As part of the survey, 63% of Gen Z expect to achieve that within the next five years.
However, changes in inflation and the threat of recession harm financial confidence.

Nearly 69% of respondents worry about recession impacting their financial prosperity, with 67% saying they cannot save as much because of inflation.

“In today’s uncertain environment, there’s a prevailing notion that prosperity is slipping out of reach for many Americans, particularly middle-income households. At Santander US, we strive to help our customers – many of whom are members of middle-income households – achieve their own financial prosperity”, said Tim Wennes, CEO of Santander US.

“Santander puts the customer at the center of everything we do, and this research helps us to better understand our customers’ sentiments, needs and aspirations, so we can support them throughout their journey to a prosperous future”, he added.

Financial prosperity means having the flexibility and freedom to pursue life goals and aspirations without needing to make sacrifices or tradeoffs.

In the UK, the cost-of-living crisis has taken a toll on financial prosperity, with people buying less and saving more.