CFP Professionals Warn of Rising Concerns About Social Security and Medicare Viability
News related to:CFP Board · 2 min read
WASHINGTON, Sept. 23, 2026 /CourierPR/ -- CFP® professionals report that the long-term viability of safety nets Americans have paid into for decades, such as Social Security and Medicare, is among the top concerns discussed with clients over the past 12 months.
Seventy-eight percent of CFP® professionals report that clients are concerned about Social Security’s long-term viability, with 73% expressing similar unease about Medicare. Meanwhile, 50% of advisors say affordability pressures are driving some clients to make potentially shortsighted decisions that could put their retirement plans at risk. These actions include early withdrawals from retirement accounts (29%), reducing or eliminating retirement contributions (20%), or taking on high-interest debt to cover expenses (18%).
Despite these concerns, optimism holds. While 7 in 10 CFP® professionals (68%) describe their clients' overall financial outlook as positive, 69% report that clients have grown more worried about affordability over the past 12 months. This concern includes both day-to-day expenses (53%) and long-term financial goals (60%). Three in five CFP® professionals (61%) also say clients now worry that affordability challenges could put at least one financial goal out of reach, including purchasing a home (34%), achieving financial independence (27%), and affording healthcare (23%).
Current costs seem to be shaping client behavior far more than the potential impact of midterm elections. Just 29% of CFP® professionals say their clients have taken financial action in anticipation of the November 2026 election results, compared with three-quarters who have acted or considered acting in response to rising costs.
Most CFP® professionals (85%) are making specific recommendations to help clients respond to affordability challenges without abandoning long-term goals. These recommendations include stress-testing financial plans against a recessionary scenario (54%) and building or rebuilding an emergency fund to a defined target (54%). They are also steering clients toward strategic adjustments rather than more drastic moves, such as revising retirement contribution rates (34%) and accelerating debt paydown (33%).
To find a CFP® professional who can help you adapt to near-term financial pressures and stay focused on your long-term goals, visit LetsMakeAPlan.org.