Only one in five Britons has given any thought to how they will afford their retirement, according to new research from online pension adviser Wealth Wizards.
And an incredible one in 20 - or 5% - are living in hope that a lottery win will help them enjoy their old age.
Andrew Firth at Wealth Wizards said: "The research shows that many people are still not planning effectively for their futures, or are hanging their hopes on money that may not arrive."
Those holding out for a lottery jackpot are not the only ones praying for events that may never take place, though.
Researchers also found that more than one in 10 people are pinning their hopes on their homes increasing in value and allowing them to sell up or release equity to cover retirement living costs.
Another one in 10, meanwhile, are hoping that inheritance money will see them through.
Despite auto-enrolment, only a third of Britons believe that their workplace pensions will provide enough income to support them in retirement.
And among those with no workplace schemes, only a fifth think the state pension will be sufficient to carry them through their post-work years.
The findings indicate that these older savers have accepted that their retirement provision is insufficient, while those aged between 35 and 44 continue to dream of house price increases, an inheritance or a lottery windfall.
Firth believes that the key to ensuring people are better prepared is to ensure they have access to the right advice.
"With auto-enrolment, many more Britons have pensions," he said. "But they are often not clear how much they will need or how they will manage during their retirement years.
"Our service, which is often provided as part of an employee benefits package, can provide advice so that people are not holding out for a windfall that may never arrive."