Living on a prayer

The fear of failing to achieve retirement security is palpable in 2025, as investors contemplate how personal finances, demographics, economics, and public policy concerns have converged, making it harder than ever to answer the biggest question about life after work: “How much do I need to retire?”

Looking at factors such as longevity, inflation, and the sustainability of government benefits, the retirement fears of 7,050 individuals in 21 countries included in the 2025 Natixis Global Survey of Individual Investors indicate that many feel as though the deck is stacked against them.

Among the 6,057 respondents who are still working, 46% say it will take a miracle to be able to retire securely. Even crossing the finish line isn’t enough to ensure security, as 23% of the 993 retirees in the survey say they, too, are counting on divine intervention. Remarkably, this desperation comes from a sampling of affluent individuals with at least $100,000 in investable assets.

However, hopelessness isn’t universal. In the US, the number investors who are counting on a miracle dropped dramatically in 2025 to just 21%, close to half of 2023’s 39%.¹ This shift comes on the heels of two consecutive years of 20%+ returns from the S&P 500^® – something 50% of those surveyed said made investing look easy. Although retirement account balances may have swelled in that time, the future looks more complicated going forward, as 69% of US investors say the world feels unstable in 2025, and they are worried about their finances.

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Introduction

About the index

Retirement fears realized

The angst is hard felt as investors’ biggest fears about retirement security are playing out in real time. Topping the list is the concern that they won’t have enough money saved to enjoy their retirement (40%), with even more among the seemingly optimistic US sample, as 45% are still worried they won’t have enough.

The solution may seem easy – save more – but it’s not that simple. Knowing how much to put away depends on a set of undefined variables including future costs, investment returns, and the biggest unknown: how long you’re going to live.

The solution may seem easy – save more – but it’s not that simple.

Beyond their own mortality, investors have the more immediate concern presented by inflation, which 38% say is killing their retirement dreams. Rising prices may have slowed in many regions, but the cumulative effects of a prolonged bout of inflation has hit household budgets hard. Faced with higher costs for everyday essentials, two-thirds (66%) of investors worldwide say they are saving less as a result.

Pension pressures are rising, too, and one-third of all investors globally worry that their government benefits will be cut. High levels of public debt and aging populations are taxing national retirement systems, and investors know the tough decisions facing public policy makers could have an impact on their personal income.

Investors’ Five Biggest Retirement Fears in 2025

40% say I won't have enough money to enjoy retirement; 38% say inflation is killing my dreams of retirement; 33% say I worry that my government benefits will be cut; 25% say I'll never save enough to retire; and 24% say I'll go broke from Healthcare / long-term care costs

When it comes down to it, 38% of investors worldwide think their goals have become more fantasy than reality. Making retirement security more fact than fiction in 2025 will come down to facing up to three of their biggest fears:

I’ll never save enough to enjoy retirement: Investors know the pressure is on, and 78% say the responsibility to fund retirement is increasingly on their shoulders. Not every individual is equipped to live up to the responsibility. Savings goals are low, and planning assumptions are not in line with generating income to last 25 to 30 years.
Inflation is killing my dreams of retirement: Sticky inflation has been the bane of consumers in recent years, and nearly seven in ten (69%) surveyed say it’s eroded the value of their retirement savings. Price hikes have been felt to a greater extent in the cost of food, housing, and healthcare, putting added pressure on retirees living on a fixed income. It’s reached the point that higher everyday costs are the number-one financial fear for investors globally.
My government benefits will be cut: Public debt has grown considerably in the past ten years, and the stack of IOUs looms large over government retirement programs. Investors understand the problem all too well, as 72% think these high debt levels will result in lower benefits. It adds up to hard policy choices about standard retirement ages and benefits payouts, and even harder planning strategies for individuals.

There are significant pressures all around, but in terms of answering that critical question of how much do individuals need to ensure retirement security, the answer starts with their own plans.

About the survey:

Natixis Investment Managers, Global Survey of Individual Investors, conducted by CoreData Research in February 2025 and March 2025. Survey included 7,050 individual investors in 21 countries.

¹ Natixis Investment Managers, Global Survey of Individual Investors, conducted by CoreData Research in March 2023 and April 2023. Survey included 8,550 individual investors in 23 countries.

The S&P 500^® is widely regarded as the best single gauge of large-cap U.S. equities. The index includes 500 leading companies and covers approximately 80% of available market capitalization.

Performance data shown represents past performance and is not a guarantee of future results.

The views and opinions expressed may change based on market and other conditions. This material is provided for informational purposes only and should not be construed as investment advice. There can be no assurance that developments will transpire as forecasted.

Actual results may vary.

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