A Western & Southern Financial Group survey of 1,014 U.S. adults age 50 and older explores how this age group approaches retirement today. Respondents included retired Americans and those who are approaching retirement. They shared what retirement looks like for them and what it takes to feel financially secure in it.
Why Retirees Are Going Back to Work
Among surveyed retirees, working after retirement was associated with both financial considerations and lifestyle preferences. Many reported seeking purpose or supplemental income as they reassessed what retirement means for them.
A significant share of retired respondents reported remaining active in the workforce, with 45% currently working in some paid capacity. Among retirees who have returned or would consider returning to work, 62% described it as a personal choice, compared to 33% who said it would be a financial necessity. Nearly 1 in 3 retirees (31%) have downplayed or avoided talking with a family member or close friend about their financial situation in retirement.
When asked what types of work they do or would consider in retirement, surveyed retirees gravitated toward flexible options:
- Remote or work-from-home roles (65%)
- Freelance or consulting work (47%)
- Part-time roles in previous industries (43%)
- Gig work (39%)
- Seasonal positions (37%)
- Starting a small business (22%)
Retirees most often said they returned to work to stay productive on their own terms and to stay mentally sharp (69% each). Another 68% did so to supplement their retirement income.
What Financial Security in Retirement Looks Like
Among surveyed Americans age 50 and older, many (69%) reported uncertainty about whether they have saved enough to retire comfortably. Even more (76%) said inflation and rising costs were a major concern for them. Respondents also shared how much they would need to feel financially secure in retirement, and what they would do if their savings fell short.
More than half of Americans age 50+ expressed uncertainty about their financial outlook:
- 57% reported feeling uncertain that their savings will last their lifetime.
- 51% said they don't feel prepared for the retirement they envision.
Only 37% reported having a clear financial strategy in place. A strong majority (73%) reported believing that returning to work would help improve their financial situation.
On average, Americans age 50+ believe $500,000 in retirement savings is needed to feel financially secure. If their savings fell below that level, 67% said they would reduce daily spending, and 58% would consider part-time work. When asked what would most improve financial security, Americans 50+ ranked having predictable monthly income (56%) as their top answer.
Concerns About the Future, and Regrets About the Past
Among surveyed Americans age 50 and older, financial concerns were a common theme, with both external uncertainties and past decisions reported as influences on their outlook. Within this sample, many reflected on what they would have done differently, while also navigating present-day concerns.
Uncertainty around Social Security was associated with elevated financial concerns among this group, with 55% of respondents saying it has influenced how they think about retirement. Regrets about saving habits were also common: 39% wished they had started saving earlier, and an equal share wished they had saved more consistently throughout their careers.
If the findings from this survey resonate with you, it may be a helpful time to reflect on your own retirement strategy. Whether you're still a few years from retirement or already there, common considerations include reviewing contributions to employer-sponsored plans and exploring options like an IRA. Individuals should consult a qualified financial professional regarding their personal situation.
Among surveyed respondents, the desire for stable monthly income emerged as one of the strongest themes. For those who feel behind, saving for retirement at 50 and beyond may be more approachable than it seems, and reflecting on one's overall financial picture can be a helpful starting point.
Methodology
We surveyed 1,014 U.S. adults age 50 and older to explore how Americans approach retirement today. Respondents spanned two generations, Gen X (64%) and baby boomers and older (36%), with an age range of 50 to 84 and an average age of 60. The sample included a mix of retirement statuses: 65% not retired (37% not planning to retire for at least 5 more years, and 28% planning to retire within the next 5 years) and 35% retired (20% fully retired, and 15% semi-retired and drawing retirement income while working part-time or occasionally). By gender, 65% identified as women and 35% as men. Data was collected in April 2026.
About Western & Southern Financial Group
Founded in Cincinnati in 1888 as The Western and Southern Life Insurance Company, Western & Southern Financial Group, Inc., is No. 310 on the Fortune 500® and the parent company of a group of diversified financial services businesses. It serves 6.3 million customers — individuals, families, businesses, foundations and nonprofits — with a wide range of insurance, investment and retirement solutions through an ever-growing distribution system. Assets owned ($90.0 billion) and managed ($42.3 billion) totaled $132.5 billion as of Mar. 31, 2026.1 Western & Southern is one of the strongest life insurance groups in the world, with seven life insurance subsidiaries that maintain very strong financial strength ratings. For more information, visit westernsouthern.com.
1 The financial information presented here is preliminary and unaudited.
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