Surprising Statistics That Will Change Your Perspective on Retirement: 7 Important Figures Your Financial Advisor Isn’t Telling You
May 29, 2025Retirement is supposed to be the golden era of life—but what if the assumptions you’re making are based on outdated or incomplete information? Most financial advisors stick to tried-and-true projections, but the reality of retirement in America today paints a far more sobering picture. Here are 7 surprising statistics that could radically reshape your financial planning strategy—and chances are, your advisor isn’t talking about them.
1. 55% of Americans say they are behind on retirement savings.
(Source: Bankrate, 2024)
That’s more than half the population admitting they’ve lost ground. And for many, it’s not because they didn’t try—it’s because traditional advice didn’t keep up with inflation, lifestyle shifts, or rising health costs.
2. The average 65-year-old couple will need $315,000 for out-of-pocket health care costs in retirement.
(Source: Fidelity, 2024)
That figure doesn’t even include long-term care. If you’ve planned without factoring in these numbers, you’re not really planning—you’re hoping.
3. 40% of retirees rely entirely on Social Security.
(Source: SSA Annual Report, 2023)
Social Security was never intended to be your sole income source. Yet nearly half of retirees have little to no supplemental income. If your portfolio doesn’t generate guaranteed income, you’re playing retirement roulette.
4. Only 24% of Americans have a written retirement plan.
(Source: Transamerica Center for Retirement Studies)
And guess what? Those who do are 3x more likely to feel confident about their financial future. If your advisor hasn’t sat down with you to build a roadmap, it’s time for a second opinion.
5. The average retirement lasts over 20 years—but most portfolios are built for 10–15.
(Source: CDC Life Expectancy Report, 2023)
People are living longer, but their money isn’t. Traditional planning may leave you high and dry in your 80s or 90s—when re-entering the workforce isn’t an option.
6. 63% of women say they have “no idea” how much they need to retire.
(Source: Merrill Lynch/AGE WAVE Study)
This is an urgent call to action, especially for women who often live longer and earn less. Financial empowerment starts with education, and it starts now.
7. 70% of Americans will need long-term care—but only 11% have insurance for it.
(Source: U.S. Department of Health and Human Services)
Your retirement income could be obliterated in a matter of months without proper planning. Why is this not a bigger part of financial conversations?
Final Thoughts:
If these numbers startled you, good. You deserve more than surface-level planning—you need real strategy based on facts, not assumptions. These figures aren’t meant to scare you; they’re meant to wake you up.
If your current advisor hasn’t discussed these with you, ask why. Or better yet—ask someone who will.
Want a second opinion on your retirement plan?
As a fiduciary and the Retirement Professor, I offer complimentary strategy sessions designed to challenge the status quo and help you retire smarter, not just older. Book a time with me today and let’s make sure your future is built on solid ground.
