As economic uncertainty continues to influence financial decision-making, San Diego residents are demonstrating a heightened sense of caution. According to Northwestern Mutual's 2026 Planning & Progress Study, 59% of San Diego adults say uncertainty brings them anxiety, above the national average of 50% and among the highest levels reported by the markets surveyed.
These are among the local findings from Northwestern Mutual's 2026 Planning & Progress Study, the company's proprietary research series that explores Americans' attitudes, behaviors and beliefs toward money, financial decision-making and the broader issues impacting long-term financial security.
San Diego residents report elevated anxiety and growing caution
San Diego ranks among the most anxious markets surveyed. Nearly six in 10 adults (59%) say uncertainty brings them anxiety, compared with 50% nationally. At the same time, 30% say uncertainty brings frustration, compared with 25% nationally.
The emotional response to uncertainty is reflected in financial behavior. Half (50%) of San Diego adults say they have become more risk-averse over the past 12 months, compared with 43% nationally. Looking over a longer horizon, 48% say they have become more risk-averse during the past three years, compared with 41% nationally.
"When uncertainty persists, it's natural for people to become more cautious with their financial decisions," said David Miller, La Jolla-based wealth management advisor with Northwestern Mutual. "But uncertainty doesn't have to lead to inaction. Having a financial plan can help people focus on the factors they can control, make informed decisions and move forward with greater confidence, regardless of what the markets or headlines may bring."
San Diego residents balance caution with a willingness to pursue opportunity
San Diego adults continue to approach investing carefully. Nearly three-quarters (71%) say they are more comfortable reducing risk to protect the safety and stability of their savings and investments, while 29% say they prefer taking calculated risks in pursuit of higher returns.
When it comes to new investment trends, San Diego residents generally favor a measured approach. Thirty-seven percent identify as "cautious strategists" who explore new opportunities through research and planning, while 22% prefer to avoid new investment trends altogether and 16% say they do not invest. Only 8% describe themselves as "first movers" willing to enter emerging investments early.
San Diego residents also show a greater willingness to embrace career change than many other markets. Four in 10 (40%) say they would take the risk of making a career change if they believed it offered greater potential for success or happiness, compared with 33% nationally. Meanwhile, 60% prefer the stability of staying with one employer, below the national average of 67%.
"One of the most encouraging findings in the San Diego data is that people aren't simply retreating from risk altogether," Miller said. "Many are taking a thoughtful, strategic approach by carefully evaluating opportunities before acting. The most effective long-term plans help create balance, providing the stability people need today while allowing them to pursue future goals and growth with purpose."
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 aged 18 or older. The survey was conducted online between January 5 and January 21, 2026. Data are weighted where necessary by age, gender, race/ethnicity, region, education, and household income to bring them in line with their actual proportions in the population. A complete survey methodology is available.
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 2026 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.
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