Nov 5, 2026

One Decision Could Double Your Retirement Confidence, New Survey Finds

Americans' retirement confidence is rapidly declining. A recent New York Life survey found only 52% are confident their retirement savings will last a lifetime, down sharply from 73% in 2025. That’s a lot of people hoping their nest egg doesn’t crack.

Yet, one group stands out, with 86% of this cohort feeling confident in their retirement outlook. Read on to find out what distinguishes this group from the rest.

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Advisor Clients Feel Far More Confident

The survey found that among Americans who work with a financial professional and own protection products, 86% are confident their assets will last throughout retirement — double the rate among those without a financial professional or protection products (43%).

"People tend to feel more confident when they know where they stand and can see a clear path forward," said Sean Madgett, vice president and head of planning & practice solutions at New York Life.

"A financial professional can help consumers connect the different pieces of their financial lives, from savings and investments to protection and retirement income, into a strategy built around their goals."

Advisors Can Reduce Retirement Anxiety

Those who work with an advisor are far more likely to feel positive about retirement compared to those who do not. Compared to the general population, Americans who work with an advisor are more hopeful (43% versus 17%) and excited (29% versus 9%) about reaching this milestone.

People who work with an advisor are also less worried about their finances. While 65% of Americans without a financial professional cite higher living costs as a top concern, that figure falls to 51% among those who work with one. Likewise, 46% of Americans without a financial professional worry about saving for the future, compared to 38% of those with professional guidance.

"Retirement is one of life's biggest transitions that can evoke a range of emotions," Madgett said. "Uncertainty can create unnecessary stress, and working with a financial professional can help turn that uncertainty into a structured plan by helping people understand their options, evaluate tradeoffs and prepare for different scenarios."

Advisor Clients Do the Work

The confidence gap isn't just about feelings — Americans who work with advisors are also more likely to take concrete steps to strengthen their financial outlook.

The survey found that 37% are staying up to date on the economy, compared with 20% of those without an advisor. Meanwhile, 35% are making changes to their financial strategy versus 27% of those without an advisor, and 32% are increasing the percentage of income going to savings compared with 14%.

"Life rarely unfolds exactly as planned, which is why financial planning works best as an ongoing process rather than a one-time event," Madgett said. "Regularly reviewing a financial strategy gives people the opportunity to adjust as their goals, family circumstances or the broader economic environment change.

"Staying engaged helps ensure today's decisions continue supporting tomorrow's priorities, while giving people greater confidence that their plan reflects the life they're building."

This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.

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Written by

Gabrielle Olya

Edited by

Ashleigh Ray