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Economic headlines range from inflation spikes to market uncertainty. No one really can know what will happen next, either tomorrow or years from now. Managing money has become both an art and a science—and each generation is painting a very different picture of how they are approaching their finances. The Logica Future of Money Study reveals how Gen Z, Millennials, Gen X, and Boomers are navigating financial challenges, embracing new tools, and seeking support. From Gen Z’s comfort with all things digital to Boomers preparing to transfer generational wealth, the insights highlight how financial advisors and employers can meet each generation’s unique needs while helping them secure their financial futures.
A Closer Look at Gen Z
Gen Z reports adopting a digital-first approach to money management—seeking convenience, transparency, and real-time control—and that they are aiming to build a solid financial foundation for their futures. This generation is starting to invest earlier than prior generations, and 12% report currently working with a financial advisor, according to our study. There is a significant opportunity for financial advisors, and the financial institutions that support them, to engage more widely with this generation.
On the work front, Gen Zers look to employers to offer support with money management more than older generations, and they are eager to expand their financial knowledge. This represents a unique opportunity for employers to deepen employee engagement and retention by offering programs that support Gen Z’s ambitions for financial security and wealth building beyond compensation benefits. Our Future of Money study shows that 94% of Gen Z values employer-provided programs that help with money management, including a range of support from basic personal finance like help with budgeting and saving to help with investment selection. With over half (58%) of Gen Z say that they would consider switching jobs this year, money management support is a way to help retain this youngest generation of employees.
A Closer Look at Millennials
Millennials continue to integrate technology into their financial routines, which we discussed recently in Quirk’s magazine. This generation is driving the future of financial technology by prioritizing convenience, flexibility and control in their money management, with a focus on long-term financial security. In terms of planning for the future, they report actively contributing to their 401(k) plans and seeking guidance from financial professionals.
This generation is also especially keen on receiving advice from employers on how to manage their money effectively—whether it's knowing how much to save, navigating uncertain economic times, or maximizing their 401(k). With our data showing that 86% of Millennials say it’s important that employers offer money management support, Millennials see their workplace as a key resource in managing their finances.
A Closer Look at Gen X
Known for their cautious and strategic approach, Gen X prioritizes stability in their financial planning, often choosing safer investment options like mutual funds and CDs. The Logica Future of Money Study shows that a quarter of Gen Xers seek financial advisor guidance to make informed investment decisions and optimize their 401(k) contributions. According to WealthManagement.com, financial advisors can best connect with Gen X by offering personalized, educational content that addresses their specific financial concerns, such as planning for aging parents and children's futures, while emphasizing transparency and trust in their services.
As with their younger counterparts, Gen X also wants help from their employers with understanding the basics of investing, saving for financial goals, and making the most of their retirement accounts and more. Over eight in ten (83%) of Gen Xers say it’s important that employers offer money management support, recognizing the value of workplace financial programs.
A Closer Look at Boomers
Boomers typically prefer a traditional, conservative approach to money management, focusing on stability and security. Their financial strategies are guided by a preference for long-term security, reflecting a cautious approach to both investing and managing their finances. But they are getting ready to pass down trillions in assets, and wealth managers should be focusing on strengthening relationships to help effectively manage the generational wealth shift.
They favor low-risk investments, such as mutual funds and CDs, and are more likely to rely on professional financial advisors rather than employer-provided resources at this stage in their lives. Still, two third (65%) place importance on employer-provided financial programs that help them manage their money, according to our study, so making sure Boomers are supported on this front at work is important.
For financial needs across generations, one truth stands out: the way we save and invest is evolving, but the desire for stability and security remains constant. The old-school piggy bank may be collecting dust, but the principles it represents—security, trust, and growth—are more relevant than ever. For financial advisors and employers, this moment represents a powerful opportunity to meet people where they are, helping them save smarter and navigate the uncertain future with confidence.
Related: The Rising Need for Workplace Financial Wellness Programs