MDRT study: 8 in 10 Americans concerned about potential recession implications

PARK RIDGE, Ill., Dec. 02, 2025 (GLOBE NEWSWIRE) -- The lingering risk of a recession has many Americans on edge about the short- and long-term consequences — and they’re already making decisions about adjustments to their financial plans. A recent survey from MDRT, The Premier Association of Financial Professionals^®, discovered that 80% of American consumers are at least slightly concerned about the onset of a recession. With Americans already feeling the pressure from current economic conditions, it’s more important than ever to ensure financial plans have adequate guardrails, regardless of economic outcomes.

Top consumer concerns
According to the survey, Americans have these top five concerns if a recession occurred:

• 87% would be concerned about increased inflation.
• 81% would be concerned about loss of or a decrease in income, with millennials (29%) more concerned than Gen Z (19%).
• 80% would be concerned about cutting back on essentials, with women (54%) and millennials (29%) expressing highest levels of concern.
• 78% would be concerned about being unable to afford health care.
• 77% would be concerned about being unable to save or invest for the future.
  

The recurring theme across these concerns is the impact on consumers’ daily lives — will people lose their jobs? Will grocery prices continue to increase? Americans need a higher sense of security in these circumstances, especially women and millennials, as they expressed the most concern in each category.

Plans for cost cutting
A recession requires consumers to account for every dollar coming in and going out, and many Americans already know where they’d reduce spending first. According to the survey, dining out (55%) and travel and leisure (55%) would be the top costs consumers would eliminate. Additionally, 44% would eliminate financial advisory services and 36% would eliminate investments.

“Advisors are in a key position to help clients understand the components of the economy and refocus their energy on personal planning,” says MDRT Top of the Table member Renee Hanson, CFP, CDFA. “With advisors’ extensive knowledge base and interpersonal skills, they can help clients align their values, goals and risk tolerance, within the framework of their financial identity, to refocus client’s energy on living a comfortable and confident life through all economic environments.”

Survey Methodology
This survey was conducted by Opinium on behalf of MDRT through a panel of individuals who have agreed to take part in surveys. Fieldwork was undertaken September 29–October 9, 2025, with a representative sample of 2,000 U.S. consumers, weighted on age, gender, region, race, ethnicity and education according to the 2020 U.S. Census. 

About MDRT
Founded in 1927, MDRT (Million Dollar Round Table), The Premier Association of Financial Professionals^®, is a global, independent association of the world's leading life insurance and financial services professionals from more than 80 nations and territories and nearly 700 companies. MDRT members demonstrate exceptional professional knowledge, strict ethical conduct and outstanding client service. MDRT membership is recognized internationally as the standard of excellence in the life insurance and financial services business. For more information, please visit mdrt.org.