Most people are not immune to the worries of the wallet—big and small. From paying for monthly bills all the way to paying for long-term care and everything in between, people from Gen Z to Boomers told us what they are concerned about financially.
Turns out, saving retirement is a key financial worry, with 44% of Americans expressing concern, according to the 2024 Insurance Barometer Study, from Life Happens and LIMRA. This has been true for every year since the study began in 2011.
It’s Millennials’ Turn
While there hasn’t been a major change retirement concern, what has shifted is who is worrying the most about a range of financial issues. This year, Millennials expressed the highest level of financial concern on nine of the 15 specific financial matters we asked them about. Just two years ago, Gen X was the most concerned on 14 of the 15. A generational shift is clearly underway.
If we take a look at the key financial concerns across all generations, we see the gap between these two generations: