Gen Z more likely to aspire to traditional milestones than travel the word, study finds

Gen Zs are more likely to pursue traditional milestones such as getting married and starting a family, than taking a gap year to travel the world.

According to the research of 2,000 adults, those born after 1996 are more conventional than perhaps thought – with key priorities called out as becoming financially independent and advancing in a good career.

More than a third (35%) dream of walking down the aisle one day, while 34% are keen to have children and as many as 22% are already considering how they can achieve early retirement.

The study, commissioned by John Lewis Money, found boomers – born between 1946 and 1964 – have set their sights on travelling the world (36%) over paying off a mortgage (21%).

And one in five (20%) are hoping to pick up the keys to a brand new car, showing it’s not just younger people who like to drive in style.

Millennials – aged 28 to 43 – are focusing their efforts on saving for the future (36%) or simply owning a property with a driveway (16%). Across all age groups, 36 is the age people believe they will tick off the most life goals.

Wayne D'Aranjo from John Lewis Money said: “In a reversal of received wisdom, it’s interesting to see the traditional, and some would say very sensible, life moments and milestones that the younger generations aspire to experience - like becoming financially independent and saving for the future.

“In contrast, it’s the older generation that class travelling abroad as their main priority.”

Of those over 40, nearly half (49%) think that their life goals have barely changed at all from when they were 20.

Positively, six in ten (59%) still think they have time to fulfil everything they want to and are planning to use their savings (62%), salary (40%) and investments (20%) to fund their goals. One in ten, however, believe they'd need to win the lottery in order to cover everything.

Furthermore, 46% believe it’s important to have a life bucket list – with main reasons being it’s good to have something to aim for (63%) and to make you feel alive (54%).

While 37% of Gen Zs and millennials agree that they have more opportunities than older generations because the world is more connected, according to the research by OnePoll.

Wayne D'Aranjo added: “Whether it’s a desire to have a family dog, or to buy a new car, just having a bucket list of what we want to achieve from life can be a good starting point to help make it actually happen.”