Younger Americans are targeting short-term financial goals like saving for a car while older investors aim to continue saving for the long-term as they near retirement.
A new survey from the American Institute of CPAs (AICPA), conducted by The Harris Poll, finds while almost all individuals across generations have financial goals for 2026, their targets largely differ.
Generation Zers and Millennials were likelier to list saving for a car (at 41% and 33%, respectively), compared to older generations like Generation Xers and Baby Boomers. Instead, these savers were more determined on saving for retirement (at 46% for Gen Xers and 32% for Boomers).
Gen Zers paid more focus on major life milestones, like saving for a home (36%), while Millennials balanced lifestyle and stability goals like saving for a vacation (36%) and paying down debt (35%).
Meanwhile, Gen Xers also listed debt reduction (37%) and investing (31%) as their top goals as Boomers weighed paying off debt (33%) while saving for vacations (27%).
“Our survey findings highlight just how differently each generation is experiencing today’s economy,” said Pamela Ladd, CPA/PFS AICPA’s senior manager of Personal Financial Planning. “While Gen Z’s goals for 2026 are focused on major life milestones like buying a car or home, Millennials are striving for balance, and older generations are prioritizing retirement readiness and debt reduction. Despite these differences, nearly all Americans share one common thread – having financial goals for 2026.”
Younger savers poise 2026 as the year of financial growth, the study reports. Half of Gen Zers and 52% of Millennials believe 2026 will be financially stronger than last year, compared to 42% of Gen Xers and 29% of Boomers who believe the same.
When asked what would prevent them from being in a stronger financial situation in 2026, all generations listed rising costs of living as the top barrier.
Professional tips
The study included top recommendations from CPAs on how savers can manage their top financial goals for 2026.
For Gen Zers, the study advises the youngest working cohort to build an emergency fund of six to eight months of expenses, keep debt controllable and continue investing consistently.
Millennials could benefit from automating savings, using budgeting tools, and prioritizing paying down high-interest debt while creating a financial plan, experts say.
As Gen Xers catch up on long-term savings after years of battling competing costs, experts recommend maximizing employer retirement contributions, paying down any remaining debt, and increasing 401(k) and Roth individual retirement account (IRA) contributions annually.
Finally, Boomers could benefit from reducing financial obligations and reviewing investment risk levels as they aim to enjoy retirement.
AICPA’s survey was conducted at the end of December 2025 and surveyed 2,079 adults ages 18 or older.