A new SoFi survey of 4,090 Americans finds younger generations are trading the traditional playbook for one that balances long-term goals with living now
Gen Z and millennials still aspire to traditional financial milestones, but are increasingly skeptical they will reach them, according to new research.
The report from SoFi Technologies, Inc. titled "Making The Most: How Americans are Maximizing Money and Life in 2026," is based on an online survey conducted by YouGov between July 6 and July 14, 2026, among 4,090 U.S. adults ages 18 to 65.
Its sharpest finding may be the gap between aspiration and expectation. While 62 percent of respondents aspire to retire comfortably, only 46 percent believe they actually will. That 16-point gap is not a rounding error; it represents a significant portion of the advisor's addressable market: people who want help but may not yet believe help is possible.
For advisors building next-generation client practices, the data reinforces an uncomfortable reality. As WP has reported on how advisors can connect with younger client demographics, the majority of Gen Z and millennial investors feel they need a financial advisor, but only a fraction are being actively served by one.
SoFi's survey also finds that younger Americans are starting from a place of genuine ambition: Gen Z and millennials still rank ending the month with money left over and building an emergency fund as their top financial wins. But their confidence is not keeping pace with their goals.
Lifemaxxing and financemaxxing: the new client mindset
SoFi frames the behavioral shifts through two terms that are worth adding to the advisor's vocabulary: "lifemaxxing" and "financemaxxing."
Lifemaxxing describes the prioritization of meaningful experiences alongside, not instead of, long-term financial goals. According to the survey, Americans are twice as likely to consider the ability to enjoy life a marker of financial progress as they are to cite homeownership (59 percent versus 27 percent). Separately, 72 percent of respondents said they are willing to make slower progress on financial goals in order to show up for family, take vacations, and prioritize meaningful memories.
Financemaxxing, meanwhile, describes the strategies Americans are using to stretch their dollars. Three-quarters of respondents report having used at least one money-maximizing tactic in the past year - from rotating streaming subscriptions (25 percent) and using Buy Now, Pay Later services (27 percent) to cutting back on dating costs (23 percent).
For advisors, this behavioral data matters. Clients who are actively managing cash flow through these micro-strategies are demonstrating financial engagement and are likely receptive to structured guidance that builds on those instincts.
Gen Z: entrepreneurial, crypto-curious, and underconfident
The survey surfaces a generational fault line worth noting. Gen Z stands out for its entrepreneurial confidence, with 77 percent saying they believe they can start a business, compared with 58 percent of other generations. That same cohort is four times more likely than baby boomers to have invested in cryptocurrency (26 percent versus 6 percent) according to the SoFi data.
That risk appetite coexists with significant financial anxiety. The SoFi findings align with what U.S. Bank reported in its own 2026 Wealth Survey: despite starting their wealth-building journeys at age 19 on average - earlier than any prior generation - 56 percent of Gen Z respondents said they had done everything right but were not where they hoped to be financially.
Brian Walsh, CFP and Head of Advice & Planning at SoFi, pointed to the broader forces at play. "Today, higher costs, a changing workforce and rapid advances in AI are reshaping how Americans balance goals like buying a home and retiring comfortably with immediate priorities like paying down debt, building an emergency fund and enjoying life today," Walsh said.
What this means for your practice
The SoFi data arrives as advisors are navigating a moment of significant demographic transition. According to Cerulli Associates, approximately $124 trillion in wealth is expected to transfer from older to younger generations by 2048, with millennials poised to receive $46 trillion of that total. The advisors positioned to capture those relationships are those who understand what younger clients actually value and it is not simply asset accumulation.
The survey suggests that the clients entering advisory practices over the next decade are not opposed to long-term financial planning; they are skeptical it will work for them. They are managing money in real time, through tools and tactics their advisors may not be tracking. And they are measuring financial progress by a broader set of criteria than their parents did.
For advisors, the opening is clear. A client who aspires to retire comfortably but doubts they will and who is already optimizing their finances at the margins is a client who is ready for a conversation. They just need to believe the conversation is worth having.
The full SoFi report, "Making The Most: How Americans are Maximizing Money and Life in 2026," is available at sofi.com.
