Americans Expect to Achieve Financial Independence by 37, Tampa Expects it Will Take Until 42

As the country approaches its 250th anniversary of independence, the climb to financial freedom is feeling steeper than ever before for those across the Tampa area. While the average American expects to achieve financial independence by age 37, residents in Tampa anticipate reaching financial independence nearly five years later – with the average expected age approaching 42.

Notably, one in four adults in Tampa believes they will never achieve financial independence.

According to the latest findings from Northwestern Mutual’s 2026 Planning & Progress Study, Tampa residents are more likely than the national average to lack financial independence. Currently, 33% of Tampa residents do not consider themselves financially independent, compared to 28% nationally.

“Financial independence isn’t a one-size-fits-all milestone—it looks very different depending on your income, goals, and stage of life,” said David Hood, partner and wealth management advisor with Artistry Wealth Management a Northwestern Mutual Private Client Group. “What we’re seeing in Tampa is that rising costs and competing priorities are stretching timelines, even for high earners, making it more important than ever to have a personalized plan that adapts as life evolves.”

A Steeper Climb in Tampa

The study reveals growing concern about the path to financial independence. In Tampa, 62% of residents say it is harder to achieve financial independence today than it was for previous generations, outpacing the national average of 56%.

Furthermore:

·Confidence is lagging: Just 44% of Tampa residents who are not yet financially independent are confident they will achieve it someday, versus 56% nationally.

·Giving up hope: Among all Tampa residents, 25% expect they will never become financially independent, compared to 20% of U.S. adults.

“Whether I’m working with young professionals just getting started or high-net-worth clients refining a legacy strategy, the common thread is that confidence comes from clarity. In a market like Tampa, where more people feel the odds are stacked against them, proactive planning, disciplined investing, and ongoing guidance can help turn uncertainty into a more achievable path forward,” said Hood.