Uziel Gomez, 26, understands what his Gen Z clients are going through. Many of them are learning how to manage their money and handle adult responsibilities for the first time.

Young people today have dealt with several financial challenges early in life, including the effects of the Covid-19 pandemic, the fast rise in living costs, and high tuition fees, says Gomez, the founder of the financial planning company Primeros Financial. Some of his Gen Z clients even ask how they can support their parents financially. Gomez understands this well because he expects to face a similar situation in the future.

“There are clients whose entire plan is to be their parents’ retirement fund,” he says. “In my case, I’m my dad’s retirement plan.”

This is just one of the many financial issues young people seek help with. They also want to know how to save for breaks before retirement, build up emergency savings, and understand what financial advice is true or misleading, especially when it comes from social media.

Three young financial planners shared the advice they commonly give to Gen Z clients as they work on their financial futures — advice that sometimes lines up with what past generations heard, but also differs in key ways.

Creating Money Goals That Match Your Life Values

Some of the financial advice Gen Z receives is similar to what older generations heard. For example, when young people meet with Naima Bush, a financial advisor at the firm Fruitful, she starts by asking basic questions: Are they building emergency savings? Are they paying down high-interest debt like credit cards? Are they taking full advantage of any employer retirement savings match? These are always important steps to take.

A big part of Bush’s job is helping clients avoid and manage high-interest debt. Even though many Gen Z clients want to stay away from student loans, it’s still easy for them to get into debt through other tools like “buy now, pay later” apps.

She also helps them define broader financial goals and figure out where those goals come from. A common topic she discusses is home ownership, which can be hard to reach for many young buyers.

“Since buying a home is a big decision, I ask clients whether it’s something they truly want — maybe because they want to settle down — or if it’s just because everyone else is doing it,” says Bush. “We try to find goals that really fit their lives.”

Some people want to keep living the way they do now. Others want to live overseas for a while. Bush, who is 33, also works with entrepreneurs who need help getting their businesses or side jobs going.

Thinking Differently About Work and Retirement

Even though many Gen Z workers receive retirement benefits through their jobs, their idea of retirement is often different from older generations. Nate Hoskin, founder and lead advisor at Hoskin Capital, says Gen Z doesn’t feel comfortable counting on Social Security or pensions the way their parents or grandparents could.

To deal with this uncertainty, Hoskin, 26, says young people are working hard today so they can be more secure in the future. This might mean working weekends, longer hours, keeping a job while going to school, or delaying major purchases like buying a house. He also helps them estimate how much money they’ll need in retirement without relying on Social Security — so if they do receive benefits, it’s just a bonus.

Unlike many baby boomers, Gen Z doesn’t expect to stay with one employer for their whole career. Instead, they are more open to switching jobs to find work that fits their interests or values better, Bush explains.

Bush works with clients who earn different incomes and reminds them that the most important thing is building the habit of saving. Even saving $5 or $10 each month can make a difference. And when your income goes up, try not to increase your spending too much.

“You should be putting more of that money aside for your future self,” she says.

Be Careful With Financial Advice on Social Media

One unique challenge Gen Z faces is the large amount of financial advice they see on social media. Platforms like TikTok and Instagram are full of stories and tips. Some of them are helpful, but many are wrong or misleading, Gomez says.

For example, he has had to correct myths like the idea that starting a business is always better than working a regular job, or that following a budget is a bad thing.

Bush agrees that while social media can offer helpful ideas, it can also overwhelm people with advice that doesn’t fit their situation. “This can lead to having too much information and too many choices, which makes it hard to decide what to do,” she says.

Gomez reminds his clients that investing doesn’t need to be exciting. “Investing should be boring,” he says, meaning it’s better to follow a steady plan than to chase fast gains.

Social media can also cause Gen Z to compare themselves to others. Gomez says he often talks to clients about FOMO — the fear of missing out — after seeing others invest in trendy assets like cryptocurrency or hot stocks.

He also hears many questions about passive income, a popular topic online. But Gomez says the focus should be on what you can actually control: your career, your saving habits, and your long-term investments.

“A lot of people are looking for fast and easy ways to get rich,” he says. “But it’s really about staying focused and managing your money in a way that works over time.”

Helping Their Families

Many young adults are already thinking about how they can support their parents financially. Gomez helps his clients figure out how much help their families need and how much they can truly afford — whether that support is given every month or just during emergencies. He also reminds them to think about the trade-offs. Will helping their parents limit their ability to save for a house or retirement?

Setting boundaries is important too. Gomez recommends being clear about whether the support is only for essentials — like rent, medical bills, or groceries — or if it can be used for things like vacations or eating out.

Enjoy Life Along the Way

One thing Gen Z seems to agree on is that they want to spend money on experiences. Bush says many of her clients plan to travel or live abroad. Others save money to enjoy big moments, like going to a concert.

Still, Hoskin notices that even high-earning clients are careful with money. They often prioritize emergency savings, health savings accounts, and retirement savings over extra spending.

For clients who are doing well financially but hesitate to spend on things like a trip to visit family, Hoskin tells them it’s okay to enjoy their money. He believes the careful mindset comes from growing up in a shaky economy, which made many Gen Z adults feel like they always need to be prepared.

Gomez adds that some of his clients feel guilty spending money, especially if they are the first in their family to build wealth. They feel pressure to save for themselves and for their parents at the same time.

“Money is not just about numbers and being efficient,” Hoskin says. “You’re working hard so you can enjoy life and meet your goals — not just to watch your bank account grow.”