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The Retirement Age Hasn’t Changed Much in 60 Years. Americans’ Expectations Have

Prudential's global survey found 89% of wealthy U.S. adults with $100,000 or more in investable assets feel confident covering essential retirement costs, while 63% of U.S. respondents worry about Social Security benefits.
More than 11,200 individuals are turning 65 daily through 2027 as the baby boomer generation hits 'peak 65', while the Consumer Price Index rose 3% year over year and Social Security's COLA for 2026 is 2.8%.
Working with a financial advisor correlates with higher readiness—93% of respondents with advisors versus 83% without—but only 55% have factored inflation into plans amid a nonessential expenses confidence gap of 86% to 68%.
Nearly 70% of Gen X and 50% of baby boomers said their savings are insufficient, while 54% of Americans expect financial improvement but fear depleting funds, Prudential found.
Financial educators and firms urge using retirement planning tools, as `Most people don't have a good sense of what they really need, both to save and live off of,` underscoring the need for calculators and education from agencies like the Social Security Administration, Department of Labor, and firms such as Prudential and Vanguard.

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