Financial Insecurity Plagues Young Americans Amidst COVID Era and Beyond

A new study by the TIAA Institute and Business for Impact's AgingWell Hub at Georgetown University found that more than half of Gen Z and younger millennials believe they can have a role in solving global problems like climate change, social injustice, and political division. However, when it comes to their own financial futures, young adults' collective outlook is more bleak, with 51% saying they do not expect to be as well off as their parents. Despite nearly three-quarters of those surveyed saving in a retirement plan, chronic inflation and living paycheck to paycheck make it difficult for those early in their careers to see how they can get ahead. Experts suggest seeking out financial advisors and automating retirement plan contributions to help achieve financial wellness.