Windsor, Conn. – September 17, 2026 -- Nearly six in ten pre-retirees (59%) rate themselves highly prepared for retirement, yet 76% have either no written plan or spent fewer than five hours in the past year developing, reviewing, or updating one, according to LIMRA's 2026 Retirement Income Readiness Report.
Confidence outpaces action among workers nearing retirement
The survey found 88% of pre-retirees — defined as workers age 45 and older planning to retire within 10 years — say they have thought about how they'll generate income after leaving the workforce. But half (50%) either lack a written retirement plan or have one they haven't updated recently, exposing a gap between stated confidence and actual planning behavior.
Social media use outpaces retirement planning time
More than a quarter of pre-retirees (26%) spent fewer than five hours in the past year on retirement planning. By comparison, DataReportal's Digital 2026 Global Overview estimates Americans age 45 and older spend 1.5 to 2 hours daily on social media — 10 to 14 hours weekly — meaning a single week of scrolling can exceed a full year of retirement planning for many nearing retirement.
Tina Beckwith, Chief Marketing Officer at LIMRA, said thinking about retirement is a good start, but having a plan and actively engaging in the process strengthens preparedness. She noted that while people cannot control markets or inflation, they can control the decision to build a plan.
Financial advisor use remains low despite strong impact on preparedness
Pre-retirees working with a financial advisor or planner are far more likely to feel highly prepared — 77% versus 47% of those without one — yet only 40% currently use an advisor. LIMRA's data show that written plans and professional guidance each contribute independently to preparedness, separate from savings levels alone.
LIMRA proposes a three-question readiness check for consumers
The report outlines three factors — Readiness, Resilience, and Retirement Income — covering whether consumers have a current written plan, whether that plan accounts for inflation, market swings, and healthcare costs, and whether they understand how savings will convert into lasting income. LIMRA's survey drew on responses from 486 pre-retirees and 804 retirees age 45 and older, fielded in April 2026.