The survey found that investors' generations impacted their retirement outlook.

• Despite having the longest timeline to retirement, Gen Z was surprisingly pessimistic. Twenty-two percent say they will retire later than they thought they would before the pandemic, more than millennials or boomers. They were less likely to predict retiring early, too, with just 8% saying this was a likely outcome. They put their expected retirement age at 62.5.
• Millennials are looking forward to retiring. They were the generation most likely to say the pandemic has sped up their retirement timeline (15%), although 19% say they will now have to work longer. They also have the earliest predicted retirement date, at 61.3 years.
• Gen X was the most likely to say their retirements will have to wait. A quarter said they will push back their retirement date to an average 63.2 years old. Just 6% of Gen X said they would retire early.
• Gloomy boomers have the most pessimistic outlook about retirement following the pandemic. Just 4% say they will retire early, and 14% will retire late. They estimate their average retirement age will be 68.8, six years older than their counterparts plan to retire.

"These numbers illustrate what may be a distinct difference in the way generations view retirement," Christian Mitchell, executive vice president and chief customer officer at Northwestern Mutual, said in a statement. "Millennials appear to prioritize retirement earlier on, whereas other generations may be quicker to extend their retirement timelines outward. Much of this depends on individual circumstances, of course, but it also underscores that a long-term financial plan has to factor in the unexpected and be nimble enough to adjust course."