In 2020, 28 percent of U.S. Millennials revisited their financial plans and made significant adjustments during the COVID-19 pandemic. Only 11 percent of Baby Boomers decided to significantly change their financial plans at that time.
Share of adults who revisited their financial plan and made significant adjustments in response to the COVID-19 pandemic in the United States in 2020, by generation
Gen Z (n=274), Millennials (n=619), Gen X (n=511), and Boomers (n=581)
Method of interview
Online survey
Supplementary notes
This question was phrased by the source as follows: "How has the market volatility and economic downturn prompted by the COVID-19 pandemic impacted your approach to financial planning?"
Profit from the additional features of your individual account
Currently, you are using a shared account. To use individual functions (e.g., mark statistics as favourites, set
statistic alerts) please log in with your personal account.
If you are an admin, please authenticate by logging in again.
Learn more about how Statista can support your business.
Northwestern Mutual. (June 1, 2020). Share of adults who revisited their financial plan and made significant adjustments in response to the COVID-19 pandemic in the United States in 2020, by generation [Graph]. In Statista. Retrieved November 19, 2024, from https://www.statista.com/statistics/1178179/financial-plan-adjustments-covid19-usa-generation/
Northwestern Mutual. "Share of adults who revisited their financial plan and made significant adjustments in response to the COVID-19 pandemic in the United States in 2020, by generation." Chart. June 1, 2020. Statista. Accessed November 19, 2024. https://www.statista.com/statistics/1178179/financial-plan-adjustments-covid19-usa-generation/
Northwestern Mutual. (2020). Share of adults who revisited their financial plan and made significant adjustments in response to the COVID-19 pandemic in the United States in 2020, by generation. Statista. Statista Inc.. Accessed: November 19, 2024. https://www.statista.com/statistics/1178179/financial-plan-adjustments-covid19-usa-generation/
Northwestern Mutual. "Share of Adults Who Revisited Their Financial Plan and Made Significant Adjustments in Response to The Covid-19 Pandemic in The United States in 2020, by Generation." Statista, Statista Inc., 1 Jun 2020, https://www.statista.com/statistics/1178179/financial-plan-adjustments-covid19-usa-generation/
Northwestern Mutual, Share of adults who revisited their financial plan and made significant adjustments in response to the COVID-19 pandemic in the United States in 2020, by generation Statista, https://www.statista.com/statistics/1178179/financial-plan-adjustments-covid19-usa-generation/ (last visited November 19, 2024)
Share of adults who revisited their financial plan and made significant adjustments in response to the COVID-19 pandemic in the United States in 2020, by generation [Graph], Northwestern Mutual, June 1, 2020. [Online]. Available: https://www.statista.com/statistics/1178179/financial-plan-adjustments-covid19-usa-generation/
