LIMRA: Many Americans Spend More Time on Social Media in a Week Than on Retirement Planning All Year

Nearly 6 in 10 pre-retirees say they feel highly prepared for retirement. But new LIMRA research finds that confidence often outpaces action — 76% either have no written plan or have spent fewer than five hours on one in the past year. 

WINDSOR, Conn., Sept. 14, 2026 /PRNewswire/ -- Many Americans approaching retirement spend more time scrolling social media in a single week than they spend planning for retirement in an entire year. That is one of the more striking takeaways from new research from LIMRA's 2026 Retirement Income Readiness Report, which finds a wide gap between how prepared Americans feel for retirement and how much they are actually doing to prepare.

Nearly six in ten pre-retirees (59%) — workers age 45 and older who plan to retire within 10 years — rate themselves highly prepared for retirement, and 88% say they have thought about how they'll generate income once they stop working. Yet that confidence and those good intentions are not always reflected in recent planning activity. Half of pre-retirees (50%) either have no written retirement plan or have one they haven't recently updated, and 76% have either no plan or spent fewer than five hours developing, reviewing, or updating one in the past year.

"Most Americans approaching retirement genuinely feel prepared, and that confidence matters," said Tina Beckwith, Chief Marketing Officer, LIMRA. "But confidence and planning activity do not always align. Many people who feel prepared have not put a written plan in place or have not revisited one recently. Thinking about retirement is a good start, but having a plan and actively engaging in the planning process can strengthen people's sense of preparedness for retirement."

A Week of Scrolling vs. a Year of Planning

The scale of the gap comes into focus with a simple comparison. More than a quarter of pre-retirees (26%) spent fewer than five hours in the past year planning for retirement. Meanwhile, Americans age 45 and older spend an estimated 1.5 to 2 hours a day on social media — roughly 10 to 14 hours in a single week, according to DataReportal's Digital 2026 Global Overview. For many people nearing retirement, one week of scrolling outpaces an entire year of retirement planning.

It's not that Americans aren't worried about retirement. Cost-of-living increases, healthcare expenses, inflation, and the fear of outliving their savings weigh heavily on pre-retirees and even those who feel fully prepared report anxiety about whether their money will last. The issue is that concern isn't consistently translating into preparation.

"When people spend more time on social media in a week than they spend planning for retirement in a year, the barrier clearly isn't awareness — it's action," Beckwith said. "The encouraging part is that planning is one of the few retirement variables people can actually control. You can't control the markets or inflation, but you can decide to make a plan — and that single decision changes how prepared people feel and how prepared they actually are."

Planning — Not Just Wealth — Drives Confidence

LIMRA's research shows that retirement preparedness isn't determined by savings alone. Planning behaviors and professional guidance each contribute meaningfully to how prepared consumers feel. Pre-retirees who work with a financial advisor or planner are far more likely to feel highly prepared — 77% versus 47% of those who don't — yet only 40% currently work with one. Consumers with a written retirement plan likewise report significantly higher preparedness than those without.

A Simple Way to Check Your Readiness: The Three "R's"

LIMRA's research highlights several factors that contribute meaningfully to how prepared consumers feel, including their financial resources, having a written plan, actively engaging in the planning process, working with a financial advisor or planner, and understanding how savings will generate income in retirement. Based on these findings, consumers approaching retirement can begin by considering three questions:

Readiness — Do I have the financial resources and a current written plan to support the retirement I envision?

Resilience — Does my plan account for risks such as inflation, market swings, healthcare expenses, and other unexpected costs?

Retirement Income — Do I know how I'll turn my savings into income that lasts?

Consumers who regularly revisit all three areas are more likely to feel confident about their retirement future. The takeaway from the research is ultimately an encouraging one: retirement confidence isn't reserved for the wealthy or the lucky. It's built — through planning, guidance, and a clear picture of where the income will come from. And it can start with an hour that might otherwise be spent scrolling.

About the Research

The Retirement Income Readiness Report is based on a LIMRA survey of 486 pre-retirees (workers age 45 and older who plan to retire within 10 years) and 804 retirees age 45 and older, fielded in April, 2026. Social media usage figures are drawn from DataReportal's Digital 2026 Global Overview Report, which estimates average daily social media use at roughly 1.5 to 2 hours for adults age 45–54 and under 90 minutes for adults age 55 and older.

About LIMRA

Serving the industry since 1916, LIMRA offers industry knowledge, insights, connections, and solutions to help more than 600 financial services member organizations navigate change with confidence. Visit LIMRA at www.limra.com.

SOURCE LIMRA