Retirement Outlook

Eighty One Percent Of Seniors Don't Think The Next Generation Will Be Able To Retire Comfortably

While more than one third say employers didn’t do enough to help them retire

In its 2022 Modern Retirement survey, American Advisors Group, the ’silent generation’ speaks up, revealing a harder path to a comfortable retirement. Access the full report here.

IRVINE, Calif., Aug 17, 2022 /PRNewswire/ — Affording a comfortable retirement is challenging for modern day seniors and statistics shows they feel the problem is going to get worse. New data from American Advisors Group (AAG), the nation’s leader in home equity solutions for seniors, shows that older Americans believe that affording retirement has been getting harder since the Silent Generation left the workforce and that factors such as lack of employee support and unsuccessful retirement strategies are to blame. To learn exactly how today’s seniors are feeling about their retirement, AAG conducted the Modern Retirement Survey with over 1,500 participants ages 60-75.

American Advisors Group Modern Retirement Survey

“Traditional financial strategies no longer guarantee a comfortable retirement, and that has many Americans worried about how their children will fund their future,” said AAG Chief Marketing Officer Martin Lenoir. “Seniors are beginning to retire the old ways of thinking when it comes to their post-work life and are using alternative methods to fund their later years, such as utilizing their home equity. The concept of retirement has evolved, and seniors now see their home equity as a financial tool that can help secure a comfortable lifestyle.”

The Data Shows Seniors Think Retirement is Getting Harder:

  • The overwhelming majority of older Americans believe that retirement difficulties will be worse for the next generation. 81% of seniors do not think the next generation will be able to retire comfortably.
  • Many seniors feel that their employers failed to help them retire correctly. More than a third (37%) of retirees do not feel that their employer did enough to help them achieve the retirement they wanted.
  • Many seniors also believe that retirement has become more difficult since the last generation left the workforce. 39% of today’s seniors believe their generation had a harder time achieving retirement than the last generation.
  • For many Americans, a traditional retirement strategy did not create the outcome they desired. Over a quarter (28%) of America’s seniors said their retirement strategy did not work out as planned.
  • The COVID-19 pandemic impeded retirement plans for some older Americans. Nearly one in five seniors (19%) said that the pandemic has had a negative effect on their retirement plans.

While Americans search for ways to increase their cash flow, senior housing wealth reached a historic high at a record $10 trillion, according to the National Reverse Mortgage Lenders Association. Through a federally insured Home Equity Conversion Mortgage (HECM) loan, more commonly known as a reverse mortgage, seniors aged 62 and older can access their home equity, eliminate their monthly mortgage payments, and remain in their home long term. Seniors who use a reverse mortgage loan to remain in their home long term are required to continue paying their taxes and insurance, live in the home as their primary residence and comply with all terms of the loan.

AAG’s Modern Retirement Survey was conducted on December 8, 2021, and included 1,580 participants. Responses include numerous formats, including yes-and-no answers, ranking preferences, and multiple-choice replies. The survey was conducted on a digital platform so participants from all regions of the United States could answer from the safety of their homes. All participants were selected randomly with age and homeownership being the only qualifying factors.




About AAG
AAG is dedicated to helping older Americans find new ways to fund a better retirement through the responsible use of home equity. As the nation’s leader in reverse mortgage lending, AAG offers a suite of home equity solutions — including Home Equity Conversion Mortgages, traditional and proprietary mortgages, that are designed to give seniors a better financial outcome in retirement. AAG is a proud member of the National Reverse Mortgage Lenders Association (NRMLA).
To learn more about AAG and reverse mortgage loans, please visit the company’s website at