Older Americans are afraid to spend their riches in retirement

Older Americans are often unwilling to spend down their savings in retirement. Catherine Delahaye/Getty Images Many retirees fear spending savings, with most prefering leaving a surplus over depleting funds. A Prudential survey shows retirees struggle with balancing spending on enjoyment and future saving. Retirees feel guilty spending on luxuries and prefer guaranteed monthly income over a lump sum. Millions of Americans save for decades for the day when they turn in their laptops and never have to work again. When the day comes, though, many fear spending down their nest eggs . Prudential Financial's 2026 Retirement Pulse survey , conducted online between July and August, found that only 14% of respondents felt comfortable spending each month in retirement for enjoyment, such as hobbies, travel, and dining out.