Different generations are hopeful about their future, despite varied goals

Americans of all ages are hopeful about improving their financial situations this year. But the financial goals for each generation vary – from Generation Z’s savings push to baby boomers’ focus on debt reduction.

Those were among the findings of a survey conducted by The Harris Poll on behalf of the American Institute of CPAs.

“Our survey findings highlight just how differently each generation is experiencing today’s economy,” said Pamela Ladd, AICPA’s senior manager of personal financial planning. “While Gen Z’s goals for 2026 are focused on major life milestones like buying a car or home, millennials are striving for balance, and older generations are prioritizing retirement readiness and debt reduction. Despite these differences, nearly all Americans share one common thread – having financial goals for 2026.”

As the survey pointed out, despite having different levels of optimism, goal‑setting was nearly universal across generations. A whopping 92% of Americans said they have financial goals for 2026.

When asked if this year will be better financially for them than 2025 was, optimism was higher for Gen Z, millennials and Gen X than it was for baby boomers. For example:

• 50% of Gen Z believe that 2026 will be better financially for them than 2025.
• 52% of millennials believe that 2026 will be better financially for them than 2025.
• 42% of Gen X believe that 2026 will be better financially for them than 2025.
• 29% of baby boomers believe that 2026 will be better financially for them than 2025.

Top 2026 financial goals for each generation

The survey also shared the financial goals of each generation. For example:

—Gen Z is focused on major life milestones:

1. Saving for a car (41%)
2. Investing (39%)
3. Saving for a home (36%)

—Millennials are split between lifestyle and stability:

1. Saving for a vacation (36%)
2. Paying down debt (35%)
3. Investing (35%)
4. Saving for a car (33%)

—Gen X shows strong retirement and debt focus:

1. Saving for retirement (46%)
2. Paying down debt (37%)
3. Investing (31%)

—Baby boomers also aim for controlling debt and retirement savings, with a bit of fun:

1. Paying down debt (33%)
2. Investing (33%)
3. Saving for retirement (32%)
4. Saving for a vacation (27%)

When asked what may prevent those with financial goals for 2026 from reaching them, the top answer for each generation was the same – the rising cost of living (e.g., housing, groceries, utilities):

• 59% of baby boomers
• 53% of Gen X
• 44% of millennials
• 40% of Gen Z

Tips from CPAs

The survey also shared several tips that CPAs offered for each generation:

Gen Z: Build an emergency fund first (six to eight months of expenses), keep debt manageable and invest consistently, even in small amounts. Although this group is focused on big life milestones – buying a car, investing early and saving for a first home– it’s important to balance ambition with stability and long-term planning.

Millennials: Creating a plan for success can help millennials enjoy today without sacrificing long‑term progress. Automate savings, using budgeting tools and prioritize paying down high‑interest debt. Millennials show they are interested in saving for a vacation while also tackling debt and investing.

Gen X: Gen X is entering peak financial pressure years, and their financial goals reflect that. They may also fear that it’s too late to catch up on retirement – but it’s not. Maximize employer retirement contributions, pay down lingering debt and define what retirement will cost. Small adjustments, such as increasing 401(k) and Roth IRA contributions annually, can make a difference.

Baby boomers: Reducing financial obligations and reviewing investment risk levels can help ensure that savings last throughout retirement. Many boomers also want to enjoy life now – by doing things such as taking a vacation – but should do so by using a clear spending plan.

Helping different generations achieve their goals

How can financial professionals and wealth managers use the information from this survey to help different generations obtain their financial goals for 2026—and beyond? “Using real‑world data can enrich client conversations and reinforce the relevance of a personalized financial plan,” said Ladd. “Regular check‑ins help adjust strategies as clients face ongoing cost‑of‑living pressures.”

The survey was conducted online in the United States by The Harris Poll on behalf of AICPA from December 18-22, 2025, among 2,079 adults ages 18 and older.

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