How the Next-Generation Is Rethinking Wealth

For many younger investors, wealth is progressively seen as something more dynamic than “saving for retirement.” Based on conversations with clients and wider industry observations, many in next-generation are thinking about flexibility, impact, and optionality.  This is understandable after years marked by economic volatility, rapid technological shifts, elevated personal debt, and a global pandemic. These lived experiences appear to influence a desire for both financial safety and meaningful experiences in the present. 

In December 2025, I had the opportunity to share this perspective on the Schwab Network. I spoke about what success looks like for next-generation investors. 

Beyond discipline, onto purpose

Traditional financial advice has long emphasized aggressive saving to retire at the tried-and-true “age 65.” Those were the days of pensions and stability in Social Security systems. Today, while younger investors still value saving, money is increasingly viewed as a means to create freedom at any age — freedom to pivot careers, take time off, or fund meaningful experiences, or support causes. 

This mindset has given rise to what’s often called “soft saving.” This approach focuses on intentional saving while still allowing for spending on experiences today. Rather than adhering to rigid rules, many next-gen investors aim to align their financial decisions with personal values, wellbeing, and longterm optionality. When making decisions to travel, take a year off to be with aging family, explore the world, or intentionally opting out of doing whatever it takes to max a 401k plan – we’re taking a holistic view and making intentional decisions. The focus is less on rigid rules and more on maintaining options and living more meaningfully at all stages of life. 

The enduring influence of the FIRE movement

The Financial Independence, Retire Early (FIRE) movement continues to shape next-gen thinking. Even among those who don’t plan to retire in their 30s or 40s. At its core, FIRE emphasizes autonomy — having enough financial security to choose how and where you spend your time. As with all movements, interpretations vary. Some view it as a push to save, save, save for that autonomy, while others do it for flexibility. 

We observe that clients in their 30s and 40s often pursue multiple income streams, including side businesses, equity compensation, freelance work, and other sources of supplemental income. These approaches are not about guaranteeing outcomes or achieving early retirement, but rather exploring ways to diversify earning potential and maintain flexibility. 

At the same time, high housing costs have contributed to a shift in how younger generations view traditional milestones, such as homeownership. For some, buying a home continues to be a priority; for others, it is simply one option among many. This broader range of choices has contributed to stronger interest in liquidity and more intentional spending. 

Spending is also increasingly value-driven. They prioritize experiences that build perspective, connection, and worldliness over traditional status symbols. “Buy now, pay later” tools have notably changed consumption patterns, contributing to higher debt levels while reflecting a desire to smooth cash flow and maintain lifestyle flexibility. Many next-gen investors also openly discuss the importance of celebrating milestones — both personal and professional — as part of a holistic approach to wellbeing. 

Advances in technology

Digital fluency plays a major role in access to advisory services at an affordable cost. Information is power, and next-gen investors want to understand not just what they own, but why they own it. They expect transparency, education, and a seat at the decision-making table. 

Values-based investing is also gaining momentum. Many want their portfolios to reflect their beliefs, leading to a greater focus on impact investing — seeking returns while also doing measurable good. Significantly, confidence in decision-making often matters more than chasing the highest possible return. Being informed and engaged builds conviction, especially during market volatility. 

Redefining money and marriage

Rather than fully merging finances, many next-gen couples are opting for “financial plans that work in parallel.” This allows for shared goals while maintaining individual autonomy and clarity. This points to some wider cultural changes — less traditional norms, earlier access to financial education, women in the driver’s seat, and a strong desire for personal agency. Managing money independently is encouraged as a means to build confidence and independence – to act as the CEO of their financial lives. 

A new definition of financial success

Taken together, these shifts point to a redefinition of financial success. The next generation is looking to build a portfolio — and a financial life — that supports flexibility, reflects personal values, and enables informed, confident decision-making.  

About the author: Jesica Ray, CFP®, CDFA®, is a Senior Lead Advisor serving clients across the East Coast. She provides holistic financial guidance that helps individuals and families clarify goals, explore philanthropic interests, and define true financial wellness.  

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