If you want to put your finger on the pulse of retirement trends, look no further than the annual Retirement Confident Survey conducted by the Employee Benefit Research Institute (EBRI).
For the past 35 years, EBRI has been checking in with today’s workers and retirees regarding their expectations about retirement and experiences in retirement.1
While some of the ideas have remained pretty consistent over the years, we like to focus on the emerging trends so we can bring those insights to you. Here are some of the top findings from the 2025 survey, which was released just a few months ago.
Expenses in Retirement: Most retirees say that retirement life is about what they expected. Nearly 80% report that they are able to spend money how they want—within reason. Interestingly, about seven out of 10 retirees are confident
“For I know the plans I have for you, declares the Lord, plans to prosper you and not to harm you, plans to give you hope and a future.” Jeremiah 29:11
A Desire for Help: More than 70% of today’s workers believe that a financial professional can help them prepare for retirement, but most are hesitant to get started. On the other hand, more than half of retirees have turned to a financial professional—a big jump from 2024. Why the sudden change? Retirees want help with complex financial issues, like extended care.
An Interest in Income: Today’s workers are interested in replacing their paycheck with a paycheck when they retire. Nearly 75% would like their workplace retirement plan to offer a choice that is designed to generate lifetime income.
“However, if people are counting on you (like a surviving spouse, a dependent child, or your church), running out of money may not just hurt you, but hurt others as well,” said Mick Owens, who wrote the popular book Diamond of Life: The Five P’s of Success and Significance.
A Healthy Focus on Health Care: Only about 40% of retirees say that health-care expenses are higher than expected, but most say health care costs remain a concern. The good news is that today’s workers are putting pen to paper to calculate what health care might cost when they retire.
The Role of Social Security: One of the most common questions we are asked is, “What do you think will happen with Social Security?” EBRI found that 66% of retirees report Social Security is a major source of retirement income, so it’s difficult to imagine any abrupt changes being made to the program.1
❓ Did You Know: It took 22 years for the full retirement age for Social Security to increase to 67 from 65. It started with amendments made in 1983. The full retirement age is now 67 for individuals born in 1960 or later.2
What About Working? Working in retirement reminds us of the famous Robert Burns poem that says, “The best-laid plans of mice and men often go awry.” Roughly 75% of workers plan on working in retirement but less than 30% of retirees in 2025 actually have worked for pay since retiring.
How do you compare to this survey, which polled the results after speaking with 1,042 workers and 1,005 retirees? Please let us know if any of the trends reflect what you are experiencing.
- EBRI.org, 2025
- BankersLife.com, May 11, 2023
