New MassMutual Research Reveals Most Americans Want Financial Guidance but Aren’t Getting It

2026 MassMutual Financial Habits Report finds that conflicting online information, myths about advisor minimums, and financial anxiety are leaving Americans underserved

SPRINGFIELD, Mass.--(BUSINESS WIRE)--MassMutual released its 2026 Financial Habits Report today. Nearly two-thirds of Americans avoid important financial decisions due to anxiety or overwhelm. Yet 8 in 10 agree that working with a financial advisor would help. The report surveyed 1,500 nationally representative Americans aged 25 and older. It examines how people make and avoid financial decisions amid information overload.

The report paints a clear picture: Americans want financial guidance but aren't getting it.

• A persistent myth drives this gap. Eighty-three percent of Americans believe advisors require a minimum amount of investable assets. More than half put that threshold at $50,000 or more. Vaughn Bowman, CFA, head of wealth management, MassMutual, refutes this: “You do not need a minimum balance to deserve a plan. Many people have an ‘all or nothing; mindset, when in fact, some level of professional guidance is oftentimes better than none at all. Breaking up the planning process into digestible, specific steps can help small accomplishments lead to a sense of satisfaction — and a desire to keep going and do more.”
• Sixty-two percent of Americans say they at least sometimes avoid important financial decisions due to anxiety or overwhelm. While 82 percent agree it is helpful to work with a financial advisor and 81 percent say today's complexity makes expert advice even more valuable, only 34 percent have actually sought advice from a traditional financial advisor or planner in the past year. “People are researching, asking questions, and trying to make sense of a complicated landscape,” says Bowman. “The opportunity — and the responsibility — is for financial professionals to meet them where they are and show them what a real plan looks like.”
• Meanwhile, 74 percent of Americans say there is too much conflicting financial advice online. More than one-third have made at least one important financial decision influenced by social media content, 36 percent of whom later regretted it. “The assumption is that with more financial information at our fingertips than ever before, making smart financial decisions should be easier,” says Bowman. “In reality, the opposite is often true. The sheer volume of information—and the conflicting advice people encounter—can leave people feeling overwhelmed and unsure of where to turn.”

The data also reveals meaningful gaps in preparedness. More than half of Americans say they are behind on planning financially to protect against life's uncertainties. Only 34 percent feel prepared to manage a sudden inheritance or financial windfall, and 37 percent say nobody knows the details of their finances.

“Our research shows that the demand for credible, expert financial guidance has never been higher, and it's on all of us in the industry to help people cut through the noise and make informed decisions with confidence,” concludes Bowman.

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About MassMutual (Massachusetts Mutual Life Insurance Company)

For 175 years, MassMutual has stood beside generations through life’s defining moments, guided by a clear, enduring purpose: We help people secure their future and protect the ones they love. What began in 1851 as a bold idea rooted in neighbors helping neighbors has grown into one of America’s largest mutual life insurance companies, serving more than four million customers¹ with over $1 trillion in life insurance in force¹ and $584 billion in assets under management, ² all built on a foundation of more than $34 billion in capital strength. ³

MassMutual offers a broad range of products and services across protection, accumulation, wealth management, and retirement income, including annuities through our leading annuity provider, MassMutual Ascend. These solutions reach people through our expansive distribution, which is anchored by our dedicated network of affiliated financial professionals. For nearly two centuries, our offerings have helped people build, protect, and pass on what means the most to them. Through eras of extraordinary change, we have honored our commitments, paying upwards of $70 billion in insurance and annuity benefits over the past decade. ⁴

MassMutual is strengthened by a diversified portfolio of strategic businesses and investments – including Barings, our global alternative asset management subsidiary – which enables us to deliver greater long-term value to our policyowners. MassMutual has a longstanding, successful approach to bringing together deep life insurance expertise and advanced asset management capabilities, which put us at the forefront of this trend and helped pioneer growth beyond traditional industry boundaries. Through Barings, we have robust asset origination capabilities that have helped us achieve exceptional long-term performance for our policyowners.

Through it all, our scale provides strength; our mutuality provides alignment; and our purpose ensures we do not lose sight of who we serve. To learn more, visit massmutual.com.

^1 As of December 31, 2025

^2 Assets Under Management (AUM) include assets and certain external investment funds managed by MassMutual subsidiaries, including Barings and MassMutual Ascend, as of December 31, 2025

^3 Capital strength refers to the company’s Total Adjusted Capital, as of December 31, 2025, as reported in statutory filings. Please refer to MassMutual’s Annual Report, https://www.massmutual.com/global/media/shared/doc/financial-documents/annual-reports/2025_annual_report.pdf

^42016-2025