Gen Z is investing earlier than millennials but still feels behind on money

Gen Z workers are starting to invest at an average age of 19, six years earlier than millennials did, and a Vanguard study found 47% of Gen Z workers are positioned to retire successfully compared with 40% of baby boomers, based on Vanguard's analysis of government data, Business Insider reported.

The St. Louis Fed estimates millennial and older Gen Z households held, on average, 35% more inflation-adjusted wealth than boomers did at the same age, with younger members of Gen Z potentially on pace to match that trend. Despite those numbers, a Business Insider reporter who spoke with dozens of younger Americans found widespread financial fear persisting even among savers, describing it as a "financial vibecession."

The reporter, 25, described working three jobs at a time through college and tightly rationing grocery spending to around $14 a week during a senior-year internship, despite steady saving habits.