The online survey was conducted in June among a nationally representative sample of 5,000 people who reported experiencing anxiety over housing affordability and market volatility, two forces impacting their lives despite their efforts to manage these issues.
A new nationwide survey by U.S. Bank highlights a striking paradox in American finances: millions of people are making responsible money decisions, yet they still feel that the goals they care about most—owning a home, retiring comfortably, and building wealth—are increasingly out of reach.
The study, conducted in partnership with Edelman DXI, surveyed 5,000 U.S. adults and found widespread anxiety across generations about how larger economic forces, from rising housing costs to market volatility, are shaping individual futures.
While budgeting, cutting spending, and investing remain common practices, Americans, particularly Millennials and Gen Z, say the economic environment makes long-term progress elusive.
Smart Moves, Lingering Doubts
According to the survey, 68% of Americans regularly budget, 64% reduce their leisure spending, and 57% create financial plans. Yet despite these prudent choices, most respondents said they feel little control over the trajectory of their financial lives.
- 81% believe it is harder to retire today than it was for their parents.
- 77% say the economy influences their retirement timeline.
- 75% report that economic conditions impact their decision to rent or buy a home.
- 63% worry they may need to come out of retirement due to financial pressures.
The sense of helplessness was most pronounced among younger adults. For example, 91% of Gen Z respondents said the economy influences whether they buy or rent, compared with just 51% of Boomers. Similarly, nearly nine in ten Gen Z and Millennial respondents said economic factors dictate where they can afford to live.
“This year’s survey reveals a seismic shift in the American dream,” said Scott Ford, head of Wealth Management at U.S. Bank. “Although many survey respondents are making prudent choices, they are disheartened and wonder if their efforts are worth the sacrifice.”
Redefining Success: More Than Money
While financial benchmarks remain critical, the survey suggests that Americans, especially younger generations, are expanding their definition of success.
- 93% of all respondents stated that meaningful family and community relationships are essential to their sense of success.
- 88% view owning a home as a key milestone. Among Gen Z, six in ten said that homeownership has become more important over the past five years.
- 93% said having enough retirement savings to live comfortably is a key measure of success.
At the same time, 16% of Americans overall, and nearly a quarter of Gen X, say they have given up on the idea of retiring due to financial challenges.
“For many Americans, success today means more than achieving financial goals,” Ford added. “Starting with a view of what matters most to you and what you envision for your life can serve as a motivating north star as you build and execute your financial plan.”
Retirement Planning Takes a Backseat
Although most Americans feel capable of handling daily expenses, long-term planning is lagging, particularly among younger people and women.
- Only 48% of individuals are making monthly contributions to their retirement accounts.
- Just 37% of non-retired Americans are actively saving for retirement.
- Women remain less likely than men to have started retirement planning (54% vs. 67%) and express less confidence that their savings will last (49% vs. 66%).
- Worries about outliving retirement savings are highest among Gen Z (68%) and Millennials (69%).
While Americans recognize the importance of retirement, they must contend with near-term economic pressures that are pushing long-range planning further down their priority list.
The Confidence Boost of Financial Planning
Despite the headwinds, the survey also pointed to a clear solution: professional advice and structured financial planning.
- 89% of those with a financial advisor feel in control of retirement savings, compared to 73% without one.
- 85% of those with an advisor are confident about homeownership, versus 60% without.
- Among Americans with a net worth of less than $50,000, having a financial plan nearly doubled their confidence in retirement readiness.
In fact, 57% of people with a financial plan reported being confident they could retire early, compared with just 32% of those without a plan.
“Doing things the right way and struggling to see progress is discouraging,” Ford said. “But you don’t have to wait to take control. Starting small, seeking guidance, and staying focused can help turn uncertainty into action and restore a sense of confidence in what comes next.”
A Generational Divide in Outlook
The survey illuminated sharp generational contrasts:
- Millennials and Gen Z are most sensitive to economic volatility, housing costs, and retirement uncertainty. They are also more likely to prioritize emotional well-being and family relationships as core measures of success.
- Gen X feels squeezed in both directions, worried about funding retirement while still supporting children or aging parents. Nearly one in four Gen Xers said they had abandoned hopes of retiring altogether.
- Baby Boomers, many of whom are already retired or nearing retirement, report higher confidence and lower financial stress. Still, more than half said the current economy has affected their retirement plans.
The U.S. Bank survey reflects the financial stress associated with housing affordability, inflation, and shifting job markets that weigh heavily on people’s goals.
By utilizing tools such as financial planning and professional advice, many Americans can gain greater control over their future.
Ford summarizes it this way: “The good news is that even small steps, setting a budget, investing what you can, and seeking guidance, can make a meaningful difference. Financial progress may feel elusive, but it’s still possible.”
Survey Methodology
The survey was conducted online from June 9 to June 26, 2025, among a nationally representative sample of 5,000 U.S. adults aged 18 and older. The average interview lasted 15 minutes. The margin of error is ±1.5% at the 95% confidence level.
For more details on the full survey, visit usbank.com/wealth-survey.
