Younger Investors Turn to High-Risk Assets to Catch Up on Long-Term Savings
Three-quarters of Northwestern Mutual survey respondents, most from Generation Z, view high-risk assets like sports betting and crypto as a way to close financial gaps.
Savers from younger generations are increasingly experimenting with heretofore unconventional investment avenues as they try to make up ground on long-term savings goals.
Nearly 40% of adult respondents reported investing or considering investing in such high-risk assets as prediction markets, sports betting and cryptocurrencies, according to Northwestern Mutual’s “2026 Planning & Progress Study,” published Monday.
The largest share of respondents expressing interest in such assets in the past year came from Generation Z and Millennials. For example, when it came to cryptocurrency, specifically, 32% of Gen Z respondents and 35% of Millennial respondents said they were currently invested in cryptocurrency or considering investing in the field in 2026, compared with 20% of Generation X respondents and 8% of Baby Boomers.
Why Take the Risk
For many respondents, the move toward riskier strategies comes from a sense of falling behind on long-term financial goals. Among respondents, 73% said they are considering high-risk assets because they feel financially behind and believe those investments may accelerate progress toward their financial goals—a sentiment selected by 80% of Gen Z respondents.
“When people feel behind, they often look for shortcuts,” said John Roberts, Northwestern Mutual’s chief field officer, in a statement. “But building financial security is rarely about cutting corners. It’s about consistency, discipline, and protection. A comprehensive plan helps people grow confidently without taking unnecessary risks.”
However, the survey found that financial confidence is steady. Overall, 50% of respondents said they feel financially secure, an increase from 44% last year.
The largest year-over-year gains in financial confidence were most noticeable among Millennials and Gen Xers: When compared with 2025 responses, 53% of Millennials felt financially secure, compared with 43% in 2025, and 48% of Gen X respondents felt secure, up from 40% in 2025.
Americans Want to Grow Assets
More than half (52%) of respondents said too much emphasis is placed on building wealth or growing their assets, without dedicating enough to protecting their assets and managing against risks. Among respondents utilizing a financial adviser, 71% said they feel financially secure, while 10% said they did not.
Additionally, financial discipline among adults showed improvement, with the number of Americans who consider themselves ‘disciplined’ financial planners increasing to 53%, up from 49% in 2025.
“The best way to move from financial anxiety to confidence is by taking control, practicing good habits, and making sound decisions,” Roberts said in the statement. “There’s also nothing quite like the confidence that comes from a trusted professional telling you that you’re making wise financial choices. Having a trusted adviser isn’t just about the returns; it’s about reassurance.”
The “2026 Planning & Progress Study” from Northwestern Mutual included 4,375 online interviews among the general U.S. adult population from January 5 through January 21.