Two-thirds of Americans in Allianz’s 2026 retirement study said they fear outliving their money more than death, up 10 percentage points from 2022.
Rising costs, healthcare worries and market volatility are driving that stress, with 57% saying retirement-account losses make them anxious about their financial future.
Half of respondents said they immediately check their accounts after a market dip, and 34% typically withdraw investments to avoid further losses.
46% of Millennials said they pull money from the market during downturns, while 48% of Americans lack a written financial plan to guide decisions in volatile periods.
The report argues that retirement security depends on risk management, diversified income sources and planning for the years just before and after retirement, when market losses can do the most damage.
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Record Financial Anxiety in 2026: Why Most Americans Now Fear Running Out of Money More Than Death
Overview
As of the second quarter of 2026, Americans are facing record levels of financial anxiety, with a growing fear of outliving their savings now surpassing even the fear of death. This intense retirement anxiety has been fueled by persistent high inflation and a noticeable decline in personal savings rates, making people feel more vulnerable about their long-term financial stability. The economic landscape has clearly contributed to this heightened sense of insecurity, as more Americans worry about whether their money will last through retirement, highlighting a major shift in national sentiment and priorities.