Path to Prosperity

The Guardian Study of
Financial and Emotional Confidence™

EMPOWERING YOU TO TAKE CONTROL OF YOUR FINANCIAL FUTURE

What keeps you up at night? What makes you tick? Are everyday stressors affecting your financial decision-making?

We surveyed a large representative sample of working Americans to find out what behaviors lead to their emotional and financial confidence, and how modern-day stress influences financial decision-making.

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What makes our research unique?

We conduct ongoing research to discover the motivations behind financial behaviors. We are continually uncovering new insights and sharing what we find about the financial and emotional confidence of American workers.

Find out more about our methodology.

What makes our research unique?

We conduct ongoing research to discover the motivations behind financial behaviors. We are continually uncovering new insights and sharing what we find, whether related to the financial and emotional confidence of Americans as a whole, or the unique needs of millennials in the digital age.

Find out more about our methodology.

Resources

Unsurprisingly, working Americans are pretty stressed overall...

Americans are stressed about:

41%

30%

22%

21%

are troubled by chaos
in the world

fear losing their jobs

feel overwhelmed during
their day-to-day lives

feel the pace of societal
change is too fast for them

Americans Are Stressed About:

41%
are troubled by chaos in the world
30%
fear losing their jobs
22%
feel overwhelmed during their day-to-day lives
21%
feel the pace of societal change is too fast for them

In fact, 1 in 6 Americans claim that they are very dissatisfied with their life

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...however, Americans have a clear sense of their top life priorities. They include...

Key Priority

“Being Happy” is far and away a top life priority

Key Priority

Having enough money to enjoy life

Key Priority

Staying fit and healthy

Key Priority

Retiring with a secure and adequate income

Key Priority

“Being Happy” is far and away a top life priority

Key Priority

Having enough money to enjoy life

Key Priority

Staying fit and healthy

Key Priority

Retiring with a secure and adequate income

When it comes to major financial priorities, both “retirement” and “having a plan” feature significantly:

51%

of people prioritize having at least some guaranteed income apart from Social Security in retirement

50%

of people prioritize building savings for any reason

46%

of people prioritize having a solid, long-term plan for achieving financial objectives

45%

of people prioritize protecting your family financially if you die or are unable to work

42%

of people prioritize just keeping up with your monthly expenses

41%

of people prioritize saving for routine expenses in retirement

39%

of people prioritize saving for unexpected expenses in retirement

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How confident are you that you are in control of your financial future?

Take the quiz!
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Compared to other generations, millennials place more emphasis on saving for big future purchases (such as a home, car or boat), paying down debt and keeping up with monthly expenses.

Financial security is a high priority for many working Americans. But still, many struggle with basic personal finance matters, such as budgeting, saving and planning for the future.

Nearly 40% of Americans avoid dealing with their finances because they feel overwhelmed by them...

...and more than 1 in 3 Americans consider delaying retirement.

How does your spending line up with your priorities?

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Find out where your money is going today — and how you might better use it tomorrow.

PLAY THE CASH STASH DASH

Through what we’ve learned about working Americans like you, it is apparent that financial and emotional satisfaction are inextricably linked.

People who are most satisfied with life are also financially confident, and those who are least satisfied with life are struggling with their finances.

The real surprise?

The survey data shows that there is, in general, a major gap between attitudes and behaviors. Living Confidently provides tools and resources to help you to change habits and behaviors to better support your priorities.

The survey data shows that there is, in general, a major gap between attitudes and behaviors. Living Confidently provides tools and resources to help you to change habits and behaviors to better support your priorities.

So what does this mean?

Americans exhibit stress and confidence in varying degrees, and surprisingly, significant levels of stress can be found at all income levels — even among those making significantly more than the average income level.

We found that Americans generally fall into one of four categories, based on their behavior and attitudes, when it comes to financial and emotional confidence.

Confident Planner

Have it figured out when it comes to finances and staying happy and healthy.

CONFIDENT
PLANNER

Have it figured out when it comes to finances and staying happy and healthy.

Ambitious Spender

Enjoy being a respected member of their community and keeping up with trends.

AMBITIOUS
SPENDER

Enjoy being a respected member of their community and keeping up with trends.

Retirement Realist

Place a priority on work/life balance, family and meaningful experiences in retirement.

RETIREMENT
REALIST

Place a priority on work/life balance, family and meaningful experiences in retirement.

Day-to-Day Decision-Maker

Tend to focus on today’s demands and having enough money to enjoy life.

DAY-TO-DAY
DECISION-MAKER

Tend to focus on today’s demands and having enough money to enjoy life.

And we found that Americans who are confident and satisfied are generally doing these things right…

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Good Financial Habits

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They have a stronger understanding of basic financial principles and financial solutions

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They own a diverse set of protection and growth solutions to address their financial needs

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They have a written plan, often created by working with a financial professional

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They live within their means and have healthy attitudes about money that are long-term focused

Making a few small changes in how you approach your financial habits could not only put you on track to be more financially confident — they may help you to achieve greater satisfaction and confidence.

Millennials value financial planning even more than the generations that preceded them.

I do planning

  • 76% Millennials
  • 67% Gen X
  • 66% Baby boomers

I have a written plan

  • 56% Millennials
  • 48% Gen X
  • 42% Baby boomers

Follow the path of the most confident working Americans and identify where you can start making small changes today.

Good news! You can help yourself toward reaching your full financial potential by making small changes today.

Take the first steps

Want to find out more about the research?

Download the study white paper

How does your confidence measure up?

Take the quiz!

It’s never too late to take control of your financial future. Start making small changes today to help you create an even better tomorrow.

How does your confidence measure up?

Take the quiz!

Brought to you by The Guardian Network © 2018, 2022. The Guardian Life Insurance Company of America®, New York, NY

2022-134444 Exp 03/24

Source: The Guardian Study of Financial and Emotional Confidence™, 2021

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