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(NewsUSA) – The designation “GenNext” represents adults ages 18-34, the life stage often referred to as “emerging adulthood,” and refers to the next generation of workers, heads of households, consumers, and investors with significant decisions to make about their future. Many in this group are optimistic, despite experiencing personal and professional challenges wrought by recession, inflation, the COVID-19 pandemic, and job transitions with changing workforce expectations, according to a survey from financial services firm Edward Jones, with Next360 Partners and Market Cast.
Overall, the survey found GenNext to be a resilient group, although 80% of respondents currently see themselves as struggling or surviving financially.
“Our research offers a deeper understanding of GenNext, an age group defined by their shared experiences, not the year they were born,” says Lena Haas, head of Wealth Management Advice and Solutions at Edward Jones. “With most worried about rising costs and an inability to save, this will have vast implications for the wealth management industry.”
Contrary to popular belief, GenNext is hardworking and ambitious, but this demographic has distinct approaches to work and life in the face of today’s social and economic challenges. Money matters, but so does comfort, security, and stability.
Members of GenNext also value flexibility, and are open to alternative career paths, which further impacts their saving, spending and investing.
GenNext does not expect the same job stability as previous generations, according to the Edward Jones survey. They place less value on employer loyalty and plan for highly mobile careers of moving from one job to another, wearing many hats, and engaging in “side hustles” and multiple jobs to fund their lifestyles. Although they were born in the digital era, the GenNext lifestyle prioritizes real-world experiences; more than half of survey…
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