The New Zealand Seniors Series: Silver Dollar Report 2026
Cost of Living Pressures Reshape Retirement Confidence for New Zealanders Over 50
New data from New Zealand Seniors reveals that cost-of-living pressures are continuing to affect how New Zealanders over 50 manage everyday expenses, plan for retirement, support family, and make room for the small things that bring joy.
The Silver Dollar Report 2026, part of the New Zealand Seniors Research Series, explores how older New Zealanders are navigating today’s financial landscape. Based on a quantitative online survey of more than 500 New Zealanders aged over 50, the report examines financial security, day-to-day spending, retirement confidence, KiwiSaver, housing, intergenerational support, and what a comfortable retirement looks like.
Key findings
- Nearly 1 in 2 (49%) say covering essential expenses has become harder in the past year.
- More than 7 in 10 (71%) are concerned that the cost of living is affecting their financial security.
- 3 in 5 (60%) feel their retirement savings are inadequate.
- 80% are most concerned about the rising cost of groceries.
- 57% have cut back spending on food and groceries.
- Nearly half (49%) have provided financial help to a loved one in the past year.
- 2 in 5 (40%) who gave financial support provided at least $5,000, while 7% provided $20,000 or more.
- More than 3 in 4 (77%) say it is important to keep spending on things they enjoy, even when money is tight.
Cost of living: How everyday spending is changing
For many New Zealanders over 50, the first place financial pressure is felt is at the grocery checkout.
While nearly half (49%) say they feel comfortable with their financial situation, the research shows many are feeling stretched. Just over 2 in 5 (42%) say they feel stretched or very stretched, and nearly 1 in 10 (8%) say they are struggling to make ends meet.
Financial comfort also varies by gender and generation. Men are more likely to say they feel financially comfortable (56%) compared to women (42%). Among older age groups, pre-Boomers, those aged 80 and above, are the most likely to report feeling comfortable (69%).
Groceries, utilities, and inflation lead financial concerns
When asked where cost pressures are being felt most, groceries emerged as the top concern. An overwhelming 4 in 5 (80%) are most concerned about the rising cost of groceries.
This is followed by rising utility bills (66%) and general inflation (65%), showing that household essentials remain central to financial stress for older New Zealanders.
In response, many are changing how they spend. Nearly 3 in 5 (57%) have switched to cheaper grocery brands or shops. Almost half (46%) have consciously reduced power or heating use at home to manage costs, and a further 2 in 5 (42%) have cut back on driving or travel.
Many are making trade-offs between essentials
The research also highlights the difficult decisions some older New Zealanders are making – 2 in 5 (41%) have had to choose between paying for one essential item or another in the past year.
Among those making cutbacks, many have gone without or reduced spending on essentials such as clothing or footwear (59%), food and groceries (57%), and personal care items (54%).
These findings suggest that cost-of-living pressure is not only affecting discretionary spending – it is also influencing how older New Zealanders prioritise basic household needs.
Retirement confidence: Will savings be enough?
The current economic climate is also weighing on retirement confidence.
Close to 2 in 5 (39%) are very or extremely worried about running out of money in retirement. For most, a comfortable retirement is defined in practical terms: being able to cover essential living costs without financial stress (84%).
This concern is prompting some older New Zealanders to rethink their retirement timelines. Among those still working, nearly 3 in 5 (58%) expect they will need to work longer than they would like due to financial reasons.
This contrasts with retirement aspirations. Just over 2 in 5 (42%) say their ideal retirement age is between 65 and 69.
Retirement savings remain a major concern
The pressure on retirement planning is reflected in savings confidence. 3 in 5 (60%) feel their total retirement savings are inadequate, including around a third (33%) who say their savings are very inadequate.
Among pre-retirees, nearly half (46%) feel unconfident about their ability to retire comfortably.
Together, these findings suggest that many New Zealanders over 50 are approaching retirement with uncertainty, particularly as everyday living costs place pressure on their ability to save, contribute to KiwiSaver, and plan ahead.
The Bank of Mum and Dad: Supporting younger generations
Despite managing their own financial pressures, many New Zealanders over 50 remain deeply concerned about younger generations.
Half (50%) say they are concerned about the financial future and opportunities available to younger people. Many are also stepping in to help.
Nearly half (49%) have provided financial help to a loved one in the past year. This support most commonly goes towards groceries or everyday living costs (49%), followed by one-off payments (31%) and help with bills (29%).
Family support can come at a personal cost
This support is often significant. 2 in 5 (40%) of those who provided financial help gave at least $5,000, while 7% provided $20,000 or more.
However, this generosity can create a financial balancing act. Around 2 in 5 used savings (42%) or cut back on their own spending (40%) to provide support.
For some, helping family also affects longer-term planning. More than a third (34%) say providing support reduced their ability to save, while 13% say it reduced their ability to contribute to KiwiSaver. Just over 1 in 10 (11%) have taken on debt to provide support.
Over a quarter (27%) are worried that helping family could affect their own long-term financial security.
These findings show the continued role of the Bank of Mum and Dad in New Zealand, while also highlighting the financial strain that intergenerational support can place on older households.
Life’s little luxuries: How older New Zealanders are choosing to spend
Even as budgets tighten, many New Zealanders over 50 are still trying to protect the things that support wellbeing, connection, and enjoyment.
More than 3 in 4 (77%) say it is important to keep spending on things they enjoy, even when money is tight.
This does not mean spending has been unaffected. Nearly 2 in 3 (63%) of those who usually travel have cut back, and more than 2 in 5 (44%) have cut back on life’s little luxuries.
However, many are still making room for smaller indulgences. Takeaway meals (39%), streaming services (33%), and dining out (32%) remain part of household spending for some.
Domestic travel remains important
While some bigger trips may be on hold, domestic travel continues to play a role.
Among those who travelled in the past year, close to 3 in 5 (58%) of trips were mainly within New Zealand. Nearly half (48%) of all travel spending was domestic, highlighting a continued preference for closer-to-home experiences.
Looking ahead, about half (50%) say protecting spending on wellbeing and enjoyment will be a key priority in the year ahead.
The findings suggest that, for many older New Zealanders, managing money is not simply about cutting back. It is also about making deliberate choices, prioritising what matters, and preserving quality of life where possible.
Practical budgeting tips for NZ Seniors
The Silver Dollar Report 2026 shows that cost-of-living pressures are affecting older New Zealanders in different ways, from groceries and utilities to retirement savings and family support.
While financial confidence varies, many are taking practical steps to manage household budgets and protect long-term financial wellbeing.
1. Prioritise essential expenses first
Start with the non-negotiables, such as housing, groceries, utilities, transport, insurance, and healthcare. Separating essential costs from discretionary spending can make it easier to see where adjustments are possible.
2. Review regular payments and subscriptions
Small recurring costs can add up over time. Reviewing streaming services, memberships, phone plans, insurance policies, and utilities may help identify areas where better value is available.
3. Plan for family support within the budget
For those helping children, grandchildren, or other loved ones, setting a clear amount or timeframe for support can help reduce pressure on savings, KiwiSaver contributions, and retirement plans.
What the findings mean
The Silver Dollar Report 2026 points to a clear tension for New Zealanders over 50.
Many are concerned about the rising cost of living, uncertain about retirement savings, and feeling pressure to support younger generations. At the same time, they are continuing to make thoughtful choices about where their money goes, including protecting small pleasures, wellbeing, and connection.
For New Zealand seniors, the findings show a generation navigating financial pressure with care, resilience, and pragmatism. Budgets may be tightening, but many older New Zealanders are still choosing to use their Silver Dollar on the things that matter most.
Methodology
The Silver Dollar Report 2026 is part of the New Zealand Seniors Research Series.
The report is based on a quantitative online survey of more than 500 New Zealanders aged over 50. The research explored cost-of-living pressures, financial security, everyday spending, retirement confidence, KiwiSaver, housing, intergenerational financial support, wellbeing, and perceptions of what a comfortable retirement means in New Zealand.
11 Sept 2026