Milwaukeeans turning to cryptocurrency, high-risk financial options as residents experience elevated costs

More than half of adults in Milwaukee have become more risk-averse with their finances over the past year due to uncertainties with markets, the economy, jobs and more. This is well above the national average, in which only 44% of adults in the United States have reacted similarly with their finances.

Despite that increased aversion to risk for many Milwaukeeans, investing in high-risk/speculative assets is fairly prominent in the area – with cryptocurrencies leading the way. Northwestern Mutual’s newly released 2026 Planning & Progress Study also revealed:

·17% of those in Milwaukee said they are currently investing in – or considering investing in – crypto over the next 12 months. This is lower than the national average (24%) and ranks only behind San Francisco and Dallas in terms of markets in the study with the highest percentage of those who are taking a similar financial approach with cryptocurrency.

·Additionally, 11% of those surveyed in Milwaukee are – or will be – partaking in sports betting / prediction markets as part of their finances, along with 10% investing in options and 6% in meme stocks.

Among those in Milwaukee who are going in the direction of high-risk/speculative assets, 78% say that they are doing so because they feel financially behind and believe these investments will help them reach their financial goals more effectively than traditional methods.

“The Planning & Progress data confirms what we see with clients: many people aren’t keeping pace financially and feel they must turn to speculative assets to catch up,” said Matt Grube, managing director and financial advisor with Northwestern Mutual – Downtown Milwaukee. “I always emphasize that there are several ways to reach your financial goals, and it starts with having a financial advisor who can tailor guidance to your unique situation."

Open to taking job risk for potential upside

Milwaukeeans are willing to take a risk in employment if they believe it has a higher potential for success/happiness. In all, 28% of Milwaukee respondents shared they would change employers or start a business for that potential upside, which is lower than the 33% national average. Throughout the country, more than two-thirds of Americans prefer the consistency and stability of staying with one employer rather than taking the risk of moving around.

When faced with uncertainty or the unknown, Milwaukeeans react with anxiety more than the rest of the country (56% compared to 50%). The majority of respondents in the study across the United States shared that they react to those situations with caution (54% overall).

Milwaukeeans are also feeling the pinch far more than the national average in many key financial areas. Over the past three months, this is the percentage of those in Milwaukee who shared that they personally experienced elevated costs for these essentials.

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.