Survey of 1,007 American workers finds a growing need for more guidance on debt, emergency savings, and retirement priorities.
NEW YORK, July 14, 2026 /PRNewswire-PRWeb/ -- The high cost of living is making it harder for all Americans to balance everyday expenses with saving for the future, according to the 2026 Saver Survey from Vestwell, the infrastructure platform powering America's modern savings economy. Even people earning over $200,000 per year are struggling to determine how best to allocate their paychecks to cover emergency savings, credit card debt, student loans, childcare, healthcare, a home, and retirement.
The survey of 1,007 working Americans found that savings confidence is remarkably low, regardless of income. Only 26% of all respondents say they are very confident they are allocating extra money from their paycheck optimally. Nearly two-thirds of workers earning $200,000 or more (64%) have their doubts, describing themselves as only somewhat confident.
"Savers are overwhelmed by the question of what to do first," said Aaron Schumm, founder and CEO of Vestwell. "A higher salary does not come with an instruction book. We're seeing workers at every income level genuinely unsure whether they should build their emergency fund, pay down debt, or max out their 401(k) to get the full employer match. These are solvable problems that employers and benefits providers are uniquely positioned to help with."
Rising Prices Create Cash-Flow Challenges
Recent increases in consumer prices have made prioritizing saving even more challenging for workers. Nearly two-thirds of survey respondents (63%) say day-to-day expenses prevent them from saving more for retirement. Even among workers earning between $125,000 and $200,000 annually, more than half (51.2%) say everyday costs are a barrier to retirement savings. Other challenges include credit card or consumer debt (38%), lack of emergency savings (32%), student loan payments (20%), and childcare or family expenses (17%).
"Americans are making retirement savings tradeoffs at the grocery store, the doctor's office, and when the credit card bill arrives," said Schumm. "Employers should focus on helping workers first build their short-term financial floor."
Emergency Savings Is Now a Retirement Issue
One of the survey's most actionable findings is the link between emergency savings and retirement outcomes. Thirty-two percent of respondents say that the lack of an emergency cushion is holding back their retirement contributions. Separately, 37% name an employer-sponsored emergency savings account as one of the top benefits that would most improve their financial wellness, second only to HSA/FSA benefits (39%).
Employee demand for emergency savings accounts is strongest among workers in their 40s (44%), but remains strong across all age groups.
Workers Want Paycheck-Level Guidance
When asked to evaluate a hypothetical tool that automatically directed each paycheck dollar to the financial goal where it would have the most impact – such as building emergency savings, paying down high-interest debt, maximizing the 401(k) match, etc. – 68% of respondents said the concept would be "very" or "extremely valuable." Among workers who describe themselves as not very confident about their financial decisions, that number jumps to 84%. For workers who say they don't know where to start, it reaches 94%.
While the appetite is there, most employers are not yet meeting the need. Just 12% of respondents currently turn to their employer's benefits or HR/payroll platform for financial guidance. Instead, workers rely on friends and family (44%), online search or social media (36%), a financial advisor (31%), or AI tools such as ChatGPT (18%). The sources workers trust also shift by generation: nearly two-thirds (63%) of workers in their 20s turn to friends and family for financial guidance, while more than half (53%) of workers in their 60s rely on a financial advisor.
"The fact that more people are using AI and social media for financial guidance than their own employer's benefits platform shows both an unmet need and an opportunity," explained Schumm. "People need help. If employers don't step in to provide credible resources, workers will continue piecing together consequential financial decisions from fragmented sources that may not reflect their full benefits picture, financial priorities, or personal circumstances."
Methodology
Vestwell's 2026 Saver Survey was conducted in June 2026 among a nationally representative sample of 1,007 employed adults in the United States. Respondents spanned a broad range of ages, income levels, employer sizes, and industries.
About Vestwell
Vestwell is the backbone of the modern savings economy. Vestwell is a financial technology company that makes it easier for more Americans to save for life's most important moments — from retirement to education and healthcare. Founded in 2016, Vestwell's platform removes traditional barriers to saving, making it accessible, efficient, and approachable for everyone.
Vestwell provides a comprehensive suite of workplace savings solutions, including retirement plans, emergency savings accounts, student loan repayment benefits, and specialized accounts for education and disability savings. Trusted by financial advisors, employers, payroll providers, financial institutions, and government agencies, Vestwell serves more than 2 million active savers and administers over $50 billion in assets nationwide.
For more information, visit www.vestwell.com.
Media Contact
Mike Jurs, Vestwell, 1 415-218-7978, [email protected], https://www.vestwell.com/
SOURCE Vestwell
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