Researchfinds nearly two-thirds of people lack strong financial knowledge, while those with better financial skills are three times more confident making decisions

Company Website: http://www.corebridgefinancial.com
HOUSTON -- (Business Wire)

Only 40% of Americans are extremely or very confident in their ability to make and execute financial decisions according to a new Corebridge Financial survey. However, the survey also revealed that those with greater financial skills are more confident decision makers, less financially stressed, and have more saved for retirement.

Financial Knowledge Builds Confidence and Reduces Stress

Nearly two-thirds (62%) of Americans are financial beginners¹, rating their overall financial knowledge as novice or intermediate. Although just 38% consider themselves financially savvy², rating their knowledge as advanced or expert, these individuals are more than three times as likely to feel confident processing financial information to make decisions and executing those decisions compared to beginners (68% vs. 21%).

The financially savvy are also more than twice as likely to have saved $250,000 or more for retirement (38% vs. 15%) and half as likely to feel very or extremely financially stressed (15% vs. 29%) compared to financial beginners.

“Financial literacy is one of the most effective tools people have to improve their financial lives,” said Terri Fiedler, President of Retirement Services at Corebridge Financial. “When people understand their finances, they’re better equipped to take positive steps—whether that’s saving more or planning earlier for retirement. Knowledge builds confidence, and confidence fuels action.”

Top Financial Tutors? FP vs. ChatGPT vs. FYP

For those looking to level up their skills, the survey reveals the key might be proactive lifelong learning.

• 23% of the financial beginners do not use any resources to learn about money.
• 90% of the financially savvy take advantage of at least one tool to sharpen skills.

The financially savvy most often turn to a financial professional (FP) to improve their financial knowledge, with 37% saying they use an FP to learn about money. That’s compared to just 21% of financial beginners.

The presence of an FP helps shape respondents’ priorities and areas of interest. Those currently engaged with an FP are most interested in their guidance on investing (43%) and tax-efficiencies (43%), whereas those without professional support would most value an FP’s guidance on retirement planning (48%) and financial goal setting (45%).

Nearly one-third (31%) of Gen Zers reported that anxiety about money holds them back from being financially capable. Yet, the survey found that instead of turning to the financial and emotional support of an FP, this cohort most often seeks financial education and assistance from emerging technologies.

• 52% of Gen Zers said they learn about money through social media, compared to 27% of the general population.
• 25% of Gen Zers use artificial intelligence.

“People want to make smart financial decisions, and it’s wonderful to see so many eager to tap into multiple sources for guidance,” continued Fiedler. “But it’s essential to use trusted and proven sources that provide credible information and help you overcome inertia, uncertainty, and choice overload. That’s where a financial professional can play such an important role helping translate complexity into clear priorities and next steps.”

The Skills Americans Want Most

Respondents consistently identify three financial skills as most important to financial success: budgeting, managing debt and planning for retirement. Managing debt topped the list of skills respondents want to improve upon (31%) followed closely by planning and saving for retirement (30%).

The survey identified generational skill building differences that closely align with phases of life.

• Gen Z and millennials are focused on strengthening their ability to manage debt.
• Gen X prioritizes upskilling retirement planning.
• Baby boomers overwhelmingly want to know more about long-term care.

Motivation Is High, and Employers Can Help Inspire Action

Encouragingly, 85% of adults are motivated to make positive financial changes in the coming year. Increasing personal savings, reducing debt, and creating a budget are the most common actions people plan to take.

When it comes to getting serious about financial planning, retirement is the top motivator — and employers can play an important role in helping Americans take action to improve their financial skills.

A plurality of adults (27%) are first introduced to the concept of financial planning for retirement through their employer. Not only is the workplace where many begin their retirement savings journey, it is also a key channel for financial learning and support. In fact, if available to them through their workplace, respondents ranked professional guidance and online planning tools as the financial resources they would value most.

During Financial Literacy Month, Corebridge offers its Education Center, providing information and resources on topics from money management to retirement planning.

2026 Financial Capability Survey

For additional findings from the Corebridge 2026 Financial Capability Survey, visit the Corebridge Insights & Education webpage. The survey was conducted online by Morning Consult on behalf of Corebridge Financial between Feb. 3-5, 2026, among a national sample of 2,213 adults.

1. “Financial beginners” refers to those who rated their financial knowledge as novice or intermediate.
2. “Financially savvy” refers to those who rated their financial knowledge as advanced or expert.

This material is general in nature, was developed for educational use only, and is not intended to provide financial, legal, fiduciary, accounting or tax advice, nor is it intended to make any recommendations. Applicable laws and regulations are complex and subject to change. Please consult with your financial professional regarding your situation. For legal, accounting or tax advice consult the appropriate professional.

About Corebridge Financial

Corebridge Financial, Inc. (NYSE: CRBG) makes it possible for more people to take action in their financial lives. With more than $385 billion in assets under management and administration as of December 31, 2025, Corebridge Financial is one of the largest providers of retirement solutions and insurance products in the United States. We proudly partner with financial professionals and institutions to help individuals plan, save for and achieve secure financial futures. For more information, visit corebridgefinancial.com and follow us onLinkedIn.

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Contacts:

Işıl Müderrisoğlu (Investors): investorrelations@corebridgefinancial.com 
Jay Russo (Media): jay.russo@corebridgefinancial.com

Source: Corebridge Financial