Nearly two-thirds of Americans are more worried about going broke than dying, according to a new study by financial firm Allianz. The 2026 Retirement Study found that 67% of respondents fear financial ruin more than death, with Generation X the most affected at 73%, followed by millennials (69%) and baby boomers (59%).
The study surveyed 1,000 people aged 25 and older with annual household incomes of at least $50,000 (single), $75,000 (married), or investable assets of $150,000. It revealed pervasive anxiety over finances, with 50% of respondents checking their retirement accounts immediately after market drops.
High inflation and rising healthcare costs are driving these fears. Inflation has remained above the Federal Reserve's 2% target since February 2021, peaking at 9.1% in June 2022 before falling to 2.3% in April 2025. Consumer sentiment hit a record low in April 2026, according to the University of Michigan.
Healthcare costs are also soaring. Employee-sponsored health insurance premiums rose by $1,408 in 2025, with average employee contributions reaching $6,850. For the 23.1 million people on Obamacare, the end of pandemic-era subsidies in 2025 has led to premium increases of up to $2,600 per month for some policyholders.
Kate Bivona, 37, from Tempe, Arizona, told The Independent she and her husband could not afford the premium hike on their Obamacare plan and downgraded to a bronze plan with a high deductible. “We are pretty healthy and don’t generally have to go to the doctor more than once a year, so we took the gamble,” she said.
