Financial shocks, caregiving gaps and inflation pressures persist

CHICAGO, IL, May 7, 2026 -- The Society of Actuaries Research Institute has published its latest Retirement Risk Survey complete report of findings, providing insights on Americans’ retirement concerns and preparedness in retirement. The report provides deeper analysis on retirement timing and income, financial preparedness for unexpected events, the impact of family and caregiving, and also the use of technology with respect to retirement planning. The survey gathered insights from U.S. retirees and pre-retirees aged 45 to 80, spanning all income levels.

“Retirement risk is shaped by both life events and long-term planning, so it’s important to understand and carefully consider the different risks possible,” said Steve Siegel, ASA, Senior Practice Research Actuary, SOA.  “A financial shock, caregiving need or sustained cost pressure can reshape someone’s financial security—and is why retirement planning should account for the unexpected, not just best-case scenarios.”

Now in its third decade, the Retirement Risk Survey is a cornerstone of the SOA’s Aging and Retirement Strategic Research Program. Findings from the biennial Retirement Risk Survey provide insights into financial retirement risks and help improve financial planning strategies.

Key findings include:

Retirement timing and resilience: Retirement often happens earlier than expected: 59% of surveyed retirees report leaving the workforce earlier than anticipated, while only 6% retired later than planned. Health status changes are the primary reason for earlier retirement among lower-income retirees.

Financial shocks and unexpected expenses: Pre-retirees, defined as respondents who have not yet retired, are experiencing more financial shocks:

29% of pre-retirees experienced a family emergency requiring use of 10% or more of their savings; a large increase from the prior survey

Inflation pressures are felt more acutely by pre-retirees.

Family and caregiving responsibilities: 35% of pre-retirees and 29% of retirees say it is very or somewhat likely they will need caregiving in the future, yet nearly half of those individuals report they have not made any plans for those needs.

Family support can reduce retirement readiness. Nearly one-third of pre-retirees provide some kind of financial support to adult children.

Nearly one in five pre-retirees support parents or in-laws, which can reduce their own ability to save for retirement.

Technology, AI and financial security: AI adoption and security practices vary with 46% of pre-retirees reporting actively using artificial intelligence, compared with only 26% of retirees. Fewer than 50% report using more proactive online security protection measures such as reporting phishing attempts or using identity-theft protection.