hero pessimistic about the economy

Feeling pessimistic about the economy? It’s not just you

With global tensions and ongoing volatility, more Americans are worried about a big market crash or major recession than at any time in the last year.

If outside factors are making you anxious about your finances and future goals, you are in the majority.

Fewer people are optimistic about the economy improving right now, according to the latest Quarterly Market Perceptions Study1 from Allianz Life Insurance Company of North America (Allianz Life). Less than half (47%) of the respondents said they think the economy will improve in the next year. This is down from 54% in 4Q 2021 and 66% in 4Q of 2020.

More than four in 10 (43%) said that they are too nervous to invest in the stock market right now. That’s the highest level of worry since 2019.

And when you consider all that’s happened in the past several years, this level of worry is understandable, with some major things outside of any individual’s control contributing to this pessimism.

With no end in sight to the extreme volatility over the past few years, the overwhelming majority of respondents (81%) said that they expect continued volatility this year. At the same time, 79% of respondents are worried that current world tensions will spark another recession. These factors (and likely others) led more people than at any time in the last year (56%) to say they worry about another big market crash.

That anxiety extends beyond present considerations to long-term financial plans. Anxiety about the risks of volatility to retirement savings is higher than it has been in a year at 40% of respondents.

Here’s how others are thinking about protecting their retirement savings from market risks.


said given recent market volatility, they wish they had more of their retirement savings protected from market loss


said they are looking to add more protection to their portfolio after the recent market correction


said they wish they could have locked in their gains during recent market highs

A financial professional could help you identify some strategies that could help protect retirement savings from market loss during recent market highs. This could include options like assessing your risk exposure, diversifying your portfolio, or exploring a financial product that can offer a level of protection from market volatility, like an annuity. Keep in mind diversification does not ensure a profit or protect against loss. Knowing that you have thought ahead about your exposure to risk can help reduce the anxiety of unknown outside market factors.

1 Allianz Life conducted an online survey, the 2022 1Q Quarterly Market Perceptions Study, in March 2022 with a nationally representative sample of 1,002 respondents age 18+.

Annuities can help you meet your long-term retirement goals by offering tax-deferred growth potential, a death benefit during the accumulation phase, and a guaranteed stream of income at retirement.

You should carefully consider the features, benefits, limitations, risks, and fees that may be associated with an annuity. Ask your financial professional if an annuity is appropriate for you based on your financial situation and objectives.

Allianz Life Insurance Company of North America does not provide financial planning services.

Any distributions are subject to ordinary income tax and, if taken prior to age 59½, a 10% federal additional tax.

Guarantees are backed by the financial strength and claims-paying ability of Allianz Life Insurance Company of North America.

Products are issued by Allianz Life Insurance Company of North America.