Arizona Tribune - AmeriLife Survey: Less Than Half of Millennials and Gen X Feel They're Taking the Right Financial Steps for Retirement

CLEARWATER, FL / ACCESS Newswire / June 23, 2026 / A new survey commissioned by AmeriLife reveals that fewer than half (47%) of Americans in their peak earning years feel they are on track to meet their retirement goals, highlighting a significant confidence gap fueled by limited financial knowledge and insufficient access to professional guidance.

The online survey of 2,000 U.S. adults ages 30-61, conducted by Atomik Research, also found that nearly one in four respondents (24%) said it is "very true" that their lack of financial knowledge holds them back from investing to achieve their financial goals, with another 23% saying it is somewhat true.

At the same time, only 47% say they have adequate access to qualified financial professionals who can help them achieve those goals, highlighting a disconnect between need and support.

"Americans today are navigating an increasingly complex retirement landscape, and many are doing so without the level of clarity or confidence they need," said Todd Buchanan, President, AmeriLife Wealth. "This research shows that the challenge isn't just about saving, but also about understanding how to turn those savings into a sound retirement strategy."

Lower Confidence Among Gen X and Women

Gen X respondents report lower confidence in their retirement readiness than Millennials (39% vs. 55%), while a gender gap persists, with 52% of men versus 41% of women saying they are on track, underscoring opportunities for more targeted education and engagement.

Income Improves Confidence, but Not Clarity in Retirement Planning

While respondents earning $50,000 or more show higher levels of confidence, it's clear that income alone does not eliminate the need for guidance. While nearly two-thirds (63%) say they are taking the right financial steps toward retirement, more than one-third (37%) are either unsure or not on track.

Additionally, nearly half of those earning $50,000 or more (47%) say their lack of knowledge prevents them from investing to reach their financial goals.

This uncertainty extends to retirement income strategies. Among those earning $50,000 or more, only 36% own an annuity, while nearly half (48%) report confusion around competing viewpoints. These findings show that higher income boosts confidence but does not eliminate the need for clearer guidance and education.

Lack of Knowledge About Retirement Income Planning and Annuities

The survey also revealed a significant lack of familiarity with key retirement income products, including annuities, despite high interest in solutions that provide stability and protection.

• Nearly half (44%) of respondents say they are not sure how annuities fit into an investment portfolio

  • Women are 33% more likely than men to be unsure

• More than half (55%) say they are confused by competing viewpoints about annuities (27% say they are extremely confused; 28% somewhat confused)

• Only 17% give themselves an "A" for understanding annuities

  • 38% of Gen X respondents give themselves the worst grades (D or F)

More than half of respondents (54%) said they would be likely to include an annuity in their retirement plan if it offered guaranteed lifetime income while protecting their principal from market losses.

Lack of Time and Resources for Research

In addition to knowledge gaps, time constraints may also be a barrier to better retirement planning.

• 21% of respondents say they do not have enough time to research how annuities could help them reach their financial goals

• 27% say they have some time, but not enough to fully evaluate their options

Nearly a third of respondents (32%) report having no primary source of information about annuities, and among those who do, most rely on friends and family, suggesting limited access to professional guidance may be hindering informed decision-making.

Annuity Owners Wish They Knew Earlier

While only 21% of respondents currently have an annuity, those who do report strong hindsight conviction in their decision, with 88% saying they wish they had been educated about the benefits of annuities earlier. This reinforces the importance of earlier engagement and clearer education around retirement income planning.

Closing the Knowledge Gap

As National Annuity Awareness Month brings renewed focus to retirement income strategies, the survey highlights a critical opportunity to improve financial literacy and expand access to education.

"Americans are clearly looking for ways to feel more secure about their financial future," Buchanan added. "Bridging the knowledge gap is key to helping more people move from uncertainty to confidence in their retirement planning."

Survey Methodology

AmeriLife commissioned Atomik Research to conduct an online survey of 2,000 U.S. adults ages 30-61, including 1,000 Millennials (ages 30-45) and 1,000 Gen X respondents (ages 46-61). The survey was fielded between May 27 and June 1, 2026. The margin of error is +/- 2 percentage points with a confidence level of 95%.

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About AmeriLife

AmeriLife's strength lies in its mission: to provide insurance and retirement solutions that help people live longer, healthier lives. AmeriLife develops, markets, and distributes life and health insurance, annuities, and retirement planning solutions to enhance the lives of pre-retirees and retirees across the United States. For more than 50 years, AmeriLife has partnered with top insurance carriers to provide value and quality to customers through a national distribution network of more than 325,000 agents, financial professionals, and more than 160 marketing organizations and insurance agencies. For more information, visit AmeriLife.com and follow AmeriLife on LinkedIn.

Contacts:

Media

Jeff Maldonado
AmeriLife
[email protected]

Partnership Inquiries

Michael Tobitsch
AmeriLife
[email protected]

SOURCE: AmeriLife

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H.Thompson--AT