In a year marked by economic volatility, rising costs, and shifting generational priorities, the 2025 U.S. Bank Wealth Survey reveals a profound crisis of confidence among Americans, one that is reshaping not only financial behaviors but the very contours of the American Dream.
The survey, conducted in June 2025, polled 5,000 U.S. adults across gender, net worth, and generational lines. Its findings are clear: Americans are making smart financial choices like budgeting, saving, and cutting back on expenses, yet many feel stuck, unable to reach long-term goals like homeownership, retirement, and family planning. The culprit? A growing sense that their futures are shaped by forces beyond their control, from housing costs and inflation to market volatility and political uncertainty.
Most Americans feel confident managing their day-to-day finances. Nearly eight in ten report feeling in control of their jobs, and seven in ten feel they can manage the costs of saving for retirement. However, this confidence evaporates when it comes to broader economic forces.
Eight out of ten feel anxious about stock market fluctuations, and nine out of ten are uneasy about the overall economic environment. Over half feel powerless against the economy and market swings, fueling anxiety and emotional stress.
Financial advisors increasingly find themselves acting as therapists, helping clients navigate not just numbers but emotions. The survey underscores the importance of reassurance and direction, showing that even small steps can make a big difference when the bigger picture feels out of control.
This loss of confidence isn’t just a feeling – it’s changing real-life decisions. More than three- quarters of Americans say the economy is influencing when they retire, whether they buy or rent a home, and even where they live. For Gen Z, the impact is especially pronounced, with nine out of ten reporting that economic conditions affect their major life choices.
Despite uncertainty, the definition of success remains stable: meaningful relationships, homeownership, and the ability to retire comfortably. More than nine in ten value family and community, and nearly nine in ten see homeownership as a key indicator of financial success. Yet, for younger generations, these goals feel increasingly inaccessible.
Nearly one in four Americans have given up on buying a home due to cost, with Gen Z and Millennials most affected. The disconnect between aspirations and achievability is stark, and many are stepping back from planning for goals that seem impossible.
The upshot is that Americans are acting on their finances today – 68% have created a household budget, 53% have increased emergency savings, and 42% are planning to move to more affordable housing. However, long-term planning is taking a backseat. Only 48% contribute monthly to retirement funds, and 22% haven’t begun considering retirement planning at all. Without a roadmap, it’s easy to get stuck managing month-to-month and lose sight of bigger goals.
Retirement is perhaps the biggest goal for most Americans, and it’s where the confidence gap is widest. Fewer than four in ten non-retired adults are actively planning and saving for retirement, and less than six in ten are confident their savings will last. Nearly seven in ten Gen Z and Millennials worry they’ll outlive their savings, and more than six in ten fear they’ll need to return to work after retiring. Longevity and economic volatility are changing retirement norms and reshaping wealth planning needs.
There is good news: the survey shows that financial planning and professional advice can close the confidence gap. Americans who work with an advisor or follow a financial plan consistently feel more secure about their future. For example, 78% of those with an advisor feel confident about retiring comfortably, compared to just 48% without one. Even among those with less than $50,000 in net worth, having a financial plan nearly doubles confidence in retirement readiness.
The 2025 U.S. Bank Wealth Survey paints a picture of disciplined Americans – budgeting, saving, and doing the right things, yet still disheartened by outcomes that feel out of reach. The crisis of confidence is real, but so is the opportunity: with planning, advice, and a focus on what can be controlled, Americans can regain confidence in their financial futures and keep moving toward their dreams, even in uncertain times.
