Wealth Watch: Inflation and uncertainty widen Americans’ financial confidence gap.

New York Life | September 10, 2025

 Working with a financial professional increased confidence in ability to meet financial goals and retire comfortably.

New York Life’s latest edition of Wealth Watch reveals that economic uncertainty has created a growing “financial confidence gap” for many Americans. This gap is particularly pronounced when it comes to retirement readiness, with many Americans feeling uncertain about their ability to handle unexpected expenses, manage debt effectively, or secure their financial future.

More than one-third of adults (35%) surveyed say they’ve delayed or plan to delay retirement, citing a lack of savings (51%), inflation (46%) and an economic environment (32%) as the main reasons; and nearly one-third (32%) of respondents aren’t sure if they’ll outlive their savings. Additionally, fewer than half (45%) have a strategy for healthcare or long-term care, representing critical gaps in retirement planning.

However, the survey found Americans who work with a financial professional report significantly higher confidence in their ability to meet financial goals, retire with enough money saved up, and feel sufficiently prepared for financial emergencies.

• A large majority of those who work with a financial professional reported feeling confident that they will save enough for retirement, compared with those who don’t work with one (87% vs. 49%, respectively). 
• Similarly, 85% of adults who have leveraged financial professionals report confidence in achieving their goals, as opposed to 58% with no professional financial guidance. 

Adults with protection products in their portfolios, such as life and long-term-care insurance, also reported increased confidence compared with those who don’t own those products:

• 72% felt confident they would have enough saved up to retire, compared with 49% who don’t invest in protection products. 
• 74% of respondents with protection products felt confident in meeting their financial goals, as opposed to 52% without them.

The latest Wealth Watch survey was fielded between June 14-15, 2025, and surveyed 2,262 American adults. Results from the survey have a margin of error of +/- 2 points.

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