10/02/2026
Most of us spend decades learning how to save. Almost no one practices spending it.
Allianz Life's 2026 Annual Retirement Study found that 71% of working Americans expect to be reluctant to spend in retirement so they can preserve their account balance.
For many, that feeling doesn't fade after they retire. 39% of retirees say they're reluctant to spend, and about one in three (32%) said it felt wrong to start drawing down their assets after accumulating for decades.
The worry isn't irrational. About half of respondents named outliving their savings, major medical or long-term care costs, and unforeseen expenses among their top concerns, and 48% named inflation.
There's also a regret on both sides. 42% worry they'll spend too much early in retirement. 35% worry they won't spend enough.
Planners often address this with a written spending strategy: a clear yearly amount for essentials, a separate amount for the things you want to enjoy, and spending tied to what matters most to you.
Money is only part of it. Retirement also raises questions like what fills your Tuesday and who you spend your days with.
Poll: The retirement money is covered. What's the hardest part?
• Feeling OK spending it
• Filling an empty Tuesday
• Who I am without my title
• Who I'll spend my days with
Vote and tell me why in the comments. If your answer surprised you, it might be worth talking through before the date is on the calendar.
Source: Allianz Life 2026 Annual Retirement Study (survey of 1,000 U.S. adults, conducted January 2026), as reported by 401(k) Specialist, July 21, 2026. https://bit.ly/4xWl5OI
