Americans Expect to Achieve Financial Independence at Age 37; Marylanders Expect It Will Take Slightly Longer

61% of Maryland residents say achieving financial independence is harder today than for previous generations, according to 2026 Northwestern Mutual Planning & Progress Study

BALTIMORE, June 12, 2026 – As the country approaches its 250th anniversary of independence, the climb to financial freedom is feeling steeper than ever before for those across the state of Maryland. While the average American expects to achieve financial independence by age 37, residents of Maryland anticipate reaching financial independence on a similar timeline, reaching financial independence at the age of 38.

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

According to the latest findings from Northwestern Mutual’s 2026 Planning & Progress Study, Maryland residents are more likely than the national average to report challenges achieving financial independence. Currently, 38% of Maryland residents do not consider themselves financially independent, compared to 28% nationally.

“Financial independence is a deeply personal goal, and while many Marylanders are tracking close to the national timeline, the reality is that the path is becoming more complex,” said Ariel Rodriguez Mercado, financial advisor with Taíno Wealth Management a part of Northwestern Mutual. “In this region especially, higher living costs, student debt, and competing financial priorities are causing people to rethink what financial independence looks like—and how long it may take to get there.”

A Steeper Climb for Marylanders

The study reveals a significant confidence gap among those who are not yet financially independent. In Maryland, 61% of residents say it is harder to achieve financial independence today than it was for previous generations, outpacing the national average of 56%.

Furthermore, among Maryland residents who are not currently financially independent:

·Confidence is high: More than half of Marylanders (63%) are confident they will become financially independent someday, compared to 56% nationally.

·Giving up hope: 37% of Maryland residents expect they will never become financially independent, compared to 20% of all U.S. adults.

“What stands out in this data is the tension between determination and doubt,” Mercado added. “Even though many Marylanders still believe they can achieve financial independence, a growing number feel it’s harder than ever. That’s where having a clear plan, staying disciplined, and working with a trusted advisor can make a meaningful difference in turning that uncertainty into progress.”

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, marital status, household size, household income, and propensity to be online 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 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.