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Financial pressures are pushing young people to delay milestones like home ownership and marriage, according to a new study by Stagwell's the Harris Poll for Northwestern Mutual.
Key findings include:
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72% of Gen Z and 56% of millennials say financial challenges have caused them to delay at least one major life milestone.
A similar amount (71% of Gen Z and 60% of millennials) worry they might never be able to afford at least one major milestone.
31% of Gen Z and 24% of millennials have delayed buying a house, while 24% of Gen Z and 14% of millennials have delayed having children.
20% of Gen Z and 11% of millennials have delayed getting married.
Nearly half of Gen Z (46%) and a third (32%) of millennials feel pessimistic about the impact of AI on their careers.
Among Gen Z and millennial parents, more than 7 in 10 say they spend as much or more on their children each month as they do on rent or a mortgage.
Gen Z started saving for retirement at 22 on average, while ,illennials started at 28.
See more from the study here.
Staff Writer
