Baltimore Residents Report Above-Average Anxiety When Facing Uncertainty

BALTIMORE, September 21, 2026 – When it comes to facing the unknown, Baltimore adults are more anxious than the national average. Fifty-six percent of Baltimore residents say uncertainty brings them anxiety, above the national figure of 50%.

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.

Baltimore reports above-average anxiety rate among surveyed markets

Baltimore’s anxiety rate exceeds the national average and ranks among the higher rates in the study. The city’s emotional response to uncertainty is marked not only by anxiety but by fear and frustration as well: 32% of Baltimore adults say uncertainty brings them fear and 27% say it brings frustration, both above the national averages of 27% and 25%, respectively.

By contrast, just 16% of Baltimore adults say uncertainty brings them excitement, below the national rate of 18%.

“When more than half of Baltimore adults tell us uncertainty makes them anxious, it tells us people are carrying a real emotional weight around their financial decisions,” said Dae Yoon, wealth management advisor, at Yoon Patel Wealth Partners. “A financial plan won’t make the world less unpredictable, but it gives people something concrete to hold onto. When you know what you’re working toward and you have a plan to get there, anxiety starts to give way to confidence. I also want people to embrace guilt-free spending. When you have a thoughtful plan in place, you can spend money on the things that matter to you without sacrificing your long-term financial goals.”

Baltimore adults report becoming more risk-averse amid uncertainty, a more cautious mindset

Baltimore’s emotional unease is reflected in its financial behavior. Over the past 12 months, 49% of Baltimore adults say they have become more risk-averse, above the national average of 43%. Over the past three years, 49% say they have grown more cautious, compared with 41% nationally and tied for the highest rate of any market surveyed.

Baltimore adults are also less likely to embrace new investment trends. Just 6% describe themselves as first movers, below the national rate of 8%, while 21% say they generally avoid new investment trends and stick with what they know, compared with 20% nationally. Twenty-one percent say they don’t invest at all, compared with 18% nationally.

Career attitudes tell a slightly different story: 65% of Baltimore adults say they prefer the consistency and stability of staying with one employer rather than taking the risk of moving around, below the national figure of 67%. Thirty-four percent say they would risk a career change for greater potential, above the 33% national average.

“What stands out about Baltimore is that people are financially cautious but professionally bold,” said Yoon. “They’re pulling back on investment risk while staying open to career changes that could pay off down the road. That instinct isn’t contradictory. A strong financial plan can do both: protect what you’ve built so you have the freedom to take a calculated chance on your career when the right opportunity comes along.”

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.