People look forward to retirement because it allows them to enjoy the fruits of their labor, spend more time with loved ones, pursue hobbies, and travel. Seven in 10 (69%) Americans plan to retire, but of those who don’t think they will, 42 percent believe that they will never have enough savings to do so.
That’s according to a new survey of 2,000 adults split evenly by generation, where 22 percent of Gen Z, 19 percent of millennials and 18 percent of Gen X don’t believe retirement is in their future.
Most Americans struggling to accomplish life goals
Despite approaching their 60s, 37 percent of Gen Xers say they won’t be retiring within the next 10 years. In addition to their savings concerns, respondents plan to keep working in fear that they need their income to support their family (21%) or because they started planning too late (22%).
About one-quarter (26%) admit the fact that they never started planning for retirement will likely deter them entirely. Additionally, seven in 10 (71%) of respondents feel they are behind on certain life goals they thought they’d reach by now. These goals include their living situation (51%), career path (47%) and starting a family (41%).
Conducted by OnePoll on behalf of Prudential, results found 52 percent also admit they’ve fallen short of the amount of retirement savings they planned to have by now. And the retirement planning mindset varies greatly by generation. Forty-five percent of Gen Zers started thinking about retirement before the age of 20 and another 33 percent had it top of mind in their 20s.
On the flip side, one in 10 Gen Xers admit they still haven’t started thinking about it, more than any other generation. In fact, almost one-third (29%) of Gen Z think about retirement “always”, while 50 percent of baby boomers say it crosses their mind “often.”
However, if respondents were hypothetically to retire tomorrow, millennials feel the most prepared (71%), compared to 66 percent of Gen Z and 62 percent of Gen Xers.
“The survey data show that many Americans need help when it comes to reaching their retirement and other financial goals,” says head of Prudential Financial’s Direct-to-Consumer business, Michelle Samuel. “Many people have been saving, but they want a better handle on where they are. Others aren’t confident they’ll be able to stop working, and they need guidance to show them a path to retirement.”
How to plan for retirement
Almost one third of Americans (28%) said that they do not have a strong understanding of what to do to plan for retirement. This was not a surprising finding when many aren’t familiar with the most common financial products used in retirement planning.
More than half of Americans (59%) don’t have a 401(k), one of the primary savings vehicles for retirement. Of those who do, 21 percent don’t know how much money they have.
On top of that, the majority of respondents either don’t have or don’t know what IRAs (65%) or annuities (72%) are. Similarly, two in five (42%) don’t have life insurance and another 11 percent don’t know what it is.
Retirement is not the only area where people aren’t planning in advance. Three-quarters (75%) of respondents spend less than a year planning for major financial decisions, with 15 percent of Gen Zers spending one week or less.
“The good news is that there are places people can turn to for help. Consumers can tap into online tools to get a better read on where they stand and some next steps,” says Samuel. “They can also find a trusted advisor, including virtual advisors who make it easy to get people started from the comfort of their home.”
Survey methodology:
This random double-opt-in survey of 2,000 Americans split evenly by generation (500 Gen Z, 500 millennials, 500 Gen X and 500 baby boomers) was commissioned by Prudential between March 23 and March 28, 2023. It was conducted by market research company OnePoll, whose team members are members of the Market Research Society and have corporate membership to the American Association for Public Opinion Research (AAPOR) and the European Society for Opinion and Marketing Research (ESOMAR).
Article cross-posted from Study Finds.
Bypass Big Tech Censors
Two Storms, One Harvest
Every food crisis in living memory has been a one-shock event. The 2008 price spike was a commodity bubble. The 2020 shortages were a logistics failure. The 2022 grain scare was a war on one exporter’s ports. Each time, the system bent, adjusted, and recovered, and each time the experts assured us afterward that global markets are simply too big and too diversified to fail.
What nobody in Washington seems eager to discuss is that 2026 is shaping up to be something the modern food system has never actually faced. Two independent shocks, one climatic and one geopolitical, are converging on the same harvest cycle at the same time. Not sequentially. Simultaneously.
Start with the weather. The Pacific Ocean is currently building toward what forecasters now openly call a record event. NOAA’s Climate Prediction Center puts the odds of at least a strong El Niño near 88 percent, with roughly two in three odds it reaches “very strong” status, the tier reserved for perhaps three or four events in the entire satellite era. Every major global model now projects a median peak in Super El Niño territory, and most of them project it exceeding the 2015-16 event, which until now held the modern record. Sea surface anomalies were already brushing the super threshold in mid-July, months before these events normally peak. The atmosphere has already shifted into El Niño mode, and the event is forecast to crest in late fall and early winter.
This is not about “climate change.” It’s about the standard cycles of weather, and the cycle we’re currently in is one that has likely devastated societies in the past. We’re better prepared as a society today, but not all Americans are equally prepared.
Serious households have started doing the quiet math on their own. Grocery bills tell part of the story, and the forecast maps tell the rest, which is why long-term food storage has moved from fringe hobby to mainstream line item in the family budget, with established suppliers like Heaven’s Harvest seeing demand from people who five years ago would have rolled their eyes at the idea. That instinct is not paranoia. It is pattern recognition, and the pattern is worth walking through carefully.
Editor’s Note: Heaven’s Harvest IS a sponsor, but the warnings of this article are real and would be written even if we didn’t have a survival food sponsor. With that said, those who take advantage of what they offer can use promo code “Patriot” for 15% off.
The Fertilizer Clock Is Already Running
While the Pacific warms, the second shock has been unfolding in the Strait of Hormuz. The conflict with Iran turned the world’s most important energy chokepoint into a contested waterway, and the consequences reach far beyond the gas pump. Roughly a third of global fertilizer trade moves through Hormuz, and the disruption sent urea prices up 86 percent year over year by March, with a 53 percent jump in a single month.
The World Bank projects energy prices rising about 24 percent in 2026 and fertilizer about 31 percent. By its own accounting, fertilizer prices ran 35 percent higher in the first five months of this year than the same period last year.
Here is the mechanism the nightly news will not explain. Fertilizer is not a grocery item. It is a time-delayed input. The nitrogen a farmer in Iowa or Punjab could not afford to apply this spring does not show up as a problem this spring. It shows up as a thinner harvest six to twelve months later.
The World Bank’s own food security brief concedes that the effects of reduced applications earlier this season “are likely to become visible only later in harvest outcomes.” Translate that from institutional language into plain English and it means this. The damage is already done, it is already in the ground, and we are simply waiting for it to arrive on the shelf.
Now check the calendar. Six to twelve months from the spring planting season lands us squarely in late 2026 and early 2027. Which is precisely when the strongest El Niño in the instrumental record is forecast to peak, bringing its signature droughts to Southeast Asia, Australia, southern Africa, northern Brazil, and South Asia, the very regions that grow the world’s rice, sugar, and oilseeds.
The World Bank warns openly that a strong El Niño “could disrupt multiple crop belts simultaneously” on top of the conflict-driven input costs. Their baseline projection assumes the Middle East disruptions ease by autumn. What in the last two years of Middle East history suggests that assumption is safe?
The System Has No Slack Left
The comfortable answer is that global markets always adjust. But adjustment requires slack, and the slack is gone. Global cereal production is expected to decline from last year’s records even before El Niño does its work. The UN World Food Programme, hardly a den of right-wing preppers, is calling this the most significant disruption to its supply chains since Covid and the invasion of Ukraine, and its supply chain director put the stakes bluntly.
Today’s supply chain challenges are tomorrow’s hunger crisis.
There is also a political dimension that markets cannot price. When food gets scarce, governments do not behave like economists. They behave like politicians. Export bans, hoarding mandates, and panic buying at the national level turned the modest rice shortfall of 2008 into a global crisis, and analysts are already warning that import-dependent nations are the first dominoes.
The 2015-16 Super El Niño, a far weaker event than what is now forecast, threw tens of millions into food stress across Africa and Asia. This one is projected to be stronger, and it arrives with fertilizer already rationed by price and shipping lanes already contested by missiles.
What Joseph Knew
Scripture does not treat preparation for lean years as faithlessness. It treats it as wisdom delivered in advance to those willing to act on it.
Behold, there come seven years of great plenty throughout all the land of Egypt: And there shall arise after them seven years of famine; and all the plenty shall be forgotten in the land of Egypt.
Joseph did not respond to that warning with a hashtag or a committee. He stored grain during the years of abundance, and when the famine came, Egypt stood while its neighbors begged. The lesson is not that famine is certain. It is that the time to prepare is precisely when preparation still looks optional.
Nobody who filled a pantry in a year of plenty has ever regretted it, and nobody standing in an empty aisle has ever been glad he waited for certainty.
None of this calls for panic, and panic is the enemy of sound judgment anyway. It calls for the same unglamorous prudence our grandparents considered ordinary. Keep some cash margin, know your local growers, and put real food in deep storage while it is cheap and available, because the entire arc of this story is that cheap and available is a closing window.
Families looking for a straightforward place to start can visit Heaven’s Harvest and use promo code Patriot for 15 percent off long-term storable food. The forecasts may yet soften, the strait may yet reopen, and we should pray they do. But hope is a fine thing to hold and a foolish thing to eat.