For generations, the American Dream meant working diligently for decades, building a nest egg or earning a pension and retiring in your early 60s to enjoy a life of leisure.
This became increasingly popular following Social Security’s introduction of early retirement at age 62. It was a milestone workers could count on, a promise of stability and a reward after a lifetime of work.
But today, retirement is less about a fixed age or generic formula and more about choice. Rising living costs and market shifts are real, yet just as important are the personal questions: What do I want these years to look like? How will I remain fulfilled?
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Kiplinger’s Adviser Intel, formerly known as Building Wealth, is a curated network of trusted financial professionals who share expert insights on wealth building and preservation. Contributors, including fiduciary financial planners, wealth managers, CEOs and attorneys, provide actionable advice about retirement planning, estate planning, tax strategies and more. Experts are invited to contribute and do not pay to be included, so you can trust their advice is honest and valuable.
In 2025, 70% of pre-retirees over 50 indicated they are rethinking or delaying their planned retirement date, according to a recent survey from F&G, a life insurance and annuity provider.
In fact, almost a quarter (23%) said they are definitely putting retirement on hold, up 14% from 2024 — this just goes to show how people nearing retirement age are growing more worried about both financial readiness and personal fulfillment.
However, there is a way for American investors to regain confidence in their outlook: By shifting the focus from a purely financial decision to a holistic view of the life they desire, pre-retirees can reclaim confidence and approach retirement not as a deadline, but as a new chapter on their own terms.
What grade would you give yourself?
Retirement looks different for everyone, and many aren’t giving themselves the highest marks when self-assessing their readiness.
As someone who previously retired and then returned to full-time work, I know what it’s like to question your original plans and wonder whether you’re making the “right” choice.
Notably, this year’s survey found that when grading themselves on their financial readiness for retirement, only 26% of respondents gave themselves an A — and 32% gave themselves a C or worse.
This underscores that making retirement decisions is significant, although not everyone is consulting a financial professional before making those big choices. Alarmingly, 47% are not currently using a financial adviser, compared with 43% in 2024.
Personal fulfillment plays a role
But financial readiness isn’t the only part of the equation. Many Americans feel they are falling short in terms of how fulfilled they are in retirement. Just 28% graded themselves an A when it comes to personal fulfillment, while another 28% gave themselves a C or worse.
This reflects something that weighs heavily on many Americans’ minds: How will I keep my sense of personal fulfillment when I stop working?
After being in the workforce for so many years, breaking that routine can be a harsh adjustment.
I experienced this feeling myself — when I first retired, what drew me back to the workforce wasn’t financial pressures, but the desire for a challenge, sense of purpose, and the camaraderie that comes from being part of a team.
It’s a reminder that retirement is not just about reaching a number, but about creating a life that continues to feel meaningful.
As true as it is in school, it’s OK to ask for a tutor to make the grade. Making retirement decisions is complex and important, and financial professionals can play a key role in advising you on how to meet both your personal and financial goals.
After all, retirement isn’t just about how much you have saved, but what your life will actually look like in retirement.
Financial professionals can help guide you to align your financial plans with the kind of lifestyle you truly want in your later years.
Turning market volatility into opportunity
Gen X is particularly vulnerable — while half of our survey respondents cited economic volatility as the reason that they’re pushing back retirement or returning to work, nearly two-thirds (64%) of Gen X made the same claim.
For those about to retire, volatility isn’t some abstract concept — it’s directly shaping the timing and structure of their next chapter.
However, building a flexible, resilient retirement plan can ease these concerns.
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As a former financial adviser, I encourage you to familiarize yourself with your financial landscape: the state of your spending, savings, investments and any anticipated income streams you may have lined up — whether through part-time work for financial or personal reasons.
From there, identify gaps in your current plan, explore alternative income sources, and prioritize spending in alignment with long-term goals.
One retirement tool I find many Americans often overlook is annuities, which give investors the opportunity to pursue growth potential with an added layer of protection.
In fact, our survey found that only 26% of American investors over age 50 own one.
An annuity can help ease the burden of market fluctuations on a portfolio while providing peace of mind that one’s savings can be structured into a guaranteed income stream for life.
That being said, everyone’s retirement journey looks different, and a financial professional can help determine whether an annuity fits into your overall plan.
Regaining confidence in your retirement plan
While economic volatility and financial market uncertainty may complicate your original retirement plans, a proactive and intentional approach can help put you back in the driver’s seat.
Don’t be reactive or wait — take the initiative to speak with a financial professional to help design a road map tailored to your needs.
After all, it’s critical to remember that retirement planning isn’t all about numbers. The 33% of respondents who cited not wanting to feel a lack of purpose as their reason for considering “unretiring” understand that it’s about envisioning the life you want to live.
Spend time clarifying your priorities, whether it be traveling, spending time with loved ones, or picking up a part-time job to feel a sense of purpose.
By intertwining your financial plan with your personal goals, you ultimately create a more holistic roadmap that balances security with fulfillment, helping you make choices with confidence as opposed to anxiety and uncertainty.
Note: This survey was conducted online by ROI Rocket. The survey was fielded from May 9th to May 26th, 2025, among a nationally representative sample of 2,000 U.S. adults. Respondents were Americans ages 50+, who are financial decision-makers and have $100K+ in financial products/savings.
