One of the most persistent — and inaccurate — stereotypes around Gen Z and Millennials is that they’re carefree generations. They’re often portrayed as more concerned with how good they look on TikTok or owning the latest tech than with managing their money. Like many preconceived notions, this one doesn’t hold up under scrutiny.
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Zoomers and Millennials are paying close attention to the world around them, and they’re worried by what they see — especially when it comes to their financial futures. When GOBankingRates and New York Life surveyed Americans aged 18 and up across the country, a surprisingly high number of Gen Z and Millennial respondents said that thinking about their financial future is keeping them up at night.
The results suggest that these generations are not only aware of the financial challenges they face today — but also cautiously optimistic about what lies ahead.
Survey respondents were asked to rank their agreement with the statement, “Thinking about my future sometimes keeps me up at night,” on a scale from 1 to 10 — where 1 meant “doesn’t sound like me at all,” and 10 meant “very much sounds like me.” The youngest group, ages 18 to 24, had the highest percentage of respondents who selected a 10, a striking 25%.
Millennials weren’t far behind, with 23.94% of respondents ages 35 to 44 also giving the statement a 10, and 18.09% rating it a 9. The transitional cohort of 25 to 34-year-olds also showed signs of anxiety: About 20% selected an 8, while over 15% and over 16% chose 9 and a 10, respectively.
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Baby Boomers appear to be most at ease with their financial situation, with a significant number — about 19.44% — giving the statement a 1, signaling minimal concern about their financial futures. Conversely, only 6.67% of Boomers gave it a 10, and 5.56% gave it a 9 — meaning just 12.23% in that age group reported sleep-threatening anxieties around their financial futures.
Gen Xers (ages 45-54) fell somewhere in the middle: Nearly 15% rated the statement a 10, indicating that while they may sleep a little better than younger generations, they’re still carrying financial stress — just not at the same level.
This data shows that younger generations are feeling some serious financial — and physical, if they don’t get enough sleep — strain. But it’s not all doom and gloom for Zoomers and Millennials.
Respondents were also asked to rank their confidence that, eventually, they’ll be able to reach their financial goals, again on a scale from 1 to 10. Among those aged 18 to 24, more than 22% selected an 8, with over 10% and more than 16% selecting a 9 and 10, respectively.
Millennials (ages 35-44) were also fairly optimistic that the sleepless times would pass: Over 20% rated their confidence a 10, while more than 12% and 14% gave it an 8 and a 9, respectively. That in-between group of 25-34-year-olds? They’re also pretty confident that everything will turn out OK. More than 16% gave themselves a 10, and a combined 26.48% selected 8 or 9.
Times may feel financially bleak for younger generations, but they’re not without hope. Many Gen Z and Millennial Americans are losing sleep over money, but the same survey shows they’re still optimistic that, eventually, they’ll achieve their financial goals.
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GOBankingRates and New York Life Insurance surveyed 1,009 Americans aged 18 and older from across the country between March 19 and March 125, 2025, asking twenty-one different questions: (1) What is your current employment status?; (2) Which of the following category or categories best describes your race or ethnicity? (If more than one category applies, please select all that apply); (3) What are the source(s) of income for your household? (Please select all that apply); (4) Please choose the approximate level of investible assets for your household; (5) Using the scale below, how do you feel about the following statement: “I often take the opportunity to discuss my knowledge of financial products or services with others”; (6) Using the scale below, how do you feel about the following statement: “I regularly read financial news or financial publications”; (7) Using the scale below, how do you feel about the following statement: “Thinking about my future sometimes keeps me up at night”; (8) Using the scale below, how do you feel about the following statement: “I have enough money to live the way I would like to”; (9) Using the scale below, how do you feel about the following statement: “I believe that The American dream is within reach for people like me”; (10) Using the scale below, how do you feel about the following statement: “Stories in the media sometimes make me nervous about my financial future”; (11) Using the scale below, how do you feel about the following statement: “I can’t really take risks in my life because I don’t have a safety net if things go wrong”; (12) Thinking about the nation’s economy, how would you rate economic conditions today?; (13) A year from now, do you think that during the next twelve months we’ll have good times financially, or bad times, or what?; (14) Compared to 6 months ago, how has your level of uncertainty changed regarding the following societal and economic issues?; (15) Do you own any of the following products? (Please select all that apply); (16) Do you currently have a financial plan?; (17) On a 1 to 10 scale, where 1 means not at all confident and 10 means completely confident, how confident are you that you will meet your financial goals?; (18) What kind of financial professional have you worked with? (Please select all that apply); (19) Using the slider below, please indicate which statement best describes you.; (20) Using the slider below, please indicate which statement best describes you.; and (21) Using the slider below, please indicate which statement best describes you. In order to take the survey the respondents had to pass two screener questions (S1)
Who is the primary financial decision-maker in your household? witht the answer being they were at least involved in the households financial decision making and (S2) Which range best describes your total annual household income before taxes? with an answer above $50K. GOBankingRates used PureSpectrum’s survey platform to conduct the poll.
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This article originally appeared on GOBankingRates.com: Financial Confidence Survey: Gen Z and Millennials Say Thinking About Their Future Keeps Them Up at Night
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