Americans want to embrace new opportunities in retirement, but financial and physical wellness lag

Guardian's "Retirement Redefined" report finds those working with a financial consultant feel better prepared for retirement and report better overall well-being

NEW YORK, Oct. 13, 2025 /PRNewswire/ -- A new report from The Guardian Life Insurance Company of America^® (Guardian) reveals that Americans' shifting lifestyles are reshaping retirement.

Download the full Retirement Redefined report here: http://www.guardianlife.com/reports/retirement-redefined.

Longevity drives new opportunities and unanticipated challenges in retirement
As Americans live longer, many are eager to make the most of their retirement years. According to the report, 54% of retirees say they are in good financial health, providing them with the financial freedom to pursue passions, travel to dream destinations, or spend quality time with family. To fund a longer retirement, however, 73% of people say they plan to continue working part-time in retirement.

Enjoying a longer retirement also means staying physically healthy. Unfortunately, only 39% of current workers and 40% of retirees rate their health as very good or excellent. Overall, 47% of retirees thought they'd be in better health in retirement.

Longevity also impacts Americans' mental and emotional wellness. Although 60% of retirees say they have good mental health, 34% said they didn't expect to feel so bored or miss their careers. Additionally, 27% were surprised by how lonely they feel or by how little time they are spending with family in retirement.

A redefined retirement requires better planning and preparation
To support their well-being in retirement, many retirees and workers are taking a close look at their planning strategies. One in five retirees have regrets about how they've prepared for retirement. With future lifespan anticipated to increase, today's workers are even more concerned—40% say they have regrets about how they've prepared financially for retirement.

As Americans live and work longer, more education about retirement income sources is needed. For example, despite Americans saying their top financial concerns are not having enough money to last through retirement and not having a source of guaranteed income in retirement, just 30% of workers know that annuities can provide guaranteed income for life. Younger workers face similar education gaps. Despite a steep decline in the number of workers with access to a pension, 55% of Gen Z expect to use a pension in retirement.

"Today's retirement is as unique as the people entering it," said Erin Culek, Head of Financial Protection and Retirement Solutions at Guardian. "No matter their plans for their next chapter, people should feel confident in their retirement savings. Annuities and other alternative income sources can provide that financial confidence and help Americans define retirement on their own terms."

Working with a financial consultant can improve retirement readiness
Whether helping to plan for tax liabilities, adjusting investment strategies as retirement nears, or assessing various income stream options, the study found that people who report working with a financial consultant are more likely to say they are on track for retirement.

Despite the benefits, the report found that less than half of retirees (48%) and current workers (40%) have sought guidance from a financial consultant.

Other takeaways from the Retirement Redefined report include:
Impact of financial health on mental and physical health

• 75% of retirees who report feeling very prepared for retirement also have high emotional health.
• 86% of retirees who self-report great emotional health also say they have great physical health.
• Among retirees who did not feel prepared for retirement, more than a third say their physical health is one of the most stressful aspects of their life.
• 49% of retirees with low well-being didn't expect to feel so isolated or thought they'd spend more time with family in retirement.

Retirement expectations often differ from reality

• 84% of workers expect to retire at a specific age, but only 52% actually retired then.
• 39% of retirees say they moved up their retirement age.
• 20% of retirees left the workforce because their or a loved one's health began to deteriorate. Twelve percent left because they lost their job.

A copy of the full Retirement Redefined report is available here: http://www.guardianlife.com/reports/retirement-redefined.

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About Guardian
Guardian makes a difference in the lives of people when they need us most. With 165 years of stability and fiscal integrity, we are a trusted resource to generations of families and business owners, inspiring well-being and helping build financial confidence. Today, we stand behind millions of consumers, helping them prepare and plan for a bright future for themselves and their families. We help business owners care for their employees. And we help people recover and thrive in times of unexpected loss. As a modern mutual insurance company, we believe in driving value beyond dividends. We invest in our colleagues, are building an inclusive and innovative culture, and are helping to uplift communities through thoughtful corporate impact programs. Guardian, which is based in New York City, is a leading provider of life, disability, dental, and other benefits, and has received accolades for its culture and service. Our colleagues and financial professionals serve with care and experience, and our commitments rest on a strong financial foundation, which included a 2025 dividend allocation of $1.6 billion – the largest in the company's history. For more information, visit guardianlife.com or follow us on Facebook, LinkedIn, and YouTube.

Disclaimer
Dividends are not guaranteed. They are declared annually by Guardian's Board of Directors. The total dividend calculation includes mortality experience and expense management as well as investment results.

All guarantees are backed by the strength and claims paying ability of the issuing insurance company.

Financial information concerning Guardian as of December 31, 2024, on a statutory basis: Admitted assets = $86.8 billion; liabilities = $77.5 billion (including $60.7 billion of reserves); and surplus = $9.3 billion.

All data is sourced from Guardian's Retirement Redefined report.

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SOURCE Guardian