Bridging Generations – Survey Offers Insights for 2026 Employee Education Strategies
A new Transamerica Center for Retirement Studies report, “An Uncertain Future: Retirement Prospects of Four Generations,” explores how Gen Z, Millennials, Gen X, and Boomers are preparing for retirement amid economic volatility, caregiving pressures and job insecurity. The report highlights several shared fears, which can help inform your 2026 employee education strategy: outliving savings, declining health requiring long-term care and uncertainty around Social Security’s future.
In addition, here are some key generational differences to keep in mind:
- Gen Z: burned out and budgeting early. Representing workers ages 28 and younger, Gen Z faces unique challenges: 59% report regular burnout, 32% hold multiple jobs, 59% juggle side hustles and 41% bear caregiving responsibilities. Despite this stress, 76% are saving for retirement — typically starting at age 20 with a median 15% contribution of their salary. Their median retirement savings is $31,000, but emergency reserves stand at just $2,000 — and 26% have already tapped into retirement funds early.
- Millennials: debt, dual pressures and deferred planning. Millennials (ages 29–44) shoulder competing pressures with childcare, elder care and pandemic-related debt. Though 85% save for retirement, median savings reach only $65,000 alongside just $5,000 in emergency funds. Nearly one-quarter have made early withdrawals from retirement accounts.
- Gen X: nearing retirement underprepared. Gen Xers (ages 45–60) are the least confident in their retirement strategy. Only 18% feel “very confident” in retiring comfortably, and half expect to rely primarily on self-funded savings, whereas 77% worry Social Security may fall short. Their median retirement savings is around $107,000, with $6,500 in emergency funds. Only 25% have a written retirement strategy, and 50% have no backup plan if forced into early retirement.
- Boomers: stretching into later life. Boomers (ages 61–79) are extending work well into their sixties. Fifty-seven percent expect to retire at or after age 70, driven by worries over healthcare, savings longevity and uncertain Social Security. They maintain a median of $270,000 in retirement savings and $20,000 in emergency funds but only 27% have a written plan, and fewer than 40% have a contingency plan.
A striking 80% of workers across generations believe their financial journey will be harder than that of their parents.
Informational Sources: Transamerica Center for Retirement Studies: “An Uncertain Future: Retirement Prospects of Four Generations” (June 2025).
Footnotes
For plan sponsor use only. Not for use with participants or the general public.
This information is not intended as authoritative guidance or tax or legal advice. You should consult your attorney or tax advisor for guidance on your specific situation. In no way does advisor assure that, by using the information provided, plan sponsor will be in compliance with ERISA regulations.
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RP-274-0825 Tracking #781123 (Exp. 08/27)
