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In a nutshell
- 53% of Americans feel “financially frozen,” unable to make confident decisions about their money despite abundant information available online.
- While people believe retirement planning should start at age 29, most don’t get serious until age 38—costing them potentially hundreds of thousands in lost growth.
- Young Americans are breaking the pattern: Gen Z starts planning for retirement at 25 on average, compared to 38 for Gen X and 43 for Baby Boomers.
NEW YORK — Most of us have felt that deer-in-headlights moment when facing our finances. Should I invest more? Am I saving enough? Can I afford this purchase? According to new research, this isn’t just occasional anxiety – it’s a chronic condition for many Americans.
A fresh survey shows 53% of Americans admit they feel “financially frozen” – stuck, overwhelmed, or flat-out confused about what to do with their money. And this is happening despite (or perhaps because of) the flood of financial advice from Instagram influencers, TikTok experts, and robo-advisor apps.
Daily Money Worries Keep Americans Up at Night
What’s causing this financial paralysis? According to the 2,000 people surveyed by Talker Research for Zoe Financial, it starts with everyday concerns. About 36% worry most about covering necessities, while another 36% stress about keeping their monthly spending in check.
The money headaches don’t stop with daily expenses. About 22% fret about their savings approach, 21% worry about having enough for retirement, 20% stress over paying down debt, and 9% feel anxious about investing.
“It can be challenging to navigate an ever-changing world with financial confidence,” said Andres Garcia-Amaya, CFA, Zoe Financial’s Founder & CEO, in a statement. “Finding advice you can trust isn’t always easy, but with the right help, people can feel more in control of their financial journey.”
Information Overload Is Making Things Worse
The internet never runs short of financial opinions. Want investment tips? There are thousands. Need budgeting help? Take your pick from countless apps and blogs. But this flood of information isn’t helping—it’s making things worse.
People feel most lost when dealing with inflation and rising costs (25%), making investment decisions (24%), and figuring out how to budget and save (23%).
Most Americans (83%) want better financial preparation, but over half (53%) are stuck at square one, unsure where to begin or worried they’ve already missed the boat on getting helpful advice.
The timing gap is especially telling with retirement planning. While people believe the ideal age to start planning is 29, most don’t get serious until they’re 38. That nine-year delay costs big—potentially hundreds of thousands in missed growth.
The Human Touch Still Matters in Financial Planning
Despite the tech revolution in finance, Americans aren’t ready to let AI manage their money just yet. When asked about financial advice, 37% of people said they’re uncomfortable trusting AI-only solutions, preferring a human touch. People rated human advisors higher than AI tools across the board—more trustworthy (58%), easier to understand (50%), and more effective (47%).
Yet only 26% of Americans have a financial advisor. That means nearly three out of four people are making complex financial choices without professional guidance.
Why don’t more people get help? Misconceptions play a big role. About 39% of people without advisors think they can’t afford one. Another 24% believe they don’t have enough money to justify getting advice.
“Finances are deeply personal and often emotional, so many people hesitate to blindly trust technology with their financial future,” Garcia-Amaya added. “People still think financial advice and investment management are only for the wealthy, which can discourage them from seeking guidance.”
Breaking Free from the Financial Freeze
The survey reveals some positive signs amid the financial anxiety. Younger Americans are breaking the late-start pattern that trapped previous generations. Gen Z is jumping on retirement planning at age 25 on average—a full 13 years earlier than their Gen X parents (who started at 38) and 18 years ahead of Baby Boomers (who waited until 43).
For those feeling stuck, the research points to several practical strategies: tackle one financial challenge at a time, focus on learning about the specific money topics that confuse you most, and consider that financial advice is becoming more accessible to everyday Americans.
The money freeze gripping half of Americans won’t disappear overnight. But understanding what causes it is the first step toward breaking free.
Methodology
This article draws from a survey of 2,000 Americans, commissioned by Zoe Financial and conducted online by Talker Research between February 13–18, 2025.
