The American Middle Class: Influences of Gender on Retirement Security

The middle class is the heartbeat of our society and the embodiment of the American dream. People in the middle class are working hard and caring for their families amid an evolving economy, new technologies reshaping employment and everyday life, and an aging population.

Amid today’s rapid pace of change, inflation, and mounting financial pressures, how is the middle class navigating an uncertain future?

The American Middle Class: Influences of Gender on Retirement Security, a collaboration between nonprofit Transamerica Center for Retirement Studies (TCRS) and Transamerica Institute, examines the health and well-being, personal finances, employment status, and retirement preparedness of the middle class.

The report examines how women and men are preparing for the future. It is based on a survey of more than 7,600 U.S. residents age 18 and older with a household income of $50,000 to less than $200,000. The survey was conducted in late 2025. It is part of the 26^th Annual Transamerica Retirement Survey.

This report is the third in a series by Transamerica Center for Retirement Studies (TCRS) about the middle class. Other reports include Retirement Throughout the Ages: The American Middle Class (2025) and The Retirement Outlook of the American Middle Class (2024).

Key Takeaways

The middle class remains resilient but faces mounting pressures that threaten retirement security:

• The middle class is staying positive, but many are showing signs of distress. More than eight in 10 say they are generally happy (85%). Forty-five percent say they often feel exhausted and burned out, and 39% are having trouble making ends meet.
• Inflation and the high cost of living are taking a toll. Seven in 10 (72%) have taken one or more actions due to financial strain from inflation in recent years, and 80% agree that today’s high cost of living is making it harder for them to save for retirement.
• Working longer and fully retiring at an older age could bring income and help bridge savings gaps. One in three expect to retire at age 70+ or do not plan to retire (33%). However, the experience of retirees shows how unforeseen circumstances can alter the best-laid plans. The median age at which retirees retired was 63.
• Most are saving for retirement, but the question is whether they are saving enough. More than three in four who are not yet retired are saving for retirement (78%). They estimate they will need $500,000 by the time they retire to feel financially secure, but their current total household savings in retirement accounts is $64,000 (estimated medians).
• Achieving a financially secure retirement is proving more difficult for women than men. Among those not yet retired, women have saved $49,000 in household retirement accounts, which is less than the $82,000 saved by men (estimated medians).
• Long-term care is a significant concern for retirees and their families. Only 14% of middle-class retirees are very confident that they could afford long-term care if needed. When asked about their plans to receive care, more than half (53%) said they would rely on family and friends. Men are more likely than women to plan to rely on a spouse for care (43% vs. 32%).
• Financial planning could help improve the retirement prospects of both men and women. Only 29% of men and 21% of women have a financial strategy for retirement in the form of a written plan.

Methodology

The analysis contained in this report was prepared internally by the research team at Transamerica Institute and TCRS. The 26-minute online survey was conducted within the U.S. by The Harris Poll on behalf of Transamerica Institute and TCRS between September 16 and October 17, 2025, among a nationally representative sample of 10,015 adults, including 7,606 people with a household income of $50,000 to $199,999, including 3,671 women and 3,833 men. See report for full methodology.