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Americans Struggle with Financial Uncertainty Amid Tariffs, Volatility, and Recession Fears

Strategic Insights

— 2 min read

Only 42% of Americans feel prepared to navigate shifting financial challenges, including higher costs from tariffs, market volatility, and recession concerns. As a result, more than two-thirds of respondents worry that the unpredictable economic environment could derail their financial goals. However, working with a financial advisor can significantly improve one's preparedness, with nearly six in 10 respondents saying they feel prepared to manage evolving economic concerns when working with a financial advisor, compared to just 30% without one.

Key Takeaways:

  • Only 42% of Americans feel prepared to navigate shifting financial challenges, including higher costs from tariffs, market volatility, and recession concerns.
  • More than two-thirds of respondents worry that the unpredictable economic environment could derail their financial goals.
  • Working with a financial advisor can significantly improve one's preparedness, with nearly six in 10 respondents saying they feel prepared to manage evolving economic concerns when working with a financial advisor, compared to just 30% without one.
  • Approximately half of respondents plan to cut discretionary spending, boost savings, and adjust their investment portfolios.
  • Those working with a financial advisor are far more likely to adjust their financial portfolio, with 54% saying they plan to make changes to their investments or product mix, compared to just 36% of survey respondents without a financial professional.
  • 80% of survey respondents who work with a financial advisor turn to their advisor first for advice, followed by financial news outlets and friends and family.
  • In contrast, those without an advisor rely primarily on friends and family, then financial news outlets and social media platforms like TikTok and Instagram for financial guidance.
  • Nearly two-thirds of respondents investing in the stock market are willing to trade the potential for higher returns for protection against market losses.
  • Clients with financial advisors are more likely to stick with a plan that reflects their personal goals and risk tolerance, rather than reacting to market volatility.

Statistics:

  • 42% of Americans feel prepared to navigate shifting financial challenges (Equitable, July 15)
  • 67% of respondents worry that the unpredictable economic environment could derail their financial goals (Equitable, July 15)
  • 42% of respondents without a financial advisor feel prepared to manage evolving economic concerns, compared to 60% with a financial advisor (Equitable, July 15)
  • 50% of respondents plan to cut discretionary spending (Equitable, May 13-21, 2025)
  • 54% of those working with a financial advisor plan to make changes to their investments or product mix (Equitable, May 13-21, 2025)
  • 80% of survey respondents who work with a financial advisor turn to their advisor first for advice (Equitable, May 13-21, 2025)
  • 67% of respondents investing in the stock market are willing to trade the potential for higher returns for protection against market losses (Equitable, May 13-21, 2025)

Sources:

  • Equitable, "Equitable Survey Reveals Americans Feeling Unprepared to Navigate Shifting Financial Challenges" (July 15)
  • Equitable, "2025 Survey Results" (May 13-21, 2025)
  • Contify, "Commercial Services & Supplies, ESG" (Copyright 2017)

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