How do you know when you have done it financially in life?

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

A survey of 2,000 North -Uniform -occupied -divided by the generation revealed that those who do not think are still there, a little more than half (54%) believe that they are underway and that they will “financially” during their lifetime.

Interestingly, more millennial than any other generation (34%) believe that they have already done so.

However, aging is not always easier: only 27% of Baby Boomers believe that they have achieved financial success and, of those who have not done so, only one third believes that someday it will.

What does they return to them? Made by Talker Research for Bok Financial, the results of the surveys found that North -Americans believe that external factors will affect their financial goals: the results of the presidential election (46%), the changes in interest rates (45%) and the labor market (42%).

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

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

“Uncertainty about economics, politics and other external factors can weigh a lot in the people, and right now,” Jessica Jones said with Bok Financial Advisors, a Financial Bok subsidiary. “And financial advantages, such as high inflation and interest rates, can make it harder to move forward, but baby’s steps are key. If someone struggles to see success in their financial future, it is important to start, even with a small savings account.”

Today, “doing it” financially comes with its own barriers; According to respondents, some of these include high lifetime (42%) and inflation (26%) or even their own personal spending habits (7%).

Surprisingly, almost half of the baby boomers (48%) and the X -gene respondents (47%) cite a higher life cost as a barrier compared to the Z gene (34%).

On the other hand, Gen Z (28%) and Millennial (30%) respondents were the most likely to take into account the inflation that affected them.

It is not only more difficult to “do it”, but the results seem completely different from the previous generations.

According to the survey, it is necessary to have a home (78%) or a vehicle (64%) to be financial success, while having children (40%) or marrying -S (34%) were key indicators for their parents who are not so important now.

Obtaining a university degree (30%) and having a long -term (48%) established career also fits more to modern financial success than to the parents of respondents.

When it comes to how they use their money today, gene Z (27%) and millennials (31%) said that the biggest sum of their money is spent on their family, while Gen X (43%) and Baby Boomers (50%) are putting their finances on retirement above all.

For others, being able to pay retirement planning will come later: at the age of 41 for Zers and 46 years for millennial respondents.

Although they spend on their loved ones, gene Z also takes their own needs.

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

Although the oldest generation prioritizes the use of almost money, the baby boomers were the least trusted in their financial future during retirement (33%) and their ability to plan the future without any professional help (49%); Z Z is more confident in power -to do it (70%).

“Although people may feel -sure they can handle money on their own, I would really defend being educated,” Jones said. “Young people, above all, show an interest in understanding financial concepts, which is encouraging, but there is a lot of information, so I encourage people to check their sources.”

With all the learning that are done, the North -Americans are more interested in listening to those who are older than their own colleagues (64% vs 56%) when it comes to financial advice.

Although respondents are less interested in social media financial councils (41%), 45% say that social platforms influence their perception of what it means to do it economically.

Gen Z expressed more interest in obtaining financial advice from social media (64%) and, in turn, was most likely to say that it influences its perception of what it means to do economically.

Survey Methodology:

Talker Research surveyed 2,000 North -American employees evenly divided by generation (500 gene Z, 500 millennials, 500 gene x and 500 baby boomers); The survey was commissioned by Financial Bok and administered and made online by Talker Research between October 18 and 24, 2024.