A large majority (90%) in Des Moines say they have experienced elevated grocery costs in the last three months. Two out of three (67%) experienced elevated utility costs, while 63% experienced elevated gas costs, 56% experienced elevated housing expenses and 2% experienced elevated childcare expenses.   

Not surprisingly, just three in 10 (30%) Des Moines adults indicate they feel financially secure. Meanwhile, 41% say they do not feel financially secure, far worse than the national average of 30%. And only 39% of adults consider themselves to be “disciplined planners,” well below the national average of 49%. 

"Given the current economic climate and inflation continuing to rise, it's unsurprising that many Des Moines residents feel homeownership is out of reach,” said Kurt R Bogseth, who is CEO and a wealth management advisor of Northwestern Mutual’s Echelon Wealth Strategies. “With increasing inflation rates outpacing household incomes, many non-homeowners think saving enough for a down payment or managing mortgage payments is increasingly difficult. The question is, what can be done? That is a personal decision. There is no better time than right now for people to take control of their money habits and financial plans.” 

Credit cards are top source of debt 

Across all Des Moines residents surveyed, the primary source of non-mortgage debt by far is credit cards, accounting for twice the #2 source (car loans) and three times the #3 source (medical debt).  The study also found that 69% of adults in Des Moines say they prioritize paying down debt versus 31% who prioritize saving.  

Among those in Des Moines who carry personal debt, 43% owe between $5,001 and $25,000, exclusive of mortgages.  

Home ownership feels out of reach for many   

Among Des Moines residents who are not currently homeowners, 41% say that owning a home will never be financially affordable – now or in the future.   

About half of Des Moines adults (49%) believe the American Dream is alive and well, and 41% believe it is attainable for most Americans. People are more optimistic about their personal situations, with 60% considering the American Dream attainable for themselves.   

But there is some evidence the vision of the American Dream is shifting. While more than two in three (69%) say that home ownership is essential for building wealth, more than seven in 10 (71%) believe it is possible to achieve financial security without owning a home.  

"Residents of Des Moines are reimagining what it means to achieve the American Dream, discovering new avenues to financial success," said Bogseth. "For many, investing in the stock market or other financial instruments is becoming more appealing than homeownership. It's essential to recognize that there are multiple paths to financial security. Regardless of where you are on your financial journey or your amount of wealth, individuals who have goals and objectives, are coachable and open to guidance and are willing to move forward and say yes are great candidates for successful consultations with a financial advisor to help create a plan to reach personalized goals." 

About The 2025 Northwestern Mutual Planning & Progress Study

The 2025 Planning & Progress Study was conducted by The Harris Poll on behalf of Northwestern Mutual among 4,626 U.S. adults aged 18 or older. The survey was conducted online between January 2 and January 19, 2025. Data are weighted where necessary by age, gender, race/ethnicity, region, education, marital status, household size, household income, and propensity to be online to bring them in line with their actual proportions in the population. A complete survey methodology is available.

About Northwestern Mutual

Northwestern Mutual has been helping people and businesses achieve financial security for more than 165 years. Through a comprehensive planning approach, Northwestern Mutual combines the expertise of its financial professionals with a personalized digital experience and industry-leading products to help its clients plan for what's most important. With nearly $700 billion of total assetsi being managed across the company’s institutional portfolio as well as retail investment client portfolios, more than $38 billion in revenues, and $2.4 trillion worth of life insurance protection in force, Northwestern Mutual delivers financial security to more than five million people with life, disability income and long-term care insurance, annuities, and brokerage and advisory services. Northwestern Mutual ranked 110 on the 2024 FORTUNE 500 and was recognized by FORTUNE® as one of the "World's Most Admired" life insurance companies in 2025. 

Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company (NM), Milwaukee, WI (life and disability insurance, annuities, and life insurance with long-term care benefits) and its subsidiaries. Subsidiaries include Northwestern Mutual Investment Services, LLC (NMIS) (investment brokerage services), broker-dealer, registered investment adviser, member FINRA and SIPC; the Northwestern Mutual Wealth Management Company® (NMWMC) (investment advisory and services), federal savings bank; and Northwestern Long Term Care Insurance Company (NLTC) (long-term care insurance). Not all Northwestern Mutual representatives are advisors. Only those representatives with "Advisor" in their title or who otherwise disclose their status as an advisor of NMWMC are credentialed as NMWMC representatives to provide investment advisory services. 

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1 Includes investments and separate account assets of Northwestern Mutual as well as retail investment client assets held or managed by Northwestern Mutual.