Approach to financial planning by Americans during COVID-19 in 2020

Published by Statista Research Department, May 31, 2022
In 2020, the COVID-19 pandemic made Americans focus more on their financial planning. More than 30 percent said they revisited their financial plan, but didn't change it, while 20 percent stated that they made significant adjustments to their financial plans in response to the pandemic. The percentage of Americans who did the latter varied by generation with Millennials leading the way in making adjustments.

Approach to financial planning during the COVID-19 pandemic in the United States in 2020

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Sources

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Release date

June 2020

Region

United States

Survey time period

April 29, 2020 to May 1, 2020

Number of respondents

2,077 respondents

Age group

18 years and older

Special properties

Gen Z (n=274), Millennials (n=619), Gen X (n=511), and Boomers (n=581)

Method of interview

Online survey

Supplementary notes

This question was phrased by the source as follows: "How has the market volatility and economic downturn prompted by the COVID-19 pandemic impacted your approach to financial planning?"

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