I saved $100,000 by age 22 and thought I'd feel secure. Instead, my money anxiety got worse.

They're investing earlier than previous generations, starting at 19 on average and six years earlier than millennials. A recent Vanguard study found that 47% of Gen Z workers are positioned to retire successfully, compared to 40% of baby boomers, based on Vanguard's analysis of government data. The St. Louis Fed estimates that millennial and older Gen Z households had, on average, 35% more wealth, adjusted for inflation, than boomers did at that age, and younger Zoomers may be on pace to match that trend.

Throughout college, I worked three jobs at a time. I saved every receipt during my senior year internship. I would spend $14 on groceries, intending that, plus free office meals, to last me a week or more. I was grateful to have the opportunity to save, as my parents helped pay for my steeply discounted tuition. By 2023, I had surpassed my savings milestone of $100,000, a number I had targeted for years, and secured a full-time job — but I couldn't let myself enjoy it. The next $100,000 seemed more important. Without it, I wouldn't feel secure. Over the past year, I've vowed to get better at e

So why does it seem like most people my age think they'll never retire? Why do my high-earning friends feel like they'll never be successful? Why do I feel like I can't "live"?

While money anxiety isn't a unique affliction among younger people, the so-called "anxious generation" has in many ways earned the moniker. Recent Edward Jones survey data show that only 5% of Gen Z respondents felt "financially fulfilled," defined as the point at which finances align with their values and goals. Beyond money, the American Psychological Association has also shown that younger Americans report higher stress levels than their older counterparts, with some experts citing stressors like inflation, COVID after-effects, and healthcare challenges. Almost everyone I speak to in my gen

Emma Irwin, 27, graduated from college in three years, then bounced around lower-cost-of-living cities as she built her career in brand marketing. Now in Minneapolis, she earns nearly six figures but feels she's living paycheck to paycheck. She adds that growing grocery costs, frequent moves, and hobbies have made her feel uneasy, despite feeling emotionally fulfilled. Despite contributing to a 401(k) and Roth IRA, she worries she may never retire comfortably.

Sonya Lutter, director of financial health and wellness at Texas Tech, says it's very common for higher earners to experience intense pressure to save. Some higher earners I spoke to say their stress shifted years ago from basic survival to lifestyle maintenance and asset preservation, fueling a need to hang on to every dollar they have. A few admit to having some form of money dysmorphia, in which higher earners feel broke compared to others making much more. Lutter says it often takes a wake-up call to step back and create a "values bull's-eye" of what people cherish most in their lives.

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Then there are the millions of Gen Zers who have fallen behind financially. The unemployment rate for recent college graduates is about 5.6%, compared with 4.2% for all workers, and the underemployment rate (those working in jobs that don't require a four-year bachelor's degree) is 42%, compared with 33.7% for all college graduates. A recent Bank of America study found that 43% of Gen Z reported not being on track to begin actively saving for retirement in the next five years, while 55% said they lacked three months' worth of emergency savings. Financial concerns have pushed nearly three-fourt

"I'm seeking a sense of normalcy by having retirement savings and benefits," Aldrich says. "I feel caught in this really weird dance of time right now."

Covering personal finance for my job and still struggling with money anxiety … gives me anxiety. I know more about managing money than most of my peers, yet sometimes it's impossible to apply those lessons.