Washington, D.C. Area Residents Worry Key Financial Milestones Are Becoming Harder to Reach

WASHINGTON, D.C., Aug. 6, 2026 — As Americans navigate inflation, housing affordability challenges and economic uncertainty, many residents across the Washington metropolitan area are questioning whether some of life's most important financial milestones remain attainable.

According to Northwestern Mutual's 2026 Planning & Progress Study, Washington-area residents report concerns about affording major life goals such as homeownership, retirement and leaving a financial legacy for loved ones.

Among D.C.-area residents surveyed, nearly one-quarter (24%) worry they may never be able to afford buying a home, compared to 19% nationally. More than one in five (22%) are concerned they may never be able to afford retirement, while 17% worry they may never be able to pay off their mortgage. These findings come as many individuals continue to weigh the financial impacts of an evolving economic and employment landscape.

"People throughout the Washington region are paying close attention to economic developments because they see firsthand how policy decisions, market conditions and workforce changes can impact their financial lives," said Leo Tucker, Managing Partner of Northwestern Mutual-Washington. "Whether someone works in government, consulting, technology, healthcare or the private sector, many are asking the same question: How can I create financial stability in an environment that feels increasingly unpredictable?"

Financial Challenges Continue to Influence Long-Term Decisions

The study found that financial pressures are causing some Washington-area residents to delay important milestones. Fourteen percent say financial concerns have delayed paying for higher education, while 13% report delaying plans to leave an inheritance to loved ones. Twenty percent say they have delayed purchasing a home due to financial challenges.

While concerns persist, many residents are demonstrating proactive financial behaviors. Washington-area adults begin saving for retirement at an average age of 29 – the national average being 31. Additionally, 17% report working with a financial advisor for the first time during the past year, slightly above the national average of 16%.

Balancing Present-Day Pressures with Future Goals

The research suggests that many Washington-area residents remain focused on long-term planning despite near-term economic challenges. Among those still working, respondents expect to retire at an average age of 65, aligned with the national average. At the same time, 30% report not yet having started saving for retirement, highlighting the importance of taking action sooner rather than later.

"Financial planning can help provide confidence amid uncertainty," Tucker added. "While markets, interest rates and policy environments may change over time, having a personalized strategy allows individuals and families to stay focused on what they can control and continue making progress toward their goals."

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About the 2026 Northwestern Mutual Planning & Progress Study

The 2026 Planning & Progress Study was conducted by The Harris Poll on behalf of Northwestern Mutual among 4,375 U.S. adults age 18 or older. The survey was conducted online between Jan. 5 and Jan. 21, 2026. Data were weighted where necessary by age, gender, race/ethnicity, region, education, marital status, household size, household income and propensity to be online to bring them in line with their actual proportions in the population.

About Northwestern Mutual

Northwestern Mutual has been helping people and businesses achieve financial security for more than 165 years. Through a comprehensive planning approach, Northwestern Mutual combines the expertise of its financial professionals with a personalized digital experience and industry-leading products to help its clients plan for what's most important. With more than $780 billion of total assets1 managed across the company's institutional portfolio as well as retail investment client portfolios, more than $40 billion in revenues, and $2.5 trillion worth of life insurance protection in force, Northwestern Mutual delivers financial security to more than five million people with life insurance, disability income insurance, long-term care insurance, annuities, and brokerage and advisory services. Northwestern Mutual ranked 109 on the 2025 FORTUNE 500 and was recognized by FORTUNE® as one of the "World's Most Admired" life insurance companies in 2026.

Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company (NM), Milwaukee, WI (life and disability insurance, annuities, and life insurance with long-term care benefits) and its subsidiaries. Subsidiaries include Northwestern Mutual Investment Services, LLC (NMIS) (investment brokerage services), broker-dealer, registered investment adviser, member FINRA and SIPC; the Northwestern Mutual Wealth Management Company® (NMWMC) (investment advisory and services), federal savings bank; and Northwestern Long Term Care Insurance Company (NLTC) (long-term care insurance). Not all Northwestern Mutual representatives are advisors. Only those representatives with "Advisor" in their title or who otherwise disclose their status as an advisor of NMWMC are credentialed as NMWMC representatives to provide investment advisory services.

1 Includes investments and separate account assets of Northwestern Mutual as well as retail investment assets held or managed for clients.