Gen Z are dipping into their retirements, skipping meals and selling belongings
8 days ago
- #Financial Struggles
- #Debt Crisis
- #Gen Z
- Nearly half of Gen Z have withdrawn from retirement savings to pay debt and cover emergencies.
- Gen Z is skipping meals, delaying medical care, and selling belongings to afford rent.
- 38% of employees across generations have withdrawn from retirement, but Gen Z leads at nearly 50%.
- 42% of Gen Z used retirement savings to pay off debt, compared to 6% of Millennials.
- 22% of Gen Z renters skip meals, sell belongings, or delay medical treatments to pay rent.
- Gen Z carries an average of $94,000 in personal debt, higher than Millennials and Gen X.
- Gen Z pays $526 monthly on student loans, nearly double the average across all age groups.
- Many rely on credit cards for daily expenses, with average balances around $3,262.