Something that’s likely on your clients’ minds this year: inflation. With the annual reading for 2022 rounding out at 6.5%1, we’re seeing inflation at it’s highest overall since the 1980s. And although inflation appeared to level off in the second half of 2022, it remains high heading into 2023 and your clients may be understandably nervous.
According to data from the American Psychiatric Association’s (APA) Healthy Minds Monthly Poll, which included a question each month from June through December on how anxious Americans felt about a list of trending current events—4 in 5 respondents said inflation made them somewhat or very anxious2. This anxiety about the economy and finances can impact the way people feel about their retirement savings and investments—as a financial professional, it can help to listen to concerns, encourage your clients to stay the course with investments and not make any rash decisions, and let them know that they can always turn to a mental health professional for additional help.