Prudential Survey Reveals Retirees' Reluctance to Spend Savings…

Event summary

Prudential's 2026 Retirement Pulse survey found 86% of retirees don't feel free to spend their savings on enjoyable activities.
61% of retirees with $500K+ in investable assets still feel uncomfortable spending for enjoyment.
54% of respondents would rather leave money behind than risk running out in retirement.
Only 23% of pre-retirees have a clear retirement plan, and just 16% have a withdrawal strategy.

The big picture

Prudential's survey highlights a growing challenge in the retirement industry: helping retirees transition from saving to spending. This psychological barrier presents an opportunity for financial services firms to develop new products and advisory services that provide retirees with the confidence to enjoy their savings. The findings underscore the need for clearer withdrawal strategies and guaranteed income solutions in an industry that has traditionally focused on accumulation.

What we're watching

Behavioral Shift: How Prudential will address the psychological barriers preventing retirees from spending their savings.
Product Innovation: Whether Prudential can develop new financial products that ease retirees' fear of running out of money.
Advisory Demand: The pace at which retirees will seek financial advice to navigate the transition from saving to spending.