Americans are worried about money. Not in the abstract, "the economy is a bit wobbly" sense, but in the "can I actually afford my life and will Social Security still be there" sense. And according to a new survey from the Certified Financial Planner Board of Standards, those worries are showing up loud and clear in conversations with financial advisors.

The CFP Board said in a press release on Wednesday that 78% of CFP professionals indicated clients are concerned about Social Security's long-term viability, while 73% reported similar concerns about Medicare. Meanwhile, 69% said clients had become more concerned about affordability over the past 12 months.

Where the Real Pressure Lives

Healthcare costs and retirement plans were each cited by 88% of CFP professionals as important concerns in client conversations, while tax policies were cited by 84%, as per the survey. About 61% of CFP professionals said clients worry affordability challenges could put at least one financial goal out of reach.

None of this is happening in a vacuum. Recent data showed August inflation at 3.4%, while gasoline prices were around $4.44 a gallon and 30-year mortgage rates were near 7%. For households planning around retirement income, recent estimates have put the 2027 Social Security cost-of-living adjustment in the mid-3% range, with September inflation data still needed before the increase is finalized.

Midterms? Clients Are Barely Noticing

Here's the interesting part. The CFP Board survey found that 71% of CFP professionals said clients had taken no financial action in anticipation of the November 2026 midterm election results. Only 29% said clients had taken financial action ahead of the elections.

By comparison, three-quarters of CFP professionals said clients had already acted or considered acting because of rising costs.

"Clients are far more likely to adjust their finances in response to affordability pressures than an election outcome, and that gap shows where the real pressure lies," said Kevin Roth, Ph.D., Managing Director of Research at CFP Board.

Hard Choices, Bigger Consequences

Half of advisors said they had seen clients make potentially risky financial moves because of affordability pressures. Among those actions, 29% involved early withdrawals from retirement accounts and 20% involved reducing or eliminating retirement contributions.

"The rising cost of living is forcing people to make hard choices with their money," said CFP Board CEO K. Dane Snowden. "Some of these choices solve an immediate challenge but create a bigger one later."

The survey was conducted among 440 CFP professionals nationwide in July 2026.

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