Millennials Turn Attention to Making Ends Meet, While Gen Z Still has FOMO. https://concreit.app.link/d

1. Millennials Turn Attention to Making Ends Meet,
While Gen Z Still has FOMO

2. When asked “What currently takes
priority in terms of your savings?”
building an emergency fund was the
number one response for millennials,
ahead of a down payment for a home
(19%) and travel (16%). Interestingly,
retirement and student loans tied for
last place at 14%.

3. Somewhat unsurprisingly, Gen Z’s
number one priority is paying for
their education or student loans,
with 38% saying that takes
precedent.
Saving for travel came in second,
followed by building an emergency
fund. The same percentage of Gen
Z & millennials reported that they
are not currently saving (13%).

4. Savings-Priorities
While these differences in
priorities may be attributed in
large part to the specific life stage
that each generation is in, the
differences we found between
these two generation’s top
financial concerns may signal
more fundamental differences in
how they think about money.

5. Millennials say that “Not
being able to pay my bills”
is their top worry (26%),
followed by “Not being able
to live the lifestyle I’d like
to” (25%) and “Not being
able to retire when I’d like
to” (21%).
Whether it’s the crushing
cost of living in major urban
centers or a broader shift in
the American dream, not
being able to save enough
for a down payment for a
home (16%) was even
further down millennials’
concern list.
When asked, “What is your biggest financial concern?”

6. What was Gen Z’s top financial concern?
“Not being able to live the lifestyle I'd like
to," with 38% choosing that as their top
worry. Not being able to pay their bills
came in second (25%) and not being able
to pay student loans came in third (18%).

7. Financial-Concerns
With the enormous amount
of student loan debt
saddling millennials, it’s
notable that “Not being
able to pay off my student
loans” came in last for
them and third for Gen Z.

8. However, it could also be
that as millennials age,
their heightened concern
for paying their bills and
maintaining their lifestyle
is a direct result of things
like student loan debt
which continues to siphon
money from other goals
like stashing money for
retirement.

9. On a personal note, I’m a Boomer with savings and retirement concerns.
I have found Concreit to be very easy to use to achieve my financial goals.
Bryan L. – Concreit Channel Partner