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?"
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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 December 21, 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 December 21, 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: December 21, 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 December 21, 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/
