Are concerns about whether there will be a recession are arising among three quarters of non-retired investors affecting the approach some take to retirement saving and investing? A new study suggests that they are.
In fact, the Nationwide Retirement Institute study found that more than three quarters (77%) of non-retired investors are concerned about a U.S. recession over the next 12 months. However, it also shows a shift from caution to action, as 1 in 3 (33%) non-retired investors say they will change their retirement savings approach over the next 12 months by planning to take advantage of investment opportunities. This percentage is up from 21% in the summer of 2024.
Additionally, nearly the same percentage (32%) of non-retired investors say they plan to contribute more to their 401(k) or employer-sponsored defined contribution (DC) plan each month, while a quarter of respondents (22%) say they plan to manage their investments more aggressively, up from 16% in 2024.
Nationwide’s data also indicates an emerging sense of stabilization in retirement planning, even as concerns remain elevated. Just 15% of non-retired investors say they plan to retire later than planned, down from a peak of 22% in 2024. The number of investors who don’t know if they will ever be able to retire is down (11%) from a high of 16% in 2024.

“Investment markets reached all-time highs this summer in the face of elevated volatility, reflecting a shift in how investors are interpreting uncertainty. Rather than viewing volatility as a signal to step aside, many may be viewing it as an opportunity to be offensive versus the historic instinct to turn defensive,” explained Mark Hackett, chief market strategist for Nationwide’s Investment Management Group. “We’re seeing them use these periods of volatility to rebalance, diversify and position themselves for future growth, recognizing that participation, not timing, is often the key driver of long-term outcomes.”

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