Portland Is the Most Anxious Major U.S. Market Surveyed When Facing Uncertainty

PORTLAND, Oregon, September 28, 2026 – When it comes to facing the unknown, Portland adults are more anxious than residents of any other surveyed major U.S. market. Sixty-one percent of Portland residents say uncertainty brings them anxiety – the highest rate of any market surveyed and well 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.

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Portland reports the highest anxiety rate among surveyed markets

Portland's anxiety rate outpaces every other market in the study, including San Francisco (55%) and Indianapolis (60%). The city's emotional response to uncertainty is marked not only by anxiety but by fear and frustration as well: 33% of Portland adults say uncertainty brings them fear and 30% say it brings frustration, both above the national averages of 27% and 25%, respectively.

By contrast, just 20% of Portland adults say uncertainty brings them excitement, only modestly above the national rate of 18% and far below the levels seen in Los Angeles (27%) or California (25%).

"It's understandable that so many people feel anxious when headlines seem to change by the day and uncertainty touches nearly every aspect of life," said Kara Smith, a wealth management advisor with Northwestern Mutual based in Bend, Ore. "The good news is that having a financial plan can help bring clarity and confidence to situations that may feel outside of your control. When people understand where they stand financially and have a strategy for the future, they're often better positioned to focus on what matters most rather than worrying about what might happen next."

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

Portland's emotional unease is reflected in its financial behavior. Over the past 12 months, 51% of Portland adults say they have become more risk-averse – above the national average of 43% and among the highest of any market surveyed. Over the past three years, 48% say they have grown more cautious, compared with 41% nationally.

Portland adults are also less likely to embrace new investment trends. Just 6% describe themselves as first movers, below the national rate of 8%, while 23% say they generally avoid new investment trends and stick with what they know, compared with 20% nationally. Twenty-three percent say they don't invest at all, compared with 18% nationally.

That caution extends to careers: 70% of Portland adults say they prefer the consistency and stability of staying with one employer rather than taking the risk of moving around, above the national figure of 67%. Just 30% say they would risk a career change for greater potential, below the 33% national average.

"There's a common misconception that financial stability and financial growth are opposing goals," said Smith. "In reality, the strongest financial plans are often built to support both. Being thoughtful about risk doesn't mean avoiding opportunity altogether. It means understanding your goals, evaluating your options, and making informed decisions that align with your long-term vision. A balanced plan can help people feel secure today while still making progress toward tomorrow."

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