Listen to this articleThe basics:
- 87% of mass affluent adults confident in covering essential retirement costs, Prudential survey finds
- Fewer than one-third have a written retirement plan, factoring in inflation, health care & withdrawals
- Those with advisors more likely to cover non-essential expenses, use annuities for lifetime income
- Technology, mobile tools could boost engagement, especially among Millennials and Gen X
While mass affluent individuals are confident about how prepared they are for retirement, a recent report from Prudential Financial Inc. shows there’s still more work ahead to ensure a lifetime, dependable income.
Newark-based Prudential released results from its 2025 Global Retirement Pulse Survey at the end of October. It characterized the findings as “The Confidence Paradox.”
According to the study, 87% of mass affluent adults engaged believe they can cover essential costs once they stop working. However, just 41% have a financial advisor that can confirm the theory is sound.
The company said 4,200 mass affluent individuals in the U.S., Brazil, Mexico and Japan took part. For its purposes, Prudential defined mass affluent as people with more than $100,000 in investable assets, or the equivalent amount in each country. Brunswick Group conducted the online survey between Aug. 8–22, 2025.
Prudential Global Head of Retirement and Insurance Caroline Feeney noted a core principal of retirement planning is “envisioning your future self — the life you want and how you expect to fund it securely.”
While Pru has tracked the pulse of retirement for more than two decades, it said this year marks the first the evaluation has offered a worldwide perspective. Across the included markets, responses varied:
Opportunity awaits
Based on the survey, Japan holds the most compelling opportunity for deeper retirement planning. Only 16% have a written retirement plan; and 69% cannot clearly picture the life they want in retirement – or how to get there, Pru said.
- 87% confident in retirement savings
- Brazil 90%
- U.S. 89%
- Mexico 88%
- Japan 82%
- 41% have a financial advisor
- U.S. 61%
- Mexico 46%
- Brazil 35%
- Japan 21%
Prudential said just 32% have a written plan; less than half account for factors like inflation, health care and medical expenses; and only 25% have a withdrawal strategy.
The U.S. led with its utilization of financial planners (61%). Those who have an advisor expressed more confidence in the ability to cover non-essentials in retirement (86% vs. 68% without one). For essential expenses, the confidence figures fall much closer together: 94% for those with an advisor compared with 83% going it alone.
Feeney noted that “while many people feel ready, far fewer have taken action to ensure they’re ready,” according to the survey results.
Retirement redux
Driven by factors such as aging populations, longer lifespans, extended work, multiple career paths and more, “Retirement today is more fluid, more personal, and more complex than ever,” noted David Blanchett, head of retirement research at Prudential. “Whether you’re traveling, pursuing your passions, or caring for family, everyone needs an income strategy to fund a secure retirement.”
Retirement today is more fluid, more personal, and more complex than ever.
— David Blanchett, head of retirement research, Prudential
Prudential stressed the importance of being able to look ahead. According to the findings, those who can clearly picture their retirement are three times as likely to have a written plan.
Speaking to the changing retirement landscape, 83% of global mass affluent respondents – and 79% in the U.S. – said they would consider working in retirement. Meanwhile, future generations see an altogether different outlook. In the U.S., 1 in 5 believe groups like Generations Z and Alpha won’t have the option to fully retire the way it is thought of today.
Of parents surveyed, 91% placed importance on not becoming financially dependent on their children in retirement. On the flip side, 29% in the U.S. (compared with 38% worldwide) anticipate needing to support adult children financially.
Confidence boost
Prudential highlighted factors contributing to confidence in retirement planning. Beyond engaging a financial advisor and creating a written plan, having the “hard talk” also proved more successful for preparedness. Fewer than 3 in 5 couples reported discussing retirement planning. However, those that do are more likely to plan for key risks and expenses, the survey found:
- Health care 48% vs. 37%
- Taxes 42% vs. 31%
- Daily expenses 48% vs. 38%
- Inflation 53% vs. 45%
Stranger than fiction
39% of U.S. mass affluents are more likely to say they would feel comfortable relying on an AI-powered companion for emotional support in their later years. Respondents in Mexico (64%) were most likely.
With opportunity in the space, responses indicate mass affluent individuals want that human touch when it comes to advising. Less than half reported trusting AI advice as much as a human, Pru found. Trust was lowest in the U.S. (23%).
Technology can also offer an entryway, depending on the age group.
The survey found 63% of Millennials said they would be more active in planning for retirement if tools and advice were available in a mobile app. For Generation X, that figure dipped to 50% before dropping to 27% of Baby Boomers.
Make it work
Prudential said consumer preferences highlight the need for more guidance on how to use decumulation strategies to prepare accordingly for retirement.
“Guaranteed lifetime income creates a ‘license to spend,’” explained Blanchett. “Enabling people to be more financially independent and define what retirement security means for them.”
No strategy by generation
Millennials 28%
Gen X 30%
Boomers 19%
Worldwide, two-thirds of non-retired respondents said they prefer a guaranteed monthly check in retirement over a lump sum (66% in the U.S.). However, only 29% currently use annuities, which can deliver this type of lifetime income. Those who do work with a financial advisor are two times as likely to incorporate annuities.
Additionally just 24% in the U.S., along with Brazil and Mexico, are not currently using universal life insurance as a core part of their retirement strategy, according to the report.
For those with a clear plan, 91% say they’re confident they can cover nonessential expenses in retirement; and 96% feel the same for essential expenses (compared with 71% an 85%, respectively).
Respondents also indicated openness to another form of assistance — from their employers. The survey found 73% of mass affluents globally support their governments’ requiring access to lifetime income products within workplace retirement plans (75% in the U.S.).
