Retirement Confidence Among Middle-Income Americans Declines Amid Economic Uncertainty

Rhea-AI Summary

CNO (NYSE: CNO) survey finds retirement confidence among middle-income Americans ages 50–85 has declined amid inflation and economic uncertainty. Key findings: 32% feel less confident than a year ago; 41% doubt they will have enough money; 44% report increased financial anxiety.

The survey also shows 43% are less confident Social Security will be available and 47% expect Medicare benefit cuts, while many overestimate Medicare long-term care coverage.

Positive

• Increased demand signal for annuities and long-term care insurance as planning interest rises
• Advisory opportunity for financial professionals as many seek guidance and planning solutions

Negative

• 32% of middle-income Americans report lower retirement confidence than a year ago
• 41% doubt they will have enough money to live comfortably in retirement
• 44% report increased anxiety about personal finances versus a year ago
• 49% of pre-retirees expect to delay retirement by at least one year

Key Figures

Retirement confidence decline: 32% Doubt comfortable retirement: 41% Pre-retirees doubting comfort: 49% +5 more

8 metrics

Retirement confidence decline 32% Middle-income Americans 50–85 feeling less confident than a year ago

Doubt comfortable retirement 41% Middle-income Americans 50–85 who doubt they will have enough money

Pre-retirees doubting comfort 49% Pre-retirees who doubt they will have enough to live comfortably

Increased financial anxiety 44% Middle-income Americans 50–85 more anxious about finances vs. year ago

Inflation top concern 27% Middle-income Americans 50–85 citing inflation as top concern

Less confident in Social Security 43% Middle-income Americans 50–85 less confident Social Security will be available

Expect Medicare cuts 47% Middle-income Americans 50–85 believing federal government will cut Medicare

Expect Medicare to cover LTC 49% Middle-income Americans 50–85 expecting Medicare to cover all long-term care

Market Reality Check

Price: $43.12 Vol: Volume 1,020,041 is 1.43x...

normal vol

$43.12 Last Close

Volume Volume 1,020,041 is 1.43x the 20-day average of 712,419, indicating elevated trading interest before/around this survey release. normal

Technical Price at $43.12 is above the 200-day MA of $39.60 and 3.9% below the 52-week high of $44.86.

Peers on Argus

CNO is modestly higher (+0.14%) with mixed peer moves: GNW (+0.67%), JXN (+0.85%...

CNO is modestly higher (+0.14%) with mixed peer moves: GNW (+0.67%), JXN (+0.85%), and PRI (+2.54%) up, while FG (-0.17%) and BHF (-0.06%) are slightly down, suggesting a company-specific tone rather than a unified sector move.

Historical Context

5 past events · Latest: Feb 11 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Feb 11	Dividend declaration	Positive	+0.3%	Announced $0.17 quarterly cash dividend and set virtual annual meeting date.
Feb 05	Earnings results	Positive	+5.5%	Reported strong 4Q25 and 2025 results with higher operating EPS and premiums.
Jan 21	Leadership promotions	Neutral	+1.0%	Announced senior leadership promotions in distribution and legal functions.
Jan 20	Earnings date set	Neutral	+1.5%	Scheduled 4Q25 and full-year 2025 earnings release and conference call.
Jan 15	Board appointment	Positive	-1.3%	Appointed experienced former asset management CEO Linda Gibson to board.

Pattern Detected

Recent news—especially earnings and capital return—has generally seen positive price reactions, with only one notable divergence on a board appointment.

Recent Company History

Over the past month, CNO has reported several notable developments. On Feb 5, 2026, it posted strong 4Q25 and full-year 2025 results, with full-year net operating income of $439M and operating EPS up 11%, prompting a 5.51% gain. A new quarterly dividend of $0.17 per share and the upcoming annual meeting, plus leadership promotions and a board addition, round out a picture of active governance and capital return. Today’s survey-based retirement confidence release fits into CNO’s broader positioning in retirement and protection markets rather than a direct financial update.

Market Pulse Summary

This announcement spotlights retirement insecurity among middle‑income Americans, with 32% feeling l...

Analysis

This announcement spotlights retirement insecurity among middle‑income Americans, with 32% feeling less confident in their plans and 41% doubting they will have enough to live comfortably. Eroding confidence in Social Security (43%) and concerns over Medicare (47% expecting cuts) underscore the role of private retirement and protection products. In context of CNO’s recent earnings growth and dividend actions, investors may watch how such sentiment influences demand for annuities and long‑term care solutions.

Key Terms

social security, medicare, medicaid, annuities, +2 more

6 terms

social security regulatory

"confidence in future of Social Security and Medicare weakens"

Social security is a government-run program that provides regular payments to people who are retired, disabled, or otherwise eligible for income support, funded by taxes or contributions. Investors watch social security because changes to its funding, benefit levels, or eligibility affect consumer spending, the cost of labor and government budgets—much like a town’s safety net influencing how comfortably residents spend and plan for the future.

medicare regulatory

"confidence in future of Social Security and Medicare weakens"

Medicare is a large government-run health insurance program that primarily covers people aged 65 and older and certain younger people with disabilities. For investors it matters because Medicare acts like a huge customer and rule-maker for hospitals, drugmakers and medical-device companies—its coverage decisions, payment rates and regulatory policies can change demand, revenue and profit margins across the healthcare sector, similar to how a major client or regulator can shape a business’s prospects.

medicaid regulatory

"one in five (20%) expect to depend on Medicaid."

Medicaid is a government-funded health insurance program that provides medical coverage to low-income individuals, families, elderly people and people with disabilities, administered jointly by the federal government and state governments in the United States. For investors, Medicaid matters because changes in eligibility, funding, or payment rules can alter patient volume and the prices hospitals, nursing homes, insurers and medical suppliers receive—similar to how a large customer or contract can shift a company’s revenue outlook.

annuities financial

"products such as annuities and long-term care insurance."

Annuities are contracts sold by insurance companies that convert a lump sum or series of payments into a guaranteed stream of future income, either immediately or after a set period. For investors, they matter because they provide predictable cash flow—like a private pension—while carrying trade-offs in liquidity, fees and credit risk of the issuer, which can affect portfolio income stability and overall returns.

long-term care insurance financial

"products such as annuities and long-term care insurance."

Long-term care insurance pays for personal and medical support when people can no longer handle everyday tasks—like bathing, dressing, or remembering—because of chronic illness, disability, or cognitive decline, covering services from in-home aides to assisted living and nursing homes. Investors care because it shifts costs between individuals, insurers and care providers; rising claim levels, changing premiums, or policy rules can meaningfully affect insurers’ profits, healthcare demand and long-term fiscal pressure, similar to how home insurance shapes housing decisions.

long-term care medical

"expect Medicare to cover all long-term care needs, even though such coverage"

Long-term care is ongoing medical, personal and household assistance for people who cannot fully care for themselves because of aging, chronic illness or disability; it covers help with everyday tasks like bathing, dressing, eating, mobility and medication, provided at home, in assisted living or in nursing facilities. Investors care about long-term care because its demand, cost structure and regulation affect revenues, occupancy and profit margins for healthcare providers, insurers and related real estate—similar to how maintenance needs and tenant demand shape returns for a property owner.

AI-generated analysis. Not financial advice.

CNO survey finds one in three middle-income Americans ages 50 to 85 are less confident in their retirement plans as confidence in future of Social Security and Medicare weakens

CARMEL, Ind., Feb. 18, 2026 /PRNewswire/ -- A new consumer sentiment survey from CNO Financial Group, Inc. (NYSE: CNO) reveals a shift in retirement confidence among middle-income Americans ages 50 to 85, many of whom feel increasingly unprepared for a future shaped by inflation, economic uncertainty and questions about the reliability of key federal safety nets.

Among middle-income Americans ages 50 to 85, one in three (32%) say they feel less confident in their retirement plans than they did a year ago, and two in five (41%) doubt they will have enough money to live comfortably throughout retirement—including nearly half (49%) of pre-retirees.

Financial anxiety is also on the rise: two in five (44%) middle-income Americans ages 50 to 85 report feeling more anxious about their personal finances than they did a year ago. Those not yet retired are twice as likely (24% vs. 12%) as retirees to say they are much more anxious about their finances, reflecting concerns about their ability to retire on schedule.

"Middle-income Americans are under pressure as they navigate rising costs, market volatility and questions about the future of government programs and safety nets," said Scott Goldberg, President, Consumer Division. "This economic environment is challenging their sense of preparedness. Our survey underscores how critical it is for individuals to plan ahead to build financial resilience and protect their retirement."

Inflation Tops Concerns for Middle-Income Americans, Influencing Retirement Expectations

Concerns such as inflation and outliving their savings are influencing how Americans prepare for retirement, leaving many uncertain about their financial plans. Inflation (27%) is the top concern for middle-income Americans ages 50 to 85, followed by fears about outliving their money (23%) and cuts to Social Security (18%).

One in three (34%) say they are less confident in their ability to meet day-to-day financial obligations like rent, groceries and utilities compared to a year ago. That lack of confidence jumps to half (48%) among those with less than $50,000 in investible assets, underscoring the uneven impact of inflation across income levels.

Women and pre-retirees are feeling the strain most acutely: one in four women (25%) say they are not at all confident they'll have enough money to live comfortably in retirement—almost double the rate of men (13%). Additionally, half (49%) of pre-retirees expect to retire at least one year later than they planned a year ago, and one in six (15%) middle-income Americans don't think they will ever be able to afford to retire.

"As financial confidence declines, middle-income Americans need to evaluate their retirement timelines, savings strategies and long‑term care plans," Goldberg added. "Important steps to mitigate risk and improve financial security include seeking professional guidance, diversifying retirement income sources and making use of valuable products such as annuities and long-term care insurance."

The Retirement Safety Net: Confidence Erodes in Social Security and Medicare

Uncertainty about the future of key government programs is adding another layer of concern for many Americans. Confidence in the future of federal safety nets is wavering, with 43% of middle-income Americans ages 50 to 85 less confident that Social Security will be available when they need it—while nearly half (47%) believe the federal government will cut Medicare benefits in the future. Pre‑retirees are more concerned than retirees about the future of these programs, with one in five saying they are much less confident in the availability of Social Security (19% vs. 7%) and Medicare (18% vs. 6%).

Many may also have knowledge gaps on how they will pay for future care: half (49%) of middle-income Americans ages 50 to 85 expect Medicare to cover all long-term care needs, even though such coverage is limited. Just over a third (36%) plan to rely on personal savings, while one in five (20%) expect to depend on Medicaid.

"Medicare and Social Security provide good coverage and support, but were never designed to cover all costs in retirement. The data paints a clear picture: many Americans lack confidence that these long‑standing programs can meet their financial needs," Goldberg said. "It's essential that middle-income Americans understand what benefits are available so they can protect what matters most to them as they near retirement. Fortunately, it's never too late to seek guidance and secure your financial future."

About the Survey

The Harris Poll, on behalf of CNO, conducted an online survey among 500 U.S. respondents between 50 to 85 years old with household incomes of $50,000 to $100,000 and less than $1 million in investable assets, from October 20 – 24, 2025. 

Respondents for this survey were selected from among those who have agreed to participate in our surveys. The sampling precision of Harris online polls is measured by using a Bayesian credible interval. For this study, the sample data is accurate to within ± 5.8 percentage points using a 95% confidence level. This credible interval will be wider among subsets of the surveyed population of interest.

For complete survey methodology, please contact Mike Romor, Manager, External Communications.

About CNO Financial Group
CNO Financial Group, Inc. (NYSE: CNO) secures the future of middle-income America. CNO provides life and health insurance, annuities, and financial services through our family of brands, including Bankers Life, Colonial Penn, Optavise and Washington National. Our customers work hard to save for the future, and we help protect their health, income and retirement needs with 3.2 million policies and $38.8 billion in total assets. Our 3,300 associates, 5,000 exclusive agents and more than 7,000 independent partner agents guide individuals, families and businesses through a lifetime of financial decisions. For more information, visit CNOinc.com.

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SOURCE CNO Financial Group

FAQ

What did CNO's Feb 18, 2026 survey find about retirement confidence for CNO (CNO)?

The survey found 32% of middle-income Americans ages 50–85 feel less confident in retirement than a year ago. According to the company, concerns center on inflation, economic uncertainty, and doubts about Social Security and Medicare.

How many middle-income Americans in the CNO survey doubt they will have enough retirement money?

About 41% of middle-income Americans ages 50–85 say they doubt having enough money for comfortable retirement. According to the company, that figure rises to 49% among pre-retirees specifically.

What share of respondents reported increased financial anxiety in the CNO Feb 18, 2026 survey?

The survey reports 44% of middle-income Americans ages 50–85 are more anxious about personal finances than a year ago. According to the company, non-retirees are notably more likely to report much higher anxiety.

What did CNO report about confidence in Social Security and Medicare availability (CNO)?

43% said they are less confident Social Security will be available, and 47% expect Medicare benefits could be cut. According to the company, pre-retirees express stronger concerns than current retirees.

How many respondents mistakenly expect Medicare to cover long-term care, per CNO (CNO)?

About 49% of middle-income Americans ages 50–85 expect Medicare to cover all long-term care needs. According to the company, this indicates a knowledge gap since Medicare coverage for long-term care is limited.

What retirement timing changes did CNO's survey reveal for pre-retirees (CNO)?

The survey shows 49% of pre-retirees expect to retire at least one year later than planned a year ago. According to the company, delays reflect inflation, market volatility, and safety-net concerns.