by John Darer CLU ChFC MSSC CeFT RSP CLTC Updated 2026
Key findings include:
- Retirement timing and resilience: Retirement often happens earlier than expected: 59% of surveyed retirees report leaving the workforce earlier than anticipated, while only 6% retired later than planned. Health status changes are the primary reason for earlier retirement among lower-income retirees.
- Financial shocks and unexpected expenses: Pre-retirees, defined as respondents who have not yet retired, are experiencing more financial shocks:
- 29% of pre-retirees experienced a family emergency requiring use of 10% or more of their savings; a large increase from the prior survey
Almost 50% of Americans between the ages 45-70 have no financial plans in place to protect themselves against outliving their assets and the rising cost of healthcare should they live longer than they expected, according to a new survey released today by the Society of Actuaries (SOA). Additional findings show more than one-third are worried about running out of money during retirement, but only 20 percent plan to purchase an annuity or other form of guaranteed lifetime income to protect their assets.
Plaintiffs, claimants and attorneys should not fail to consider a balanced approach and plan for longevity risk as well as other exposures such as disability, long term care, the loss of income and physical support of a spouse due to death or diability. Those who avoid even considering structured settlements, annuities, life insurance, disability insurance, healthcare financing methods such as Healthcare Savings Accounts (HSA), or long term care insurance could be left holding the bag. For example, if you are parents of a child with a profound disability, as part of your overall financial planning, be sure to account for your own needs with your own resources, in addition to considering the needs of the child.
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Related Reading
Financial Shocks, Caregiving Gaps and Inflation Pressures Persist in Society of Actuaries Retirement Risk Survey Findings 2026 Source: Society of Actuarues May 7, 2026
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