Our Findings


Nearly two in five U.S. retirees are spending more than they expected and just under one-half of pre-retired consumers believe planning for retirement is more difficult for them than it was for their parents.

We also examined retirement spending among those with additional sources of income. We found that retirees collecting income from pensions or annuities are able to sustain significantly more expenses than those who do not.

The risk of running out of money is real and the want for an enjoyable retirement is also real. The findings show that the need is growing for Americans not just to accumulate enough money for retirement. but to have guaranteed income stream throughout retirement- regardless of how long retirement lasts.

The most common financial surprises for retirees (Ages 50+)

Are retirement savers more prepared? (Ages 40+)

Retirees are cutting back on discretionary expenses


While the typical non-retired U.S. consumer over the age of 40 spends $2,993 a month, on average, the typical retiree spends 32% less ($2,008). Most common areas where retirees are spending less than pre-retirees include discretionary expenses such as:


Planning Regrets


The fact that retirees spend less than non-retirees may not be by choice, as more than half (55%) of retirees have retirement planning regrets.


Top 3 Regrets

  • • 36% Did not save enough

  • • 20% Relied too much on social security

  • • 12% Did not pay down debt prior to retirement.



The Global Atlantic retirement study was completed online among a random sample of the general U.S. population aged 40 and older, including an oversample of 10 of the most populous states:California,Texas,Florida,New York,Illinois,Pennsylvania,Ohio,Georgia. Michigan,and New Jersey.North Carolina was included in the national sample but not oversampled due to effects of Hurricane Florence on the state.

A total of 4,223 consumers participated,equally representing retirees and individuals not retired.Fieldwork was led by independent global market analytics firm Echo Research between September 12 and 24,2018. The margin of error when reporting on the total sample of retirees and individuals not retired is +/- 2.1 percent at the 95 percent confidence level.

The Role of Annuities


At Global Atlantic, we want to make it easier for financial advisors to guide clients towards their financial goals. Retiree's want a protected source of income for retirement needs and because of this, GlobalAtlantic income options offer the ability to build guaranteed lifetime income to, and through, retirement. Our approach through products and technology is to provide tailored retirement strategies providing greater access to income if required for healthcare needs, as well as new death benefit features that create a more substantive.

To learn more about our annuity products, please visit our annuities page.


Recent media coverage of the study


Financial Planning: Why do women ‘torpedo’ their retirement plans?
The Motley Fool: 2 in 5 Americans Spend More Money in Retirement Than Expected
PlanAdviser: Consider All Individual Circumstances Before Suggesting 4% Retirement Income Withdrawal
MarketWatch: Opinion: This retirement strategy creates steady income if you don’t have a pension
The Motley Fool: Here Are Americans' Top 3 Retirement-Planning Regrets
Yahoo! Finance: Nearly 40% of retirees spending more than they expected: report
Forbes: 5 Ways To Avoid This Nasty Retirement Trap
ThinkAdvisor: How Non-Annuity Owners Are….Different
Washington Post: The top regrets of retirees
Financial Advisor Magazine: Nearly 40% Of Retirees Overspend, Survey Says


For more information on Global Atlantic visit www.globalatlantic.com/about-global-atlantic

For Global Atlantic news visit www.globalatlantic.com/news

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