As Americans navigate the complexities of retirement savings, a recent survey conducted by CivicScience from January to July 2025 reveals a stark divide between retirees and those still employed. The survey also sheds light on financial security perceptions and concerns about Social Security.
Who is feeling financially unprepared for retirement?
Among 48,000 respondents, a significant 40.6% feel they do not have enough money invested, including retirement savings. This sentiment is particularly pronounced among those with fewer investable assets. Notably, 21.4% of respondents report having no investable assets at all, while 23.4% have less than $6,000. These figures highlight a pervasive sense of financial insecurity among a substantial portion of the population. To complicate matters, Statistics from Pew Research also indicate that 28% of adults expect the financial situation for them and their family to be worse a year from now.
In contrast, only 6.4% of respondents feel they have “much more than enough” invested, with another 12.2% feeling they have “somewhat more than enough.”
The survey also reveals interesting insights into how age influences investment perceptions. Older respondents are more likely to feel they have “much more than enough” invested, with 21.0% of this group being 65 or older. Conversely, those feeling they have “not enough” invested are more evenly distributed across age groups, with a slight concentration in the 35-54 age range.
Older Americans are more secure with their financial situation
Age plays a crucial role in these perceptions. Older respondents, particularly those aged 65 and older, tend to have more investable assets. Among those with more than $500,000 in assets, 39.0% are in this age group. This contrasts sharply with younger respondents, especially those aged 18-24, who are more likely to have less than $6,000 in assets. Once individuals reach $50,000 in savings, GoBankingRates says it’s time to shift the emphasis from savings to investing.
Photo Credit: Niklas Hamann (unsplash)
Financially unprepared for retirement, plus concern over Social Security
Concerns about the future of Social Security further compound these financial anxieties. Among those with $20,001 to $25,000 in assets, a staggering 84.0% express high concern about Social Security’s future. Even among those with more than $500,000, 61.0% remain very concerned. This widespread apprehension reflects the uncertainty surrounding Social Security’s sustainability and its impact on retirement planning.
These findings paint a complex picture of financial unpreparedness in Americans, highlighting the challenges faced by both retirees and those still employed. As concerns about Social Security persist, the need for robust retirement planning becomes increasingly evident.
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