How do you know when you did it financially in life?

Less than a third of Americans (31%) think they have “done” in life, according to new research.

A study of 2,000 Americans employed even separated from the generation found that those who do not think they are still there, just over half (54%) believe they are well in their way and will “do it” financially in their lives.

Interesting, more millennia than any other generation (34%) believe they have already done it.

However, aging is not always easier: only 27% of children’s boomers believe they have achieved financial success, and, of those who do not, just a third faith they want.

What are you holding them back? Conducted by Talker Research for Bok Financial, the survey results found that Americans believe that external factors will affect their financial goals: presidential elections (46%), interest rate changes (45%) and labor market (42%).

Eight in 10 say their definition of “financial making” has evolved over time (79%) and the average net value identified to “do it” is about $ 234,000.

Half of the respondents said that given how their parents described finances when they entered the adulthood, it is more difficult to do it financially today than before (54%).

“The uncertainty about the economy, politics and other external factors can weigh a lot in people – and they are now,” Joneca Jones said with financial advisers Bok, a Bok Financial Associate. “And financial heads like high inflation and interest rates can make it feel like it is more difficult to advance, but the baby’s steps are essential. If anyone is struggling to see success in their financial future, it is important to start, even with a small saving account.”

Today, his “making” comes with his obstacles; According to respondents, some of them include high living costs (42%) and inflation (26%) or their personal spending habits (7%).

Injected, nearly half of children boomers (48%) and Gen X react (47%) cite a higher cost of living as more an obstacle compared to General Z (34%).

On the other hand, the responses of General Z (28%) and the millennium (30%) were more likely to constitute the inflation that affects them.

Not only that “making it” is more difficult to achieve, but the results look completely different from previous generations.

According to the survey, due to a home (78%) or a vehicle (64%) is needed to be financially successful today, while having children (40%) or getting married (34%) were key indicators for their parents who are important.

Gaining a college diploma (30%) as well as having a long -established career (48%) are also more in line with modern financial success than that of response parents.

When it comes to how they are using their money today, General Z (27%) and Millennials (31%) said the largest amount of their money is spent on their family, while Gen (43%) and Baby Boomers (50%) are putting their finances towards pension above all.

For others, being able to cope with pension planning will come later: about 41 years old for Gen Zers and 46 years old for millennia.

Although they are spending on their loved ones, General Z is keeping their needs in mind.

They had the highest percentage of answers who said they are better using their money to buy items that make them happy (20%).

Although the older generation prioritizes the use of money practice, children’s boomers were less secure in their financial future during retirement (33%) and their ability to plan for the future without any professional assistance (49%); General Z is safer to be able to do this (70%).

“While people can feel sure they can manage money on their own, I would really advocate for education,” Jones said. “Young people, in particular, are showing an interest in understanding the financial concepts that are encouraging, but there is a lot of information there, so I encourage people to make their own resources double.”

Despite the lesson to be done, Americans are more interesting when they hear those who are older than they are their peers when it comes to financial advice.

Although respondents are less interesting in social media financial advice (41%), 45% say social platforms affect their perceptions of what it means to do it financially.

General Z expressed the greatest interest in receiving financial advice from social media (64%) and, on the other hand, was best to say that it affects their perception of what it means to “do” financially.

Survey Methodology:

Talker’s research surveyed 2,000 Americans employed equally separated by generation (500 gen z, 500 milllennials, 500 gen X and 500 Baby Boomers); The survey was ordered by Bok Financial and was administered and carried out online by Talker Research between October 18 and October 24, 2024.