Gen Z favors betting, crypto as fast path to goals

Almost one-third of U.S. Gen Z adults (ages 18 to 29) say they are risking or considering money in sports betting, cryptocurrency and prediction markets, and 80% of that group view those platforms as a faster path to financial goals than traditional saving and investing, according to Northwestern Mutual’s 2026 Planning & Progress Study.

The survey was conducted by The Harris Poll between Jan. 5 and Jan. 21, 2026, and included responses from 4,375 U.S. adults. The report asked about attitudes and behaviors related to long-term financial security and planning.

Respondents cited inflation, limited job opportunities, high housing costs and heavy debt as factors shaping their choices. John Roberts, chief field officer at Northwestern Mutual, described a growing sense of ‘financial nihilism’ among some respondents, saying a segment of people feel they have not saved enough and are “swinging for the fences” with high-risk bets.

The study found a planning gap across age groups: 52% of all adults prioritize growing wealth over protecting what they already have. The gap is larger among younger people, affecting 57% of Gen Z and 62% of Millennials.

Northwestern Mutual recommended treating betting, crypto and prediction markets as entertainment and using only money one can afford to lose. The report presents that guidance as one perspective from the insurer’s research and client outreach.

Data posted by one prediction-market platform cited in the study show most traders do not make large gains. About 32% of that platform’s traders have turned a profit; of those profitable traders, roughly 73% earned $100 or less and 92% earned no more than $1,000. The platform reports 67% of traders lose more than they win, and about half of participants have traded sums of $1,000 or less.

The survey also recorded modest improvements in financial confidence. Half of Americans said they felt financially secure in 2026, up six percentage points from the prior year. Seventy-one percent of people with a financial advisor reported feeling secure, compared with 10% of people without an advisor who reported feeling secure. The share of adults who describe themselves as disciplined planners rose to 53% after a low point of 45% in 2024.

Home ownership remains a central financial aim: 75% of U.S. adults said owning a home is essential to building wealth. That view was strongest among households with $1 million or more in investable assets and among people working with financial advisors. Non-homeowners were more likely than before to say they expect to become homeowners eventually, with increased optimism among younger generations.

Inflation was the top financial concern, cited by 42% of respondents, followed by lack of savings (25%), personal debt (22%) and medical costs (22%). More respondents expected the U.S. economy to weaken in 2026 (45%) than to improve (36%), and 56% expected prices to rise. Seventy-nine percent of adults reported higher grocery prices in the prior three months, down from 84% the year before. Forty-four percent reported higher gas prices, a 16-point decline from the previous survey; the poll was completed before later geopolitical events that affected fuel costs.

Younger consumers reported greater intended use of buy-now-pay-later options: roughly half of Gen Z and Millennials said they plan to use those services for large purchases. About 36% of Gen Z and 32% of Millennials said they would use buy-now-pay-later for smaller purchases. Overall, 62% of respondents said they would rather pay down debt than increase savings.

The Planning & Progress Study aims to track changes in attitudes about financial planning and security across demographic groups and economic conditions.