J.P. Morgan Finds 48% of Gen Z Favor Vacations Over Retirement Saving

1 articles · Updated · The Independent · Jul 21

Forty-eight percent of adults under 29 put vacations ahead of retirement saving in J.P. Morgan’s latest study, the highest share among the four generations surveyed.
The report says younger workers still view retirement as important but are more likely to rank other financial needs first and to expect more employer help making retirement-plan decisions.
Gen Z is nearly 60% more likely than baby boomers to want advice on how much to contribute, while only 11% of boomers prioritize saving for vacations.
The findings land as broader surveys show a retirement shortfall: workers say they need about $1.2 million to retire comfortably, but roughly half expect to have less than $500,000.