Northwestern Mutual’s annual Planning and Progress Study is out, and the results this year offer a compelling look at the national financial landscape. The study examines U.S. adults across generations to understand attitudes and behaviors toward money, financial decision-making, and long-term security.

Given the recent economic volatility, the findings naturally reflect heightened uncertainty. However, they also reveal a key constant: while every generation manages different goals, family demands, and attitudes toward wealth, seeking financial advice from a trusted resource remains vital.

The study found that two-thirds of Americans feel their financial planning needs improvement. While social media platforms like YouTube, TikTok, and Instagram might be fine for DIY house projects or learning new tech, when it comes to managing complex personal wealth, people overwhelmingly prefer professional guidance from a financial advisor.

The One Thing Every Generation Worries About

Across all demographics, being financially prepared for retirement is the single greatest concern. Among Gen Z, Millennials, and still-working Boomers, over 50% expect to be prepared for retirement. Gen X stands out as the outlier with only 45% feel confident they will be ready.

Younger professionals also expect to carry more of the burden themselves. Gen Z and Millennials are not relying heavily on Social Security. In fact, 42% don’t expect it to be available, and those who do expect it to account for only 15% to 20% of their total retirement income.

Younger Generations Expect More from Financial Planners

While all age groups value advisors for their professional expertise, long-term perspective, and accountability, mid-career professionals, particularly Millennials and Gen Z, seek a much deeper partnership. For them, aligning finances with family values, saving precious time, and staying informed about changing financial legislation are top priorities.

How Can You Build a Confident Financial Future?

A key takeaway from the study is that individuals who collaborate with a financial advisor express far greater confidence in their overall journey, from funding retirement to handling unexpected expenses and achieving long-term security.

However, the foundation of a great planning experience is finding a partner you truly trust, someone who understands your specific world.

How do you do that?

It comes down to selecting an advisor who aligns with your current stage of life. For busy medical professionals, clinical directors, and med-tech executives balancing demanding careers with family life, that means navigating a unique set of financial opportunities and challenges, such as:

• Cash flow and lifestyle planning
• Evaluating investment properties or real estate holdings
• Career transition planning, equity compensation, and maximizing complex employer benefits
• Targeted retirement savings strategies
• Tax minimization strategies
• Comprehensive risk management, including personal liability and specialized professional disability insurance
• Funding college savings plans for kids from kindergarten through high school

For most established families, the ultimate goal is achieving both financial clarity and flexibility. Understanding your choices and evaluating trade-offs is a modern, comprehensive approach to financial planning that extends far beyond basic stock picking.

A dedicated advisor acts as your financial quarterback, coordinating with your CPA, estate attorney, and other specialists so you can see your complete financial picture and make empowered decisions. As your career evolves, your children grow, and life shifts, a well-built plan allows you to adapt smoothly.

Technology Is a Key Attribute

Effective planning relies on clear, effortless communication. Today’s busy professionals want an advisor who is tech-forward, accessible, and responsive. Partnering with an advisor who meets you where you are helps keep your plan on track without adding stress to your schedule.

The Bottom Line

Working with the right financial advisor helps you build the future you envision for your family, while providing peace of mind today. You deserve to enjoy your hard-earned success now while maintaining clear, flexible options for tomorrow. Finding a trusted advisor who understands your industry and life stage makes all the difference.