Market decline

Inflation and market decline are causing people to rethink their retirement, Quicken survey finds

Gas prices, recession fears and interest rates urge caution on job changes

MENLO PARK, Calif., July 20, 2022 /PRNewswire/ — Quicken inc.maker of America’s top-selling personal finance software, today shared survey results indicating that current economic conditions are causing Americans to rethink changes to their work situation, including delaying their retirement plans. retirement.

Survey responses show that nearly half (48%) of those planning to retire in 2022 are reconsidering or have put that plan on hold. Another 25% of 58-74 year olds who were not planning to retire in 2022 are now considering delaying their retirement even further.

Among those considering delaying or not retiring, the changing economic climate is a priority: 65% cited inflation driving up costs; 45% pointed to the decline in the stock market and 30% cited rising interest rates, all leading to the need to work longer; additionally, 12% said their partner’s job or earnings had been negatively affected and they needed to help fill the gap.

“Until the end of 2021, we were in an unusual environment with lots of jobs, a buoyant stock market and subdued inflation. In 2022 it’s a different story,” said Eric Dunn, CEO of Quicken. “Given the current economic climate, it is more important than ever to have a financial plan and manage your expenses wisely.”

Half of those who had planned to change jobs this year are also reconsidering or putting those plans on hold. When asked what made employees reluctant to change jobs in the past six months, 40% said gas prices, 30% mentioned the potential for a recession, 12% cited the rising interest rates for home ownership and 9% said rising interest rates for student loans.

Whether or not they decide to change jobs, people often experience some level of anxiety about the choice. Those who changed jobs recently said they were happier than those who didn’t (40% vs. 25%), but nearly a third (30%) on both sides still felt ‘frustrated’ with their professional situation. And those who changed also felt a higher sense of regret (15% vs. 7%) and guilt (12% vs. 6%) than those who didn’t.


Recent job change

No recent job changes








30 %

30 %






seven %




There is, however, a silver lining for employees who have been unhappy at work but have not changed due to the high value of their stock options. A quarter of employees with stock or stock options say the stock market decline has actually made it easier for them to consider a job change, with some having already done so.

You can read additional survey results at The Quicken Blog.

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About Quicken Inc.

Quicken is America’s #1 Selling Personal Finance Software For over 35 years, more than 20 million customers have relied on Quicken to help them take control of their finances. Quicken’s award-winning suite of personal finance software and apps – including Quicken Starter Edition, Quicken Deluxe, Quicken Premier, Quicken Home & Business, and Simplifi by Quicken – caters to different financial needs and device preferences. Quicken’s Simplifi, Named “Best Budgeting App” by The New York Times wire cutterwas added to the Quicken suite of products in 2020. Simplifi, a web and mobile app, is designed to help a new generation of digital natives easily master their finances.

Learn more about Quicken here and follow us on Facebook, Twitter, LinkedIn, Youtubeand Reddit. Click on here to learn more about Simplifi by Quicken, and follow us on instagram, Facebookand ICT Tac. Simplifi is available for download at google play and the Apple App store.

Methodology: This SurveyMonkey online survey was conducted in June 2022. The survey focused on a sample of 1,000 American adults, aged 18 to 74, from the consumer network Cint.

SOURCE Accelerate