Americans who started financial planning during COVID-19 2020, by generation

Published by Statista Research Department, May 31, 2022
In 2020, one quarter of Gen Zers in the United States started financial planning for the first time during the COVID-19 pandemic, while only 11 percent of Baby boomers said the same. Two thirds of Americans who lost income during the pandemic didn't receive any financial support from the government.

Share of adults who were prompted by the COVID-19 pandemic to start financial planning in the United States in 2020, by generation

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Sources

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Release date

June 2020

Region

United States

Survey time period

April 29, 2020 to May 1, 2020

Number of respondents

2,077 respondents

Age group

18 years and older

Special properties

Gen Z (n=274), Millennials (n=619), Gen X (n=511), and Boomers (n=581)

Method of interview

Online survey

Supplementary notes

This question was phrased by the source as follows: "How has the market volatility and economic downturn prompted by the COVID-19 pandemic impacted your approach to financial planning?"

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