Tue, 06 October 2020 | consumers pandemic
According to Fidelity Investments®’ Moving Forward study, anxiety has been on the rise since social distancing first began and the market was sent into a tailspin in March—and that anxiety is expected to continue into the new year. Looking ahead to 2021, nearly 70% do not see stress relief happening—and perhaps as a result, 58% say they are financially preparing differently for the new year. Despite an unprecedented level of uncertainty, the study also reveals that in dealing with the crisis, Americans are expressing confidence in their abilities to take on the challenges ahead.
The Fidelity study, which examines how Americans are handling major life events during the pandemic and subsequent economic downturn, found that living in a pandemic environment for nearly half a year has increased individual stress levels.
Even in troubling times, there are some encouraging findings. A large majority (80%) of respondents feel the pandemic has taught them they can handle more than they realized. In addition, 77% say the experience has put life’s challenges into a different perspective; two-thirds indicate the experience has renewed and strengthened connections with friends and family. And, when thinking about challenging events, many discovered something unexpectedly good came out of the experience.