The research highlights generational differences and a shared need for comprehensive financial guidance from advisors.
A growing discrepancy is emerging in Americans’ attitudes toward investing and retirement, with two new reports showing that both retirees and Millennials are rethinking what really matters but often lack the guidance or confidence to act on it.
First, findings from the Oath Money & Meaning Institute’s Q2 2026 survey show that most retirement investors recognize the importance of purpose, relationships and daily structure in later life, but those topics are often overlooked when planning conversations.
Also, a separate survey from Parnassus Investments shows that younger investors are prioritizing value and early retirement but struggling with investment confidence and direction.
planning difference beyond numbers
Oath’s survey of more than 400 near-retirees and retirees found that two-thirds (66%) consider non-financial planning such as defining purpose and maintaining relationships as very important or essential. But 40% say financial professionals rarely or never raise these issues in discussions.
“Sure, money matters, it’s what makes everything else possible. But it won’t make you happy,” said Rod Yancey, founder and CEO of Oath. “People know what a good retirement is. And then most of them prepared almost exclusively for the part they said mattered least. People don’t spend enough time imagining what their retirement days will be like. They don’t think about relationships, their purpose, or what their retirement means to them. They mostly think about the numbers.”
More than 80% of respondents said they are at least neutral (and often comfortable) discussing non-financial topics such as identity and lifestyle in retirement.
However, actual preparation is heavily skewed toward finances, with more than half of respondents saying they spent little or no time on non-financial planning, although almost all acknowledged its importance.
Money matters but not everything
The research also sheds light on how retirees define satisfaction, with only 2% of respondents saying money is the primary driver of happiness in retirement. Instead, most see it as a tool to enable other priorities like family, health, and meaningful experiences.
Time with family ranked as the top source of meaning, cited by 70% of participants. Hobbies, travel and social interactions also featured prominently, reinforcing the idea that lifestyle (not just money) defines retirement satisfaction.
Nearly half said they have often postponed travel and experiences until retirement due to lack of time, stress or a focus on saving during their working years.
Millennials want more, but feel less certain
While retirees are reevaluating life after work, younger generations are approaching investing with different challenges.
Parnassus Investments’ survey of 500 millennials found that 79% aim to retire early, but only 35% feel extremely confident in their investing abilities. Additionally, 84% want their portfolios to reflect their personal values, although more than half say that alignment is difficult to achieve.
The findings reveal a generation that is purpose-driven but lacks the tools to fully execute their goals.
“Millennials are at an important stage in life, especially when it comes to investing, because they have the advantage of time,” said Joe Sinha, chief marketing officer at Parnassus Investments. “They live with intention, and they want their investments to reflect that by building financial security while being mindful of the world around them. This eBook is our effort to meet them where they are and help make the path ahead feel less daunting, so they can start investing toward financial freedom.”
Value-driven investing is at the heart of this group. The survey found that 87% want to have a positive impact on the world, while 86% already incorporate environmental or social considerations into their daily lives.
Despite this, many people are investing alone. Two-thirds said they are self-taught, and only 36% currently work with a financial advisor.
A sweeping change for advisors
In both datasets, the findings show that investors are looking for more holistic support, whether that means integrating purpose into retirement planning or aligning investments with personal values.
For advisors, the opportunity – and challenge – lies in bridging these gaps. Retirees are looking for guidance that goes beyond financial projections, while younger investors need help turning intentions into actionable strategies.
As expectations evolve, the traditional focus on portfolio and performance will no longer be sufficient to meet customers where they are.