Gen Zs less hardy than their parents, regional survey finds

A regional survey has confirmed the popular belief that those aged under 30 are less resilient than their parents or grandparents.

SINGAPORE – When it comes to financial and health matters, a regional survey has confirmed the popular belief that Gen Zs, or those under 30, are less resilient than their parents or grandparents.

For instance, only 41 per cent of Gen Zs who are working feel they are doing well financially, compared with 54 per cent of those aged 62 to 84.

Granted, the younger ones have worked for only a few years and have a longer runway to do better, but the survey by insurer AIA found that they still lose out to older folks when it comes to mental and physical well-being.

No wonder older folks often describe this group of youngsters as the strawberry generation because they are emotionally sensitive and “bruise easily” when faced with stress or pressure.

The survey probed whether these two groups have different attitudes when it comes to dealing with certain financial issues.

Overall, the results show that compared with the older generations, Gen Zs place less importance on money matters, especially when it comes to traditions and social norms.

For instance, 63 per cent of older folks would frown upon adults who do not support their elderly parents and would describe such people as “ungrateful”.

But almost the same proportion of Gen Zs (61 per cent) would think that it is not compulsory for children to support their parents since they have their own financial obligations to bear.

The difference in agreement between the generations appears to suggest that there is a change in how younger people view wealth and how it impacts their lives.

For instance, 63 per cent of Gen Zs think that success in life need not be related to money, but about half of those in the older age groups still believe that wealth is important in determining a person’s worth.