New research from Fidelity Investments finds that having a plan on paper does not necessarily leave families feeling prepared for the future. The 2026 Transition Ready Family study surveyed older adults who have taken important planning steps, yet only 37 per cent say they have strong peace of mind about their future plans. More than half of those who have completed plans still lack confidence. The findings, released from Boston, build on previous research that validated peace of mind as a top planning topic for all generations.
The study proposes that being transition ready requires more than wealth or completing planning documents. It also requires sharing information, discussing future responsibilities, and preparing loved ones to carry out important financial, health care, and estate decisions. When considering these elements, families with high levels of transition readiness are four times more likely to have high peace of mind than those with lower readiness. They are also five times more likely to have high confidence in their estate planning.
Wealth alone does not close the gap. More than four in 10 respondents with over $5 million in net worth reported only moderate or low peace of mind, and the wealthiest households are no more likely to have lower anxiety around their planning than their less affluent peers. Timothy Habbershon, managing director and founder of the Fidelity Center for Family Engagement, said many families assume that if they have accumulated assets and completed key planning documents, they are prepared. Creating a plan is only part of preparing families for future transitions, he said. For families to have peace of mind, it requires ongoing conversations and a shared understanding so family members can confidently carry out those plans.
Family communication may be the missing link. The study found that involving family in the planning process can make a meaningful difference in how prepared older adults feel about the future. Parents who regularly talk with their adult children about their wishes and share planning details are significantly more likely to feel confident and have greater peace of mind about their plans. Yet about one-third of parents say they have never openly discussed important future planning topics with their adult children.
When asked what keeps them from sharing details, many older adults said they had already talked and no further discussion was needed. Other top reasons include not feeling prepared and wanting to wait until later in life to have the discussions. Among parents who have never had open planning conversations with their adult children, the most common reason for not talking was simply not knowing how to start.
The research also suggests that many families may be overestimating the next generation’s readiness to step in when needed. While nearly two-thirds of parents believe their adult children could take responsibility for their finances, few have shared key planning details or discussed the responsibilities their children may eventually be asked to assume. Only 21 per cent of parents have communicated completed estate plans to their children. Those who involve family members by sharing completed plans are more than three times as likely to report higher confidence in their plans.
Amanda Lott, head of Financial Planning and Advice Products at Fidelity Investments, said families today are navigating increasingly complex financial and life decisions, from retirement and health care planning to estate and wealth transfer considerations. For many families, preparedness is not just about having a plan in place. It is about ensuring loved ones understand that plan and are ready to carry it forward when needed. The families with the greatest confidence tend to combine thoughtful planning with ongoing conversations about goals, responsibilities, and expectations.
The Fidelity Center for Family Engagement launched the study as part of its broader Generations Project research initiative examining how families approach conversations and decisions around generational planning. The research explored how transition readiness is based on a combination of preparation, conversations, and family engagement. Transition-ready families are not simply completing important planning documents. They are sharing planning details with loved ones, having ongoing family conversations, discussing future roles, and talking through how they will approach major transitions as a family. These behaviors are associated with significantly higher confidence, greater peace of mind, and lower anxiety about the future.
Publicis Sapient conducted a national survey of 654 married or partnered U.S. adults ages 55 or older with a total net worth of at least $500,000 and at least one child age 18 or older. Sampling and fieldwork screening were designed for accurate representation of the target population based on age, gender, total net worth, and household decision-making roles. The survey was conducted from November 7, 2025, to January 1, 2026. Assuming no sample bias, the maximum margin of error for full-sample estimates is plus or minus 3.5 per cent.
Fidelity Investments says its goal is to strengthen the financial well-being of customers and deliver better outcomes for clients and businesses. With assets under administration of $19.9 trillion, including managed assets of $7.8 trillion as of June 30, 2026, the firm focuses on meeting the unique needs of a broad and growing customer base. Privately held for 80 years, Fidelity employs more than 80,000 associates across North America, Europe, and Asia-Pacific.
The report also notes that investing involves risk, and the value of an investment will fluctuate over time. Fidelity does not provide legal or tax advice, and clients are advised to consult an attorney or tax professional regarding their specific situation. Past performance is no guarantee of future results. The Fidelity Center for Family Engagement is an affiliated business unit of FMR LLC and operates externally from Fidelity’s broker dealer and registered investment adviser entities.
