"Clients who are objectively on solid ground are worried they one day won't be. Some are obsessive about budgeting. Others are scared of being replaced by AI."
"A 2024 Charles Schwab survey found that the average Zoomer started saving at age 18, younger than other generations had. Nearly half are investing, and most began that before age 20."
"Some of her Gen Z clients have saved more than a lot of her Millennials have. All of that might seem counterintuitive for a generation with a bit of a Peter Pan reputation."
"What seems like falling behind could actually be planning. Young people are postponing traditional adulthood milestones, putting off having families or buying homes at least in part because they don't feel they can afford them."
Young adults, particularly Gen Z, face significant financial anxiety, often viewing it as a chronic stressor. Many are obsessively budgeting and saving, with some saving 40% of their income. A 2024 survey indicates Gen Z starts saving at age 18, earlier than previous generations. Nearly half invest before age 20, and they hold more assets in retirement accounts than Gen X did at the same age. Despite delaying traditional milestones like homeownership, their financial behaviors reflect careful planning rather than irresponsibility.
Read at The Atlantic
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