Study: Two-Thirds of Americans Fear Financial Ruin More Than Death

Recent surveys indicate that a majority of Americans now fear running out of money in retirement more than death itself, with this sentiment strongest among Gen Xers and also prevalent among millennials and baby boomers. The Allianz 2025 Annual Retirement Study found that 64% of respondents across generations share this anxiety, primarily driven by concerns about high inflation, inadequate Social Security benefits, and high taxes. Despite these fears, most Americans are not saving as much for retirement as they would like, often citing rising consumer prices and economic volatility as primary obstacles. Additionally, the median retirement savings fall far short of the estimated amount needed for a comfortable retirement, exacerbating worries about financial instability in later life. Experts suggest that working with financial advisors could help individuals develop strategies to better protect their savings and alleviate some of these concerns. These findings underscore a deepening sense of economic unease and highlight the significant impact of inflation and policy uncertainty on personal financial outlooks.