Americans Fear AI Will Derail Retirement — Here’s How To Stay Secure
Written by
Gabrielle Olya
Edited by
Molly Sullivan
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More than half of Americans fear artificial intelligence will shrink job opportunities — and their retirement prospects. A new survey from Thrivent found that 53% of non-retirees believe that AI reducing the number of available jobs will negatively impact their retirement, and 45% said that AI changing the type of work people do will negatively impact it.
While the full effects of AI on retirement security remain to be seen, there are some proactive steps you can take now to protect your long-term future.
Protect Your Retirement With Diversified Income and Investments
An underexplored impact of AI is how it may disrupt specific sectors, which could potentially affect market performance and your retirement savings.
“Diversifying your investments across asset classes and industries can help mitigate those risks,” said Jason Rogoff, financial advisor at Thrivent. “A mix of stocks, bonds and other vehicles can protect against market disruption tied to AI’s uneven effects across sectors.”
Rogoff recommended adding fixed annuities to your retirement portfolio as a hedge against many of the unknowns.
“Fixed annuities are particularly attractive as they don’t depend on job security or stock performance,” he said. “These predictable sources of income can serve as a foundation for your retirement, regardless of how the labor market changes.”
Similarly, multiple income sources, like side gigs or passive income, add another layer of resilience, Rogoff added.
Add Flexibility To Safeguard Retirement Income
AI is already reshaping many industries, and its impact on your career could affect your income and retirement readiness.
“Given the uncertainty around how this impact will continue to evolve over the coming years and decades, it’s critical to have flexibility built into your retirement plan,” Rogoff said. “Having options like phased retirement or part-time employment can help you maintain income and potentially insulate you from sudden career disruptions.”
Start Saving Early To Maximize Retirement Growth
“Regardless of external factors, like AI’s impact on work, what is certain is that retirement accumulation is a marathon, not a sprint,” Rogoff said. “Starting to save early allows you to maximize the power of compound interest and market growth over a longer period.”
Even if you can’t contribute the recommended 10% to 15% of your income, something is always better than nothing.
“No sum is too small to start with,” Rogoff said. “Carving out whatever amount is possible given your current situation will pay off, especially if you’re years — or even decades — from retirement.”
Keep Liquid Savings To Handle AI-Driven Job Changes
If AI changes your employment situation, access to liquid savings will be more important than ever.
“Maintain an emergency fund equipped to cover six to 12 months of expenses — but also think about liquidity in your investments,” Rogoff said. “Having too much of your portfolio tied in illiquid assets could limit your flexibility if you need to make a career pivot or cover a temporary income gap while you search for your next employment opportunity.”
Review and Adjust Your Retirement Plan Regularly
“Retirement planning isn’t something you set and forget — especially when technology is evolving rapidly,” Rogoff said. “Regular reviews of your retirement approach allow you to rebalance investments, update goals and respond to changes in your career or the economy.”
He recommended working with a financial professional to help you stay on track.
“A financial advisor is a valuable resource to help develop a strategy and ensure your approach is evolving to meet the demands of the current environment,” Rogoff said. “Thrivent’s survey found that 89% of those who work with an advisor say it’s important in their attempt to reach their financial goals.”
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