Securing guaranteed income for life remains an important concern for a majority of people, although paying bills is now their top concern.

Consumers are now less focused on keeping inflation, taxes and declining markets from eroding retirement savings, according to a survey by AXA Equitable Life Insurance Co.

Reducing taxes and protection from inflation both dropped from second to fifth among people’s financial concerns, and concern about protection from market conditions fell two notches to the eighth spot, according to the survey.

About 69% of Americans polled said security guaranteed income for life was the top concern.

“The fact that people are still concerned about the health of their retirement during the market volatility we are experiencing makes it clear that they still understand the importance of preparing for their financial future,” said Christopher M. “Kip” Condron, chairman and chief executive officer of AXA Equitable, in a statement. “What is alarming, however, is that so many are still not taking the steps needed to achieve those goals.”

The survey also found that women overall are more concerned about today’s economic realities and are reacting more conservatively as a result. While 75% of women polled said that receiving guaranteed income for life is a priority, only 58% of men agree.

Yet, men are more likely than women to act on their concerns, the survey found.

Almost three in 10 men (28%) expect to invest in a new product, compared to just 20% of women. More than six in 10 men (61%) plan to shift the asset mix of their investments, compared to 51% of women.

“Women continue to show more concern than men as the period of economic instability lingers on,” said Barbara Goodstein, executive vice president and chief innovation officer of AXA Equitable. “What is troubling is that it appears that their sense of caution has morphed into an inability to take the prudent steps necessary to navigate through this crisis.”

Exactly 76% of those self-described older affluent people are seeking that retirement security, while just 63% of people considered younger affluent, according to AXA Equitable Life Insurance Co.’s recent survey.

Perhaps explaining in part the results, less than half (48%) of the younger affluent polled believe their personal financial situation has declined in the past year, while 66% of the older affluent feel they are worse off today

AXA Equitable conducted an online survey among 1,116 randomly chosen U.S. consumers who were at least 25 years old, with annual household incomes of $50,000 or higher. Affluence is defined as annual household incomes of $100,000 or greater. Older affluent is defined as individuals age 45 and up, and younger affluent is defined as those between the ages of 25 and 45.