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Financial Concerns Wrapped Inflation is Top Consumer Concern in 2022, According to New Research From Lincoln Financial Group

Bad Bunny might have topped the most-streamed artist list in 2022, but when it comes to what financial concerns top the charts consumers are singing the blues on inflation, according to new research from Lincoln Financial Group (NYSE: LNC).

While recession fears are widespread, inflation has been the top concern in rotation for all of 2022, finishing the year with 71% of Americans saying they’re concerned about it, up from 64% in the first quarter. Having enough income in retirement maintained the number two spot, and the level of worry increased from 52% in the first quarter to 59% in the fourth quarter.

Beyond the concerns they have, Americans across all age groups are seeing the importance of protection — 82% say they would like to invest their money in a solution that protects them during times of market volatility, even if it means fewer gains when the market is performing well. And, 82% agree that due to rising costs elsewhere in their budgets, it is more important for them to have protection against expenses or lost income in case of an unexpected event.

“It’s been another challenging year, as Americans are grappling with many things beyond their control — inflation, the performance of the market and the economic climate overall,” said Elena French, Senior Vice President, Corporate Marketing, Lincoln Financial. “We conduct this research to ensure we understand exactly what challenges consumers are facing, and it shows that the protection and solutions Lincoln Financial can provide are more important than ever.”

Top financial concerns

Consumer concerns, 1Q and 4Q 2022 – total concern is those who answered 4 or 5 on a scale where 1 = not at all concerned and 5 = very concerned.

 

Consumer concerns

Q1 2022

Q4 2022

1.

Inflation

64%

71%

2.

Having enough income in retirement

52%

59%

3.

Supporting myself or my family if I lose my job

45%

55%

4.

Supporting myself or my family if I become disabled

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Financial Concerns Wrapped Inflation is Top Consumer Concern in 2022, According to New Research From Lincoln Financial Group Bad Bunny might have topped the most-streamed artist list in 2022, but when it comes to what financial concerns top the charts consumers are singing the blues on inflation, according to new research from Lincoln Financial Group (NYSE: LNC). While …

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