What’s it Like Being 20™? – Chapter 2: Challenges and Optimism
The 2nd of eight installments from an enlightening study of 20-year-olds and their attitudes, behaviors, and feelings about their world and future.
This release examines their sources of frustration and optimism. What do 20-year-olds see as their biggest life challenges and conversely, what are they most optimistic about as they look toward the future?
Money is the #1 worry. Today’s
20-year-olds have great concern about financial instability both today and in
looking toward the future, and many say they have financial “problems,”
“troubles,” or “struggles.” These issues about money translate to
concerns about their future careers, and they reference the challenges of
“finding a good-paying job” and “finding a job that will guarantee a stable financial
life.”
Maybe the desire for financial stability makes
today’s 20-year-olds no different than those of other generations.
Perhaps their economic outlook is jaded by growing up during a time now
known as the “Great Recession of 2008-2012,” the longest period of economic
decline since the Great Depression of the 1930s. As children, they no
doubt were affected or at the least, aware of the financial crisis that caused
a massive instability, and resulted in widespread loss of jobs, homes and even
life savings.
The pressures of education.
As with generations
before, today’s 20-year-olds are also experiencing the demands required for
academic success. Nearly half of our 20-year-old respondents indicated that the
burdens of scholastic achievement – they specifically mention college
acceptance, studying, exams, earning good grades – present serious challenges
in their everyday lives.
Mental health concerns. The third most-often mentioned challenge facing
today’s 20-year-olds relates to various mental health-related issues. They
specifically reference anxiety, stress, depression and loneliness. This is not
surprising, because this age group has grown up with an increased awareness of
mental health issues, generated by more open discussion across mainstream and
social media networks.
The increased awareness and concern are no doubt
driven by some alarming facts. According to a recently released study in the
Journal of the American Medical Association, the Gen Z group has exhibited a
higher degree of anxiety and depression than other age groups, and the overall
suicide rate for 18-22-year-olds has risen by more than 50% over the past
decade.
There is a
brighter side. Some of
the areas mentioned most as life challenges were also mentioned most as areas
for optimism in the future.
Looking forward to having a
career. More
20-year-olds mention career optimism than any other single area (29%).
And they look forward to pursuing these careers, in the hope that they
will bring them a sense of fulfillment – as well as financial stability – which
combined, present a rosy picture of a more productive and comfortable life.
Here is a sampling of some of their statements:
•I am most optimistic about the career paths I
choose to follow and the experiences I will have.
•I am most optimistic about my career – I feel like I could
accomplish good things.
•I am most optimistic about finding a job or career that I really
enjoy
•I’m most optimistic about having a well-paying career and being
able to live comfortably.
Hopeful in
relationships. Future
success in relationships was another source of optimism, with 24% of the sample
expressing confidence about their prospects in this area. The most
frequently mentioned facets of relationship optimism related to a desire to
pursue a more “traditional” family situation – a spouse, children, and a
house.
The ability to achieve life
goals. Finally, there was
some hopefulness expressed by 20-year-olds about reaching their overall goals.
They specifically mentioned success in their careers, family, and in achieving
their life’s dreams (11%) as well as attaining their educational objectives,
such as getting good grades and graduating college (10%).
What are the
underlying factors influencing these life perceptions? We will more deeply explore the reasons behind these
intriguing responses – as well as those to the many other questions we posed –
by convening small group discussions with “key influencer” 20-year-olds over
the summer. This qualitative approach will provide clarity on many of the
intriguing findings of this study.
Next up in the “Being 20™”
Series: Brand Affinities –
What brands do 20-year-olds connect with most? Stay tuned…
Our “Being 20™” series: As Consumer Truth® celebrated 20 years of Truth
Discovery™, we wondered about today’s consumers who were born when our business
was created. That group on the precipice of adulthood, straddling the end
of the Millennial generation and the beginning of Gen Z. How do they perceive
their world and future and what are the implications for marketers? To
find out more, we launched a proprietary study among this specific age group.
We want to share the results, which we know will provide valuable insight and
understanding to better inform strategy, communication and connection with
today’s 20-year-old and the Gen Z generation.
Our research partners in
executing the “Being 20™” study:
Quantitative study fielded by Dynata
Qualitative: Key Influencers provided by Find Your Influence
