35% of workers say their expected retirement age has moved later over the past three years, with 64% citing rising living costs as a major barrier.
More than half of workers (51%) say they’re behind on retirement savings or haven’t started saving, while 32% aren’t confident they’ll ever be able to fully retire.
Career expert Dr. Jasmine Escalera recommends focusing on earning potential, taking full advantage of employer retirement benefits, and exploring additional income opportunities when possible.
For many Americans, retirement is supposed to be the point when they can finally step away from work and enjoy more freedom. But for a growing number of workers, that milestone is starting to feel further out of reach.
New research suggests that rising costs and concerns about having enough savings are causing many people to rethink when — or even whether — they’ll be able to retire.
According to MyPerfectResume’s Retirement Reality Gap Report, 35% of workers say their expected retirement age has gotten later over the past three years. Meanwhile, 64% say the cost of living is making it harder to retire as early as they would like.
ConsumerAffairs spoke with career expert Dr. Jasmine Escalera who explained what’s behind these changing expectations and what workers can consider as they plan for the future.
Absolutely. I’d keep this pretty tight so it gives readers the methodology without bogging down the story.
What the survey found
MyPerfectResume’s findings are based on a national survey of 1,000 U.S. workers conducted through Pollfish in May 2026. Respondents answered a combination of single-selection and multiple-choice questions about their retirement expectations, savings progress, confidence about retiring, barriers to early retirement, and views on the Financial Independence, Retire Early (FIRE) movement. The survey included respondents across a range of ages, from 18 to 65 and older.
The results point to a growing gap between when workers would like to retire and when they believe they realistically can. Here’s a look at the key findings:
35% say their expected retirement age has moved later over the past three years.
55% expect to retire at 65 or later.
64% said rising expenses are keeping them from retiring as early as they would like.
More than half of workers (51%) say they are behind on their retirement savings or haven't started saving.
32% aren't confident they'll ever be able to fully retire.
51% say retiring before 60 isn't realistic for someone with a typical full-time job.
71% say the FIRE approach is unrealistic for most people or is mainly achievable for high earners and wealthy households.
The impact on career
With 35% of respondents saying they’re delaying retirement due to living costs, Dr. Escalera says this can also have impacts on long-term career goals and expectations.
“Staying employable for longer becomes a major consideration,” Dr. Escalera said. “Workers may need to think about keeping their skills current or whether the work they're doing today is something they can realistically continue doing later in life.
“If people are going to spend more years in the workforce than they originally planned, they may need to start thinking earlier about how their careers can evolve with them.”
She also said that some workers may consider secondary sources of income, such as part-time work, consulting, or freelance opportunities, to build a greater financial cushion for the future.
“For workers considering this path, it's important to weigh the additional income against the impact that working more may have on their careers and other areas of their lives,” Dr. Escalera said.
Getting on track with retirement saving
If saving for retirement feels out of reach, Dr. Escalera has some tips.
“A great immediate first step is to assess whether there are opportunities in your career to increase your earning potential,” she said. “That could mean exploring whether a raise or promotion is possible in your current role, or considering whether your skills and experience could get you a higher salary elsewhere.
“It's also important to understand the retirement benefits available through your current job, including whether your employer offers a retirement match and whether you're taking full advantage of it.”
Is retirement possible?
The survey also found that 14% of respondents don’t think retirement will ever be possible. Dr. Escalera hopes that consumers don’t give up hope here. Instead, she recommends planning as soon as possible.
“If retirement feels unattainable right now, one of the best things a worker can do is get a clearer understanding of what might actually be possible based on their income, expenses, savings, and current financial situation,” she said. “That could mean finding out whether your company offers access to financial planning resources or looking for organizations that provide free or low-cost financial education and support.
“When facing financial pressure, it can be really difficult to imagine a future in which retirement is possible. Getting support from someone who understands retirement planning can help you think through what that future could realistically look like and create a plan to start working toward it.”