisure activities such as travel and dining during retirement.

This phenomenon, described by Prudential as “Fear of Short Out” (FORO), persists even among wealthier individuals. Among those with over $500,000 in investable assets, only 39% feel comfortable spending on pleasure. Furthermore, 70% of this high-net-worth group stated they would prefer to leave assets behind rather than risk depleting them.

David Blanchett, head of retirement research at Prudential Financial, noted that while many view retirement savings as a mountain to be climbed and then spent, for most people, it functions more like a plateau. The study also found that 42% of respondents struggled to find a balance between living in the moment and waiting to enjoy life.