Opening Doors to Opportunity

Gen Z and Millennials speak about their own futures

With Millennials as the largest living generation in America today, and Generation Z emerging fast as an influential force, it is ever more important to understand where these generations stand. The Walton Family Foundation, in partnership with Echelon Insights, conducted a study of what these young Americans think about their own futures, their prospects for success, what they want out of life and what they fear will stand in their way.

To better understand Generation Z and Millennials in their own words, this research effort surveyed a diverse and representative sample of 2,002 members of Generation Z (born 1996-2013) and 2,002 Millennials (born 1981-1996) across the United States, followed by in-depth conversations with 146 additional respondents in these age groups. The research topics were wide ranging, seeking to explore attitudes about opportunity, the American Dream, and key issues such as education, the environment and their communities.

Millennials and Generation Z are optimistic about their future and two-thirds believe the American Dream is achievable. 

Nearly half of young Americans expect to have a life better than their parents – with Black, Latino and Asian respondents reporting greater optimism. Still, Millennials and Gen Zers of color are most likely to report encountering major challenges standing in their way.

Millennials and Gen Z see the environment, a solid income, family and public education as keys to opportunity and a good life.

Opportunities to breathe fresh air, drink clean water and earn a good income are almost equal in these young generations’ opinions on what will lead them to achieve a better life than their parents or grandparents. They also think their family and loved ones, the environment of their communities and the public school in their communities are the most important things to make those opportunities possible for them.

Millennials and Gen Zers find education to be an important factor in success. However, less than half believe that their K-12 education prepared them well for good opportunities in life. Career, financial and critical thinking skills top the list of what they think should be a priority for schools to teach by high school graduation. While many are interested in pursuing further education to better prepare for their futures, 43% of Gen Zers and Millennials feel higher education is too expensive or difficult for them to access. These generations have found racial inequality and gender discrimination (especially for women of color) to be roadblocks to opportunity.

Besides concerns about education, 43% of both generations believe the environment will be worse for their generation than for previous generations. They see air quality, rivers, oceans and overall climate as the biggest concerns.

After living through a global pandemic, both Millennials and Gen Z have had their fair share of difficult times. While they are optimistic overall about their future opportunities, we have to keep working to make the changes they want to see and listen to them to figure out what those changes are.