2026 Northwestern Mutual Planning & Progress Study: Financial Trends & Insights
Discover vital insights from the 2026 Northwestern Mutual Planning & Progress Study. Get a clear path forward and see how people like you are thinking about money.
Your financial journey is unique, but you don’t have to navigate it alone. When you’re feeling uncertain about what comes next, it often helps to hear how others are tackling similar challenges. Every year, we listen to people just like you to understand what is top of mind—from evolving behaviors and attitudes toward critical financial topics to wealth building and retirement. Our Planning and Progress Study brings these real perspectives together, offering you a clear view of how America is thinking about finances. More importantly, it provides you with meaningful, practical insights that can help inform decisions with confidence, no matter the economic environment.
What's in this guide
Section 01 The Financial States of America
Key Takeaways
Fifty-seven percent of Americans are citing inflation as their number one obstacle to financial security.
A sizeable number of Americans are investing in or considering investing in high-risk assets like prediction markets, sports betting, and crypto—and 73 percent of those drawn to these assets say they feel financially behind and see them as a way to catch up more quickly.
Additionally, more than half (52 percent) of Americans report a common financial blind spot: focusing too heavily on growing wealth without dedicating enough attention to protecting it against risks.
Seventy-one percent of Americans who work with an advisor report feeling financially secure.
As you look at your financial picture this year, you are not alone in feeling both progress and pressure. While more Americans are starting to feel financially secure, inflation continues to be a top concern, making it harder for many to feel fully on track day to day.
We asked, “What are your top three concerns as it relates to the potential impact they could have on your finances this year?”
That pressure to keep up is showing up in different ways. Some are drawn to higher-risk investments in hope of catching up more quickly, while others recognize they may be focusing too much on growing their money without doing enough to protect it. Together, these trends highlight a common challenge: balancing the desire to move faster with the need to build a strong, stable foundation.
We asked, “Are you currently investing—or considering investing over the next 12 months—in any of the following high-risk/speculative assets?”
While financial challenges can feel complex, there are steps individuals can take to better understand their options and plan for the future. Financial confidence isn’t about quick wins; it's about consistency, balance, and protecting what you have built over time. And for many people, working with a financial advisor can make a meaningful difference, helping turn uncertainty into a clearer, more confident plan for the future.
We asked, “Who do you trust most for financial advice?”
The good news is that feeling financially secure isn’t about having all the answers today–it’s about taking small, consistent steps toward understanding your options and protecting what you’re building. With a clear plan and the right support, you can turn today’s pressures into steady progress toward the future you envision.
Get the report: See our complete data on The Financial States of America
Section 02 Work & Retirement
Key Takeaways
The “magic number” Americans believe they need to retire comfortably has climbed to $1.46 million, up $200,000 from last year—and climbing more than 50 percent since 2020.
Forty-one percent of Americans plan to work or are currently working during retirement, while nearly half of Americans worry about outliving their savings.
One-third (33 percent) of Americans feel pessimistic about how artificial intelligence might impact their careers.
Seventy-four percent of those with an advisor feel confident they will be financially prepared for retirement, compared to just 43 percent of those without one.
As you think about your future, it’s completely natural to feel both hopeful and uncertain, especially as the definition of retirement continues to evolve. According to the 2026 Planning & Progress Study, the “magic number” Americans believe they need to retire comfortably has climbed to $1.46 million. This increase may reflect real pressures many are experiencing, from rising costs to longer life expectancies and changing career paths, making the path to financial security feel more complex than ever.
We asked, “Do you think you will be financially prepared when the time comes?”
If you’re rethinking what your own retirement might look like, you’re in good company. More people are planning to work or are already working in some capacity during retirement, whether by choice or necessity, and many share a common concern about outliving their savings. At the same time, uncertainty about the future of work—especially with the growing influence of artificial intelligence—is adding new questions about long-term stability and income.
We asked, “In your opinion, what is the likelihood that you could outlive your savings?”
All of this can feel like a lot to navigate, but it also highlights an important opportunity. Planning for retirement today isn’t just about reaching a number; it’s about building a flexible, thoughtful strategy that supports your goals and adapts as life changes. With the right approach, it’s possible to move forward with greater clarity and confidence, even in an uncertain environment.
Get the report: See our complete data on Work & Retirement
Section 03 Financial Independence
Key Takeaways
Forty-two percent of U.S. adults still rely on their parents for financial support, including more than half of Millennials and nearly three in four Gen Zers.
More than half (56 percent) of all U.S. adults say it is harder to achieve financial independence today than it was for previous generations.
Among those who are still financially dependent, more than eight in 10 (82 percent) Gen Zers believe they will be self-sufficient someday.
Whether you’re feeling financially independent or not, one thing is certain: You don’t have to figure it out on your own. The truth is that it’s a journey. According to the 2026 Planning & Progress Study, 42 percent of U.S. adults still rely on their parents for financial support. The good news? With the right support and a plan that’s built around your goals, financial independence is more within reach than it might feel today.
We asked, “How financially independent do you currently feel from your parents (meaning you could support yourself without them if needed)?”
The path to financial independence looks different than it did for previous generations—and that’s something people across all walks of life are feeling. Shifting economic conditions and rising costs have made the journey more complex, but that complexity is also a signal that having a thoughtful plan matters more than ever.
We asked, “Do you believe achieving financial independence is easier or harder today than it was for previous generations?”
Among younger generations, confidence in their financial future is a real and powerful force—and that optimism is a meaningful place to start. Wherever you are on your journey, the most important step is simply deciding to get started.
Get the report: See our complete data on Financial Independence
Section 04 Love, Money & Relationships
Key Takeaways
Six in 10 Americans (60 percent) say poor money habits are a “dealbreaker” in a new relationship.
Among singles who say income is important, the average income of their ideal partner is in the six figures.
Nearly three-quarters (72 percent) of Americans believe couples should discuss finances well before getting married or moving in together.
Financial stress doesn’t just affect your bank accounts – it touches your relationships, your sense of security, and your outlook on the future. For many, how you and your partner manage money together has become as vital to a lasting connection as anything else.
We asked, “Which of the following financial behaviors do you consider the biggest red flags in a relationship?”
Among singles who say income matters, the average ideal partner income is $139,000 per year, yet a reassuring 59 percent of singles don’t believe a potential partner’s income is important. Whether you’re navigating the dating world or building a life with someone, questions about financial compatibility can feel vulnerable and uncertain.
We asked, “When thinking about a potential life partner, how much would they ideally (and realistically) make in a year? (Among singles who say income is important)
Many people in serious relationships say financial compatibility matters more than emotional chemistry, physical attraction, or shared interests. Yet many couples find that conversation hard to start. While 72 percent of Americans believe financial discussions should happen well before marriage or moving in together, nearly one in five married or cohabitating couples (19 percent) waited until after those milestones. If this sounds familiar, take heart – half of all serious couples say their financial compatibility has improved over time, a reminder that it’s never too late to turn money from a source of stress into a foundation of shared strength.
We asked, “Do you think that financial compatibility is more important than the following for maintaining healthy, successful, long-term relationships?”
What ties all of this together is a simple truth: Being aligned with your partner on money is one of the most meaningful ways toward a healthy, long-term relationship. Fortunately, you don’t have to have it all figured out. You just have to be willing to start the conversation.
Get the report: See our complete data on Love, Money and Relationships
Section 05 Gen Z & Millennials
Key Takeaways
Nearly three in four Gen Z adults (72 percent) and more than half of Millennials (56 percent) say financial challenges have caused them to postpone at least one significant financial life milestone.
For many, the concern runs deeper: 71 percent of Gen Z and 60 percent of Millennials believe they may never be able to afford at least one of life's milestones.
Nearly half of Gen Z (46 percent) and one-third of Millennials (32 percent) express pessimism about the potential impact of artificial intelligence on their careers.
Roughly one in four Gen Z’ers (24 percent) and Millennials (25 percent) sought professional advice from a financial advisor for the first time this past year.
For many younger adults, life's biggest financial milestones can feel increasingly out of reach. The 2026 Planning & Progress Study found that financial challenges have delayed major milestones for a large majority of Gen Z adults and more than half of Millennials, including homeownership, marriage, starting a family, and paying for education. Many don't expect these delays to be temporary, and an increasing number worry they may never be able to afford some of these goals.
We asked, “Have financial challenges or concerns caused you to delay any of the following major financial life milestones?”
Among Gen Z and Millennials already raising children, the financial demands are immediate and substantial–more than seven in 10 of Gen Z and Millennial parents say they spend as much or more on their kids each month as they do on rent or a mortgage. Taken together, it’s easy to see why the path forward can feel narrower than it did for the generations before you.
We asked, “Which of the following best describes how you feel about the potential impact of artificial intelligence (AI) on your career?”
Beyond rising everyday expenses, many younger adults face uncertainty about their careers, with nearly half of Gen Z and a third of Millennials concerned about AI’s impact on their long-term earning potential.
Yet the study also points to a hopeful reality: Many younger adults started saving for retirement in their twenties. Those who work with an advisor started in their early 20s (Gen Z) and 30s (Millennials). On average, among those who have not yet retired, Gen Z aims to retire at age 61, three years sooner than Millennials (64) and six years earlier than Gen X’ers (67).
We asked those working with a financial advisor, “At what age did you start working with a financial advisor?”
Younger generations are showing that it’s never too early to take charge of your financial future, starting sooner and building habits that grow over time. Whatever stage you’re in, the most powerful thing you can do is simply begin, because every small step you take today shapes the future you’re working toward.
Get the report: See our complete data on Gen Z & Millennials
Section 06 FAQ
How long has the Planning & Progress Study been running?
The 2026 edition is the 18th annual Planning & Progress Study, making it a nearly two-decade-long effort to track how Americans’ financial outlook and behaviors evolve over time. The study began in 2009.
Who conducted the 2026 study, and how many people were surveyed?
The 2026 Planning & Progress Study was conducted by The Harris Poll on behalf of Northwestern Mutual among 4,375 U.S. adults aged 18 or older. The survey was conducted online between January 5 and January 21, 2026.
How is the survey data representative of the U.S. population?
Data are weighted where necessary by age, gender, race/ethnicity, region, education, marital status, household size, household income, and propensity to be online to bring them in line with their actual proportions in the population. A complete survey methodology is available.
Does the study include high-net-worth individuals?
Yes. The overall sample includes an oversample of 816 high-net-worth individuals – defined as those with total household investable assets (excluding pensions, retirement plans, and property) greater than $1,000,000.
What other financial trends does the 2026 study explore?
The 2026 study examines a range of topics, including financial independence and parental support, plans to work during retirement, attitudes toward AI and careers, inflation expectations, and younger adults’ engagement with non-traditional and higher-risk investments.