I tried to stop being anxious about money. It completely backfired.
Despite strong financial indicators for Gen Z, many young people continue to experience deep-seated anxiety about their economic future. The author reflects on their own struggle with 'financial vibecession' despite reaching significant savings milestones.
Why it matters
It explores the psychological disconnect between objective financial data and the subjective experience of economic insecurity among younger generations.
Getty Images; Alyssa Powell/BI Gen Z is afraid. AI will take over their job. They'll never buy a house . They'll go bankrupt caring for their parents. They're being left behind by their peers. They'll never retire . Gen Z is also in pretty good shape. They're investing earlier than previous generations, starting at 19 on average and six years earlier than millennials . A recent Vanguard study found that 47% of Gen Z workers are positioned to retire successfully , compared to 40% of baby boomers, based on Vanguard's analysis of government data. The St. Louis Fed estimates that millennial and older Gen Z households had, on average, 35% more wealth, adjusted for inflation, than boomers did at that age, and younger Zoomers may be on pace to match that trend.
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