More Americans Smell Fear—not Roses—When They Retire

The shine is coming off of Americans’ expectations for their Golden Years.

Two-thirds of Americans anticipate being stressed about their finances in retirement, and nearly 60 percent don’t think they’ll have enough money, according to a new report by Merrill Edge.

The report found that younger generations—Gen Xers and Millennial--are the most likely to expect to feel stress in retirement. Nearly half of those who aren’t retired expect to work in retirement, and 41 percent said they’ll rely on the government for financial help in retirement.

It may not be as bad as they expect. The survey also looked at how current retirees were doing, and it found a brighter picture. About 75 percent of current retirees believe they’ll have enough money to last through retirement, while just 57 percent of pre-retirees feel the same.

Related: 5 Things No One Ever Tells You About Retirement

One promising finding in the report: Americans are putting a higher priority on saving for the future, perhaps because of their anxiety about running out of money. More than 60 percent of those surveyed said they would prioritize saving for the future, versus less than half of those asked the same question last year.

“In comparison to a year ago, we’re seeing a significant jump in positive investment behaviors and intent,” Aron Levine, head of Bank of America Preferred Banking and Merrill Edge said in a statement. “It’s encouraging to see Americans prioritizing the future along with the present and turning financial concerns into positive investment decisions.”