Most Americans Feel Unprepared for Today’s Economy — Unless They Have a Financial Advisor

Economic Preparedness - A significant portion of Americans feel unprepared for current financial challenges, with only 42% feeling ready to handle these issues, while over two-thirds express concern that the economy may derail their long-term goals [1] - High inflation, elevated interest rates, and tariffs are contributing to the financial strain felt by households [1] Financial Advisory Impact - Individuals with financial advisors report feeling twice as prepared for financial challenges compared to those without [2] - Nearly 60% of people with an advisor feel prepared for current financial pressures, while only 30% of those without an advisor share this sentiment [5] - Trust in financial advisors is a key factor, with 39% of individuals citing trust in their advisor's experience as a primary reason for seeking professional help [7] Financial Planning Trends - A growing demand for financial planning is evident, with 78% of respondents considering how to manage their money amid high inflation, and 77% adhering to budgets more closely due to rising prices [4] - Approximately 62% of individuals have postponed major purchases, while 52% report having a financial plan that contributes to their sense of security [4] - About half of Americans plan to cut discretionary spending, increase savings, or adjust investments this year, indicating a shift towards more conservative financial strategies [4] Portfolio Adjustments - Individuals with financial advisors are more proactive in adjusting their portfolios, with 54% planning changes compared to 36% of those without professional support [6]