The new American retirement fear: working until you die

In times of economic strain, many Americans now believe their worst fear is becoming reality: they won't be able to retire at all. A WalletHub survey revealed that more than two-fifths of Americans — 43% — expect to work until they die. Nearly two-fifths (39%) say retirement makes them anxious, while more than one in four (29%) depend on family support once they stop working.

Retirement worry is not new in the U.S., with Gallup consistently finding Americans worried about having enough money for retirement since 2001. However, recent inflation and market volatility exacerbate the anxiety. A National Institute on Retirement Security report found that among those concerned about financial security, 73% attribute the issue to inflation, and 62% point to market volatility.

Debt further strains the situation, with 74% of respondents citing it as a problem, and 77% saying it hinders their ability to save adequately. Despite these challenges, Americans still value retirement benefits, with 75% of current workers considering them important when evaluating job opportunities. However, 50% of respondents believe retiring comfortably is unrealistic for the average American.

While some choose to work indefinitely by choice, the majority view this as a source of dread. Recent developments, such as the growing skepticism towards cryptocurrency and artificial intelligence in retirement planning, add further complexity to the issue.