SoFi Survey: 57% of Gen Z and 45% of Millennials Say Retirement Is Achievable

SoFi survey finds Gen Z and Millennials optimistic about retirement despite economic turbulence. 57% of Gen Z and 45% of Millennials say it's achievable.

Despite ongoing economic turbulence, a new SoFi survey finds Gen Z and Millennials surprisingly optimistic about retirement. The survey shows 57% of Gen Z respondents believe retirement is achievable with a plan in place, while 45% of Millennials share that confidence. This positive mindset highlights a generational shift in attitudes toward retirement planning and financial responsibility.

Gen Z’s bullish view on retirement stands out. Many in this younger cohort started saving and investing earlier, embrace digital financial tools, and prioritize financial education. That proactive approach—combined with access to employer-sponsored retirement plans and fintech apps—helps explain why more than half of Gen Z believes a secure retirement is within reach.

Millennials remain cautiously optimistic but face unique headwinds. Student loans, the rising cost of living, and disrupted career paths have impacted their ability to save consistently. Still, nearly half of Millennials saying retirement is achievable suggests that financial planning, disciplined saving, and targeted advice can help bridge the gap.

What both generations share is the belief that a plan matters. Financial planning, regular contributions to retirement accounts, and diversified investments are key drivers of confidence. Experts recommend automating savings, contributing to employer 401(k) matches, and building an emergency fund to avoid tapping retirement assets prematurely.

Practical steps to improve retirement readiness include starting early—even small amounts compound over time—maximizing tax-advantaged accounts like IRAs and 401(k)s, and leveraging low-cost index funds to build long-term wealth. For younger savers, developing a habit of saving and learning basic investing principles can make retirement more attainable.

The SoFi findings, reported by News Channel 3-12, underscore a hopeful trend: despite economic uncertainty, many young people believe they can reach retirement goals with intentional planning. Whether you’re Gen Z just starting your career or a Millennial re-evaluating your savings strategy, the takeaway is clear: a thoughtfully designed plan boosts confidence and increases the chances that retirement will be achievable.

Taking action now—setting goals, creating a budget, and seeking financial guidance—can turn optimism into reality. Retirement may feel within reach for more people than expected, but it still requires commitment and consistent planning.

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